Example HSBC

Example HSBC - Financial Reporting HSBC Bank 1 Running...

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Financial Reporting HSBC Bank Running Head: Financial Reporting HSBC Bank Financial Reporting HSBC Bank Name: University: Tutor: Course: Date: 1
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Financial Reporting HSBC Bank Introduction HSBC bank is a branch of HSBC Holdings plc and has its headquarters based in London. The bank provides a wide range of financial products and services to individuals, governments, non-governmental organizations and companies. It provides banking products and services in the domestic as well as the international market (Gianaris, 2001). HSBC group of banks is one of the organizations of its kind that offers the largest banking and financial services all over the world. The company has 8,500 offices in 86 countries and territories in Europe, Hong Kong, Asia, Middle East, North America and Latin America. The company has been listed in the stock exchange markets of London, Hong Kong, New York, Paris, and Bermuda (Jao, 2001). The company has about 220,000 shareholders in 119 countries and territories. The company provides a wide range of products to its over one hundred million customers. The company has four categories of customer groups and businesses: Personal Financial Services, Commercial Financial reporting is the process of compiling the formal records of the financial activities of an organization or an individual. It involves preparing the financial statements of a company. The organization aims at finding out its financial position in the short run or in the long run period. The HSBC bank prepares its financial reports according to the generally accepted accounting principles of Canada (Mcmenamin, 1999). 2
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Financial Reporting HSBC Bank Financial Reporting History The company prepares financial reports annually, semi-annually and quarterly. The company files interim reports after every three or six months, that is, semi annual and quarterly financial reports. These reports reveal the financial performance of the company for the stipulated period of time (Das, 2004). The companies linked with HSBC bank are required to prepare semi-annual reports. On the other hand, quarterly reports are not compulsory for all countries. Regulations regarding the format of interim reports differ in each country. The interim reports may be short or long depending with the country. The date for filing the interim reports also vary with the different countries (Pietrobelli, Ffrench-Davis, Zamagni, & Ocampo, 2000). The history of preparing interim reports by the bank can be traced back to the mid-year of 2002. The quarterly reports started being in operation with the first quarter of year 2003. The financial reports are essential to the researchers and that is why the company requires adequate filing of all financial statements of the bank (Mcmenamin, 1999). The company maintains timely preparation of its financial reports. It uses web crawler
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This note was uploaded on 03/02/2011 for the course BUS 500 taught by Professor Dr.spitz during the Spring '11 term at Deep Springs.

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Example HSBC - Financial Reporting HSBC Bank 1 Running...

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