Disclosure Requirements for Financial Reports

This assignment examines the disclosure requirements faced by companies operating in Hong Kong. It explores mandatory disclosures outlined by regulatory bodies, focusing on aspects such as beneficial ownership transparency and adherence to modern financial reporting techniques. The analysis considers the content typically found within annual reports, including key financial indicators and information regarding corporate governance practices.

A case study of the Hong
Kong Technology
Companies

TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION....................................................................................................1
Background.............................................................................................................................1
Aim and Objectives................................................................................................................1
Research question...................................................................................................................2
Rationale.................................................................................................................................2
CHAPTER 2: LITERATURE REVIEW.........................................................................................4
CHAPTER 3: RESEARCH METHODOLOGY.............................................................................8
Research approach..................................................................................................................8
Research philosophy...............................................................................................................8
Sampling.................................................................................................................................8
Data collection........................................................................................................................8
Gantt Chart.............................................................................................................................8
Data analysis...........................................................................................................................9
Ethical consideration............................................................................................................10
Research limitation...............................................................................................................10
CHAPTER 4: DATA ANALYSIS................................................................................................11
CHAPTER 5: CONCLUSION AND RECOMMENDATIONS...................................................15
REFERENCES..............................................................................................................................17
APPENDICES...............................................................................................................................19

ABSTRACT
The study will be helpful in analysing the marketing scenarios as well as needs of stakeholders of
Hong Kong entities in making investment decision. It ascertains the current disclosure
techniques used by businesses in presenting their financial data set while there will be need of
adopting innovative techniques which will enhance the productivity and profitability of the firm.
The increment in the technology companies in Hong Kong has the innovative influence in every
field such as manufacturing, designing, marketing, e-commerce, and infrastructure as well as in
financial terms. Hong Kong is the best known commercial centre and there are various industries
or investors make capital investment. Thus, the ratio of investing capital will be higher as if the
company present the accurate disclosure of the financial data set. The aim and objectives of the
report is to identify all the obstacles which abounds the investors to relay over the performance
of the organisation. Moreover, the research will be carried out by the researchers on the basis of
secondary techniques of analysing the data on which they will be able to fetch all the required
information from the market. However, in consideration with such analysis it will be helpful to
them for analysing the exact issues as well as present the fruitful suggestions to the managerial
professionals at various Hong Kong technologies companies. To analyse the requirements of
Hong Kong technologies companies in order to have appropriate numbers of stakeholders for
fund generation it is necessary to have access through all the sources which will be helpful in
analysing the requirements of stakeholders in the long run. There has been various ideas which
were proposed to have the adequate analysis over the innovative techniques that has been
adopted by the professionals.

Topic: "Can Investors rely on published Financial Statement to make investment decision: A
case study of the Hong Kong Technology Companies"
CHAPTER 1: INTRODUCTION
Hong Kong is the fastest growing commercial hub in the world. The increment in the
technology companies in Hong Kong has the innovative influence in every field such as
manufacturing, designing, marketing, e-commerce, and infrastructure as well as in financial
terms. The improvements in the technologies has uplifted the methods of doings in various
entities such as there has been improvements in the operational practices as well as it has created
the environmental consideration in every manufacturing units (Utami and Nugroho, 2017).
Moreover, such technical changes bring the improvements in the research and development,
reporting techniques, production process as well as promoting the brand in the market. Thus, in
the present report there will be discussion based on Hong Kong technology companies and their
financial reporting techniques. It will also help in evaluating the interest of shareholders and
investors in investment decisions.
Background
The research will highlight all the factors which will be helpful in presenting the financial
reports of various organisations there will be increment in the operational practices of a venture.
Thus, the researchers in this study are highly committed towards their role in gathering the
accurate information as well as covering the wider area for presenting the fruitful outcomes from
this research study (Bartlett and Beamish, 2018). The topic of the research is considering the
presentation of the financial statements in terms of attracting the investors. It will also
demonstrate the investor's interest and preferences in an industrial data set which will influence
their decision making. There will be suggestions to various companies to implicate the modern
techniques of reporting the financial health in the external market. The report contains discussion
over the gathered information and literature from various authors which will benefit in accurate
demonstrations.
Aim and Objectives
Aim: “To analyse Investors rely on published Financial Statement to make investment decision:
A case study of the Hong Kong Technology Companies.”
Objectives:
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 To identify shareholders' interest in a financial data set of organisation.
 To ascertain the modern techniques of preparing the financial statements.
 To analyse the requirements of firm in capital point of view.
 To suggest the changes in the technique of financial discloser of entities.
Research question
In relation with the aim and objective of the research there are several questions which
will help and funnel the researchers to conduct fruitful research over the business operations such
as:
 What are the shareholders interest in a financial data set of organisation?
 What are the modern techniques of preparing the financial statements?
 How it would be analysed the requirements of firm in capital point of view?
 How to suggest the changes in the technique of financial discloser of entities?
Rationale
To analyse the accurate reasons behind the operations of Hong Kong technology
companies in presenting the financial disclosure of the accounts. There are various factors which
influence the operations of such research techniques and operations. However, the rationale
behind this research can be understand as follows:
What: There are various companies which are making the profitable trade practices in the
world. Hong Kong is the best known commercial centre and there are various industries or
investors make capital investment. Thus, the ratio of investing capital will be higher as if the
company present the accurate disclosure of the financial data set (Chiu, 2018). Thus, the main
motive of the research is to enhance the more information and knowledge relevant with the use
of financial statements in decision making.
Why: Investors needs the accurate information about the financial statements of the
business on which they could relay and make the adequate decision that will provoke them in
making investments decision. To create the awareness in respect of presenting the financial
statements the firms need to have implication of various modern techniques such as CSR,
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Integrated reporting etc. which will be helpful in attaining the accurate trust of the stakeholders
over the accounts of the company.
How: To resolve such issues the researchers will examine various reporting techniques as
well as analyse the investor's interest in a data set which provokes them in deciding the amount
of investment to be made in an organisation. The wealth investment is beneficial for the
increment in the organisational efficiency and ability to meet the short terms and long terms
debts in a required period.
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CHAPTER 2: LITERATURE REVIEW
According to Lo and Kwan, (2017), In ascertaining the industrial profitability and
potential returns to the investments made by stakeholders there are several reasons which make it
essential that the firm must have accurate financial disclosure. Therefore, the major terms such as
income statement, balance sheet and cash flows of the organisation which indicated the
profitability, efficiency, liquidity of the firm in meeting the debt requirements. These are the
statements which demonstrate all the financial scenarios in the organisation such as operational
expenses, gains, liabilities, assets etc. which will be used and analysed for the internal as well as
external decision making. The internal stakeholders required such information for the operational
decision such as increasing the level of funds for the operations, decreasing the costs implied in a
particular business tasks etc. Günther, Johan and Schweizer, (2018) stated that, in some extent
there has been implication and provocation for the managers, directors and owners of the entity
as they make investment in the unit and they acquire the equity holding in the business. Thus, In
consideration with that, it is quite essential that there investment decision must be considered.
Theme: To identify shareholders interest in a financial data set of organisation.
According to Abdullah Naser and Al-Duwaila (2017), the preparation of the financial
statement is the formal technique of reporting the financial activities of the organisation
throughout the year. However, it contains all the relevant information regarding the operations
held in the business such as in the production, manufacturing, designing as well as in the
marketing process. Thus, the managers and accounting professionals determines such costs and
revenue gained in these activities which enable them to present the fruitful idea which will
reduce the costs. Thus, the discussion over the operational activities of the business which must
be quite accurate and adequate in terms of having the long term gains. Thus, the preparation of
the financial data set will involve the preparation of the budgeting and costing sheet on which the
while operation process will be performed. Vörösmarty and et.al., (2018) said that, the
importance of the financial statement for the external shareholder is that they determine the
growth of the business over the period as well as the market value of the firm thus, such analysis
helps in deciding the investments to be made or not. The users of such accounts are mainly the
investors, governmental authorities and the banking industries. It benefits in them in making
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effective judgements and decision relevant with increasing investments, taxation, grants and
various operational practices in the premises.
According to Curtin, McInerney and Gallachóir, (2017), the preparation of the financial
accounts is the process of providing the financial information or communicating the economic
health of the organisation among the stakeholders. Thus, It provokes the internal management to
be strong and make the relevant efforts in terms of attaining the business objectives on the
required time. Thus, there will be need of well qualified and skilled accountants, auditors who
analyse the financial activities of the business in a period and prepare the summary statements
which must reflect all the losses and gains of the firm. Akcay and et.al., (2017) points out that,
the data set indicates strength and weaknesses of an entity in terms of meeting the operational
requirements as well as making the payments of dividends to the shareholders. The effective or
profitable return acquired by the investors which will create the reliability and trust of such
investors in organisational performance.
Buckley and et.al., (2018) stated that, the ultimate aim of presenting the disclosure is to
provide useful information which will be enough for determining or evaluating the managerial
effectiveness as well as proper utilisation of the resources. These are the outcomes which forces
the managerial staff and workforce to put efforts in attaining the targeted aims as well as
presenting the disclosure of statement which will satisfy the needs of the stakeholders. Lim, Lim
and Cheong, (2017) determines that, to present the reliable disclosure of the reports there is need
to have the analytical knowledge in the accounting professionals, managers and auditors which
will be useful in decision making.
Theme: To ascertain the modern techniques of preparing the financial statements.
According to Deresky, (2017), in relation with the traditional technique of preparing and
presenting the financial report of the business which includes the profit and loss accounts and the
balance sheets. There was lots of work based on paper records and books which were kept by the
company and by the clients. Thus, It was quite a time consuming as well as hectic procedure of
analysing the actual financial scenario of the entity. Due to some reasons it does not bring the
relatability and trust among the financial statements of the business. This traditional concept of
preparing and presenting the information regarding economic scenario of organisation will not
always accurate and there has been various issues of bankruptcy, frauds etc. which has lead
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various organisation to demolished. Therefore, it has created the insecurity in investors about
their investments in the organisation. Utami and Nugroho, (2017) stated that, as per the
implication of computer devices and digitalisation of every piece of work has the impacts over
the operational activities of the business. In accordance with the business operations there are
various activities which were being recorded and in different books of accounts over the online
books of the records. Thus, these techniques will be performed over the installed software which
will be helpful in making the adequate analysis over all the accounts of the entity. The reports
will be circulate among each departments of the business on which the professionals will make
their fruitful decisions for business operations.
According to Bartlett and Beamish, (2018), there are various Morden technique of
preparing and presenting the financial reports such as budgets, ratio analysis, cash flows, funds
flows etc. these are the reports which ascertains the accurate examination of the company's
financial stability in the market. On the other side, it can be said that there are several techniques
such as preparing the CSR and integrated reports. Thus, these reports contains all the information
regarding the manufacturing of the products and the environmental damages recovered by the
firm. Thus, it creates the unique impression among the external stakeholders as well as it also
provokes the environmental stability. To attract the large numbers of investors there will be need
of having the accurate decision making as well as proper evaluation of the business records.
Chiu, (2018) stated that, the preparation of such statement is not that simple and easy as the
traditional method of preparing the reports. It will require the appointment of qualified and
skilled professionals to record and analyse the financial transactions. On the basis of reliability of
these statements there are very informative details about each of the financial activities of the
business (Hong Kong companies to disclose beneficial owners by 2018, 2018). The presentation
of the reports in on the basis of annual disclosures, half yearly disclosure and quarterly which
depends over the requirements and the level of operations performed by the entity.
Theme: To analyse the requirements of firm in capital point of view.
According to Lo and Kwan, (2017), the requirements of the organisation which is on the
basis of evaluating the capital structure of the firm. They present the financial disclosure among
the users as to attract them towards the firm's growth and profitability. They mainly represent the
income statements, balance-sheet, cash flow and statements of change in owner's equity. Thus,
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such information is mainly required by the investors as to analyse the firm's growth over the
years and they estimate the future of the firm. Moreover, it helps organisation to have the
appropriate amount of capital that will be utilise for the future operations. It is necessary that the
business must have a profitable dividend policy which must be fruitful for the investors to relay
over the security over their invested many in the company. Thus, the needs of firm in capital
terms is mainly because they wanted to have appropriate funds for each units for their expansion
plan as well as from making the payments or dividends. Akcay and et.al., (2017) stated that, the
presentation of the reports must disclose all the relevant information regarding all financial
transactions. It must reflect the transparency, auditing as well as the flexibility of the accounts.
There is need to have disclosure of all the relevant details about the firm's internal scenario with
the help of corporate governance and regulatory control authorities.
Theme: To suggest the changes in the technique of financial discloser of entities.
According to Günther, Johan and Schweizer, (2018), the firm must be committed to the
role and duties they have to play in terms of providing the accurate information to the
shareholders of the entity. Therefore, the preparation of the reports must be based on national
standards, professionals ethics and with the consideration of the proper corporate governance.
The firm need to prepare the financial reports most often as it will be helpful to them in
operational decision making as well as ascertaining the requirements of funds for the operations.
Abdullah Naser and Al-Duwaila (2017) stated that, it will be helpful for the firm in developing
the appropriate communication environment in the premises which will be helpful for circulating
the information in all over organisation. In the current era there are various organisation which
are presenting their annual reports and have the attention of large numbers of investors.
Therefore, in relation with implicating the various modern techniques of representing the
financial disclosure which will eventually have positive impacts over the equity level.
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CHAPTER 3: RESEARCH METHODOLOGY
Research approach
The research has planned to conduct the research on the basis of qualitative approach
which considers the collection of the data and have appropriate information regarding individual
behaviour. However, the motive behind selection of such research type is to make appropriate
analysis over the issues which being faced by the Hong Kong industries in terms of gathering
satisfactory amount of revenue for the operations (Research Methodology, 2018).
Research philosophy
The study will be based on positivism philosophical analysis on which the research put
efforts to acquire accurate information which meet the objectives of the study (Kamath, 2017).
Therefore, all the efforts and access through the external environment will be made in
consideration with acquiring the accurate information regarding the business operations as well
as the problems they usually face in having funds for the future operations.
Sampling
To analyse the issues of financial disclosure and the reliability of the investors towards
the disclosure made by the organisation. The researchers have used the simple random sampling
technique and they have accessed the various shareholders of various Hong Kong technology
companies (Alvesson and Sköldberg, 2017). Thus, this technique was very helpful as to ascertain
the requirements of various individual and their behaviour.
Data collection
This is the process of collecting the adequate data and information through primary and
secondary sources (Larsen and et.al., 2017). However, as per the simple random sampling
technique the researchers have conducted the secondary research on which they have asked out
many individuals various question which includes all the operational issues faced by them in the
financial statement analysis.
Gantt Chart
The research took 10 weeks for the completion as it requires more time and activities
which were to be performed as to have the satisfactory information and knowledge regarding the
business operations.
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Task name 1 week 2 week 3 week 4 week 5 week 6 week 7 week 8 week 9 week
10
week
Research
planning
Topic search
for research
preparation of
problem
statement
Analysing the
research
procedure
Resource
allocation
implementing
plans
Literature
review
Research
methodology
data collection
preparation of
questionnaires
data analysis
Recommendat
ion
Collaboration
of project
Project
submission
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Data analysis
In relation with this section here the collected information through various sampling and
survey techniques will have been analysed by the researchers as to have the adequate information
about the needs of the shareholders in the market. Therefore, the recommendation will be
provided by the researchers to the Hong Kong technology companies to have necessary
improvements in their reporting techniques which will bring the satisfactory resources for the
capital practices.
Ethical consideration
By considering the ethical point of view the research was conducted over following all
the rules and regulation which will be helpful in preparing the accurate analysis over research
problem (Reinharz, 2017). The literature and all the relevant theories were in-texted with the
proper referencing. To reference each theory will help in giving it the legal approval as the
relevant authors and sources will be referenced properly.
Research limitation
The limitation was belongs to the in appropriate time, more area need to be considered
and covered as well as improper observatory time. Therefore, if the researcher will have more
time and the duration of such study will be more that then most possible outcome will have
derived from such study. In order to perform the secondary research there were limitations such
as various online sites were banned and to access the annual reports of the organisation there are
various obstacles and barriers which denied the researchers to access over it. Moreover, to gain
the adequate information from asking the questionnaires over the online such as social media,
Facebook, Instagram, twitter various individuals have participated in it. On the other side, it has
been assumed that there are various people which were not being accessed and does not bring the
informative knowledge to the researchers.
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CHAPTER 4: DATA ANALYSIS
To ascertain the main issues faced by the Hong Kong Technology companies in terms of
disclosing the financial statements of the firm there will be need of making the accurate analysis
over the various investors. Therefore, it will be helpful in analysing the issues behind their
unreliability over the financial disclosure of the company's accounts. Thus, the research has
performed two techniques of data collection such as direct interaction with the investors with the
help of primary research techniques (Utami and Nugroho, 2017). They have asked various
questions to them through the set of questionnaire which were later analysed as to have adequate
outcomes of such research. On the other side, the research has made access through various
online sites, social media, annual reports of various organisation which comes under secondary
method of data analysis.
Secondary data collection:
The method of conducting a secondary analysis over the market to have appropriate
outcomes from the operations of the business. It determines the outcomes for making the
observations in the market or on various individuals. It includes accessing the interest
information such as social media, annual reports, articles and journals. Therefore, the
information listed in such data base are mainly an overview or the public opinion towards on
thing. Similarly, researchers has made access through various annual reports of Hong Kong
Technology Companies to ascertain that what are the details which are usually delivered by the
firm to its users (Bartlett and Beamish, 2018). There has been listed of corporate governance,
company's policies and procedures as well as operational areas. It also contains the details
relevant with the market position and the EPS value of the industry as well as the reports of it
peer organisations. In addition, the researchers has analysed such sources and determines that
there has been requirements of clients or stakeholders of the firm in relation with having
appropriate information about the annual turnover as well as dividend payable by the entity. It
can be said that shareholders of investor will have trust over the organisation as if they have
accurate information and have profitable returns over their invested money. Additionally, with
the help of these techniques the researchers has planned to make the online survey with the help
of preparing various themes that have been asked to various individuals as to have appropriate
analysis over the research problems. The motive of researcher behind selecting this technique as
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it will be very cost effective, time saving and convenient process to fetch the adequate
information from large numbers of people.
Questionnaire: This is the most accurate and satisfactory technique which requires less
time as well as fewer efforts to convey the messages and taking opinion of large numbers of
individuals. Similarly, in this research survey there has been preparation of set of questions
which includes open ended as well as preference based questions. It has been asked to many
shareholders of the Hong Kong Technology Companies.
Theme 1: Requirements in a standard disclosure
Answers Percentage
A. There must be a separate summary section
in appendix
30.00%
B. Discussion brief of annual meeting 30.00%
C. Future plans of the organisation 40.00%
Total 100.00%
Interpretation: The presented theme and the analysis determines that there is need to
implicate the several details and information in the annual disclosure of the firm's financial
reports. Moreover, the majority of the individuals such as 40% has comes over there is need to
include the future plans of the organisation in data base. It will help the shareholder to rely over
the plans and future aspects of the firm's operations. Therefore, the investors can see and analyse
the profitability of the proposed plan as well as the security of their invested capital.
Theme 2: Necessity of a firm must disclose its corporate governance
Answers Percentage
A. Yes 70.00%
B. No 30.00%
Total 100.00%
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Interpretation: It has been asked to the individuals that the necessity of disclosing the
corporate governance in the annual data set. Therefore, there are majority of the people believes
that the firm must represent their corporate governance. It demonstrates that there must be
appointment of qualified and talent person to govern the specific tasks of the organisation. It
creates the surety that the capital will be utilised in the operational practice in a most suitable
way.
Theme 3: You usually seek for in an annual report of organisation
Answers Percentage
A. Annual turnover 40.00%
B. Balance-sheet 30.00%
C. Dividend paid by the firm over the period 30.00%
Total 100.00%
Interpretation: The individuals has been asked about the thing which they usually
prepare to see in an annual report. The majority of 40% responses lies over annual turnover, 30%
for balance sheet and same percentage for dividend payable by the firm. It has been
demonstrated here that, the main interest of shareholders to gain the appropriate information
regarding the firm's annual turnover which indicates the growth and probability of the firm. It
also ascertains the ability on which it makes the new investments and payments to previous
debts.
Theme 4: Is there requirement of adopting the Morden techniques of financial reporting
Answers Percentage
A. Yes 80.00%
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B. No 20.00%
Total 100.00%
Interpretation: The opinion has been taken over implicating the Morden technique of
reporting. It was quite acceptable that 80% of the responses were in favour of such question and
it ascertains that there must be implication of Morden techniques while reporting the financial
statements. It can be demonstrated here that, the individual in the firm must adopt CSR,
integrated and relevant reports in the final disclosure as it will be attractive and accurate to the
investors to relay over the business performance.
Theme 5: Necessarily be required to be added in the financial reports
Answers Percentage
A. Information about sales and marketing 30.00%
B. Director's remuneration 20.00%
C. Stock prices 30.00%
D. List of chairperson and directors 20.00%
Total 100.00%
Interpretation: The opinion obtained over the implication of various elements in the final
disclosure of the firm's reports. Thus, there has been collection of mixed reviews over it which
determines that 30% of the individuals wants that an entity must disclose the details relevant
with sales and marketing made during the period 20
% believes that there will be disclosure of the remuneration of fees payable to the directors of the
organisation. 30% of them determines that stock price such as EPS value of business must be
presented in there while 20% believes that there must be disclosure of list of chair person or
directors. Thus, it can be said that the maximum interest of the investors is to acquire the
information regarding the stock price and the sales status of the organisation.
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CHAPTER 5: CONCLUSION AND RECOMMENDATIONS
RECOMMENDATION:
The above research study determines that there is need to bring changes in the financial
disclosure made by the organisation to the existing market. However, the preference of the
investors lies over having appropriate information about the performance, revenue generated by
the organisation as well as costs made by the firm. It is to be suggested to the Hong Kong
Technology companies that they must implicate the use of Morden techniques of presentation
such as making forecast tables, income statements, balance-sheet, change in equity and cash
budgets for the future operations. Thus, these are the information which are being required by the
investors for decision-making. It is necessary to have disclosure as the shareholders will become
able to analyse the efficiency, liquidity and profitability of the firm which in turn useful for them
in having appropriate amount of dividends they have obtained from the organisation. Moreover,
it will demonstrate here that the business must implicate the innovative techniques for the better
financial management. Therefore, the better internal control will be helpful for improving the
efficiency of the organisation. On the other side, it can be said that there are various expensive
operations which ascertain higher costs such as production, delivering the products and services
as well as the salaries payable to the internal stakeholders. On the basis of secondary research it
can be said that there are majority of the response lies over having the adequate increment in
convenience of the financial data set which will easily be understood and determined by them in
investment decisions.
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CONCLUSION
The research has obtained all the targeted objectives of the researchers which has the
adequate outcomes. Therefore, the motive of this study to have appropriate knowledge and
information regarding the investors interest in the financial disclosure of the accounts. It has
been demonstrated here that the business must have appropriate information in the corporate
environmental disclosure. The main requirement of the shareholders is to analyse the turnover
generated by the firm in accounting year as well as the payments of dividends over their invested
money. Furthermore, the research contains primary and secondary analysis over the investors of
several firms in Hong Kong and they have been asked out questions which were belongs to their
opinion towards the presentation made by the firm at the end of a year. There research were
committed towards their duties and responsibility of collecting the details from authenticate
sources as well as make proper analysis. Therefore, it can be said that it took 10 weeks of time
for the completion of such study and making the concrete advices to the professionals of the
ventures in Hong Kong. The secondary research was chosen by the researcher as it is most
convenient as well as it will be helpful in covering the large numbers of responses for the
accurate analysis over research obstacles. Further, it has been analysed here that there is need to
have implication of innovative techniques such as Corporate social responsibility, integrated
reporting etc. The usefulness of such techniques will enhance the performance of organisation
and the reputation of the business in the market.
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REFERENCES
Books and Journals
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investment decisions differ by investor type. Small Business Economics. 50(2). pp.289-
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Lim, P. S. S., Lim, S. and Cheong, M. H., 2017. Value Investing in Asia: The Definitive Guide to
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methodology>.
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APPENDICES
Questionnaire
Question 1: What is required in a standard disclosure?
A. There must be a separate summary section in appendix
B. Discussion brief of annual meeting
C. Future plans of the organisation
Question 2: Is it necessary that a firm must disclose its corporate governance?
A. Yes
B. No
Question 3: What you usually seek for in an annual report of organisation?
A. Annual turnover
B. Balance-sheet
C. Dividend paid by the firm over the period
Question 4: Is there requirement of adopting the Morden techniques of financial reporting?
A. Yes
B. No
Question 5: What is necessarily be required to be added in the financial reports?
A. Information about sales and marketing
B. Director's remuneration
C. Stock prices
D. List of chairperson and directors
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