Group Financial Statements & Company Financial Stattements

Q:
What is the difference between group financial statements and company financial statements?

A:
Financial Statements in a company can be found as Income Statement, Balance Sheets and Statement of changes in Equity, Cash Flows Statements.

Group Financial statements would just be the same. The difference between group and single company is Group company should prepare Consolidation Financial statements. These are common reports: Consolidated Income statement, Consolidated Balance Sheets and Consolidated Cash Flows Statements of which are according to HK Reporting Standards.

Some single companies or SMEs, just no need to prepare the above except the common reports, such as Income statement, Balance sheet. There is no statutory requirements for such companies except the public company limited. Cash flows would be used for bankers to get credit line, trust between trades etc. While Group's requirements is totally different.

Financial Concept

Q:
What are accouting concepts?

A:
Many of its accounting procedures are operated automatically by people who have never questioned whether alternative methods exist which are just as valid. The procedures in common use imply the acceptance of certain concepts which are by no means self-evident nor the only possible concept. Such accounting concepts have builded up the Accounting framework. One thing is sure to say, accounting framework does not mean to provide a certain true and fair view. it is upon the Financial statement is prepared properly according to the HKAS, FRS or IAS. (Accounting Standards, Reporting Standards) Other countires may vary.

Finance Manager & Marketing Manager

Q:
What are the finance managers and marketing managers?

A:
Finance Manager
Job purpose:
Provide all aspects of financial services to the company
Job duties:
1. Manage financial accounting
2. Manage new revenue generating projects
3. Prepare management reports and financial analysis
4. Assist in the business process review and prepare relevant documentation
5. Provide support to budget holders
6. Facilitate the implementation of financial systems and internal control systems and manage the changes to processes and procedures as required

Marketing Manager
Job purpose:
Plan and execute all marketing and promotion activities for the company
Job duties:
1. Plan and develop a strong network in the industry
2. Maintain the company's website and ensure all contents are up-to-date
3. Provide input and support to the production of the company's newsletters, video and other publicity materials
4. Liaise with media and external organisations
5. Co-ordinate visits from media, academic institutions and other external organisations
6. Manage the databases of media contacts and professional contacts

Marketing department or marketing?

Q:
Which one is more important, the marketing department or marketing?

A:
A marketing orientation and a marketing department are not necessarily synonymous,and the marketing director from the Trust Me School of Marketing, who uses his superior knowledge of the dark arts to justify an army of staff and an inexorably rising budget, should be treated with the utmost suspicion - if not summarily dismissed.

Satisfying customer needs profitably remains the overriding purpose of marketing. But as businesses have become more service-oriented, the role of marketing has changed from being principally the creator of advertising to stimulate demand (now a tiny subset of its responsibilities), to ensuring the entire organisation meets the customer expectations marketing has created.

Mike Moran, former marketing director and commercial director of Toyota, and now managing partner of the Orchard Consultancy, points out: "One bad experience on the phone trying to get BT Broadband connected could wipe out the desire, let alone the goodwill, created by millions of pounds of advertising." As such, he says, the marketing department has to work with all the customer-facing functions within the company to deliver a well-aligned brand experience to the customer.