more innovative communication techniques should be used in annual report
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More Innovative Communication Techniques Should be Used in Annual Report. Present by: Priscilla Wong 97001051 Carmen Wong 97001303 Ingrid Yeung 97006009 Carly Wong 97006010. AGAINST. Agenda. Purpose Of Annual Report Definition of innovative communication techniques - PowerPoint PPT PresentationTRANSCRIPT
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More Innovative Communication Techniques Should be Used in Annual
Report
Present by: Priscilla Wong 97001051
Carmen Wong 97001303Ingrid Yeung 97006009Carly Wong 97006010
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Agenda Purpose Of Annual Report Definition of innovative communication
techniques Some examples related to the innovative
communication techniques Innovative communication fulfill
ultimate purpose ???????
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Primary objective of annual report
The purposes of Annual Report: 1. Including the objective of financial
statement that are providing information that is useful (true and fair) to users for the purpose of accessing: (According to HKSSAP 1) - financial position at a particular point of time - performance and cash flows of an enterprise during a specified period of time - stewardship of managements during the accounting period
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Primary objective of annual report The purposes of Annual Report:
2. Conveying a lot of other important information: -company background e.g. history -corporate structures -directorship -main operations -future prospects etc.
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Primary objective of financial statements Why the users want to access
annual report main reason for decision making
e.g. -investors: whether should invest in the company or not -government: making government plan
critical, serious and important decision
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Communication Process by which information is exchanged
between individuals through a common system of symbols, signs or behavior
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Innovative communication technique
A creative way to convey a message to the audience which is different from the traditional communication channel
Innovative communication: too innovative make users difficult to understand and loss the serious
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Graph Convey a message to the audience in
an easy way it provides opportunities to mislead the
readers Inclusion or exclusion? Colors?
Shading? Complex designs and information
overload
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Exclusion of data
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3-D effect
0
20
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1998 1999 2000 2001
Area AArea B
Area C
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Improper construction
Not begin at zero baseline
influence visual impression
change chart appearance
x-axis without any label
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Improper construction
0
500
1000
1500
2000
2500
1995 1996 1997 1998 1999
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Gridlines
0
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16
A B C D E
0
2
4
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16
A B C D E
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Research Findings 35% companies include graphs 52% of these graphs are misleading
users may be misled by the graphs “innovative” graphic design distracts the
readers from receiving the information
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Format - Colors Too brightly colored confuse the reader Shading optical illusions alter the
real message Too many colors or various shaded or
similar colors difficult to differentiate the relative values
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Format - Color
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Format – Organizational Chart(Innovative)
Transentric focuses on improving supply chain performance in the business-to-business marketplace.
Nexterna helps companies stay connected to remote mobile resources – people, vehicles and data.
Timera provides a proactive environment for managing enterprise work forces.
Ekanet is developing a business that leverages Union Pacific's telecommunications assets.
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Format – Organization Chart(Traditional)
Lists the percentage holding of its subsidiaries
Associates or Subsidiaries ???
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Format - Presentation in Symbol
For example Maxim’s - turnover in bar chart
cutie but not appropriate not know the exact figure and not give a
trustful feeling reduce the creditability and not
professional => may attract the readers but may
distort the professional image
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Format – Presentation in Symbol Turnover of Maxim’s
$500 Year 1999 Year 2000 Year 2001
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Format - Font Special and attractive But difficult to read For example if KBM
Basis of consolidation (innovative)The consolidated accounts include the accounts of the Company and all its subsidiaries made up to 31 December each year….
Basis of consolidation (traditional)
The consolidated accounts include the accounts of the Company and all its subsidiaries made up to 31 December each year….
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Package - Annual Report CD-Rom =>abstract report, e.g. EPS, P/L and B/S But -investors are some under educated
persons or dislikes playing computer -CD-Rom may be damaged Web => release annual report through the web But-investor have no knowledge about
computer and internet =>accounting information becomes
meaningless
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Package – Annual Report Management presents in the video
positive manner wrong decision by investors
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Primary objective of annual report
Information useful to users for the purpose of assessing: financial position at a particular point of time performance and cash flows of an enterprise
during a specified period of time stewardship of management during
accounting period Conveying a lot of other important
information
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Conclusion Innovative communication techniques
may capture the attention of readers But
May be impossible get the correct and accurate information
Because: difficult to reconcile with the underlying data preparer may intentionally or unintentionally
mislead
=> the primary objective of the annual report cannot be achieved
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The End