AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
(From Financial Director)
Byline: Tom Berry.
A favourite question Financial Director has asked FDs and regulators over the last few months is to compare Enron's mammoth and broadly unintelligible 10K filing with HSBC's 300-page annual report. Probably everything one needed to know about Enron was in its accounts: there is an extensive note on related-parties transactions, for example, which gave plenty of hints of off-balance-sheet vehicles. But the question is, how can the average investor - or indeed analyst or large shareholder - penetrate the increasing complexity of annual reports and filings so as to tell good companies from bad? HSBC's business ...