Bossini & Giordano Accounting Analysis
THE CHINESE UNIVERSITY OF HONG KONG
School of Accountancy
ACCT 2111 G, H & I – Introductory Financial Accounting
(1st Semester, 2012-13)
Group Assignment
Annual Report Project
Introduction of Bossini
Bossini established its first retail in 1987 with its headquarter located in Hong Kong. It has a total of 1,314 stores in the world, which 523 of them are directly controlled stores in Hong Kong, mainland China, Taiwan and Singapore.1
According to the disclosed annual report of Bossini, their mission is to create appealing, competitive and quality everyday wear for happy living. They hope to be the most preferred everyday wear brand. The working principle and core values of their company are customer oriented, innovate to excel, execute for success, work with passion and live the 7 Habits. The 7 Habits are “Be Proactive”, “Begin with the End in Mind”, “Put First Things First”, “Think Win Win”, “Seek First to Understand, then to be Understood”, “Synergize” and last but not least, “Sharpen the Saw”. They do not only have 7 Habits but also 7 Practices to motivate their work. The 7 Practices are “Face Reality”, “Keep it Simple”, “Act with the Speed of Light”, “Set Stretch Goals”, “Drive Quality”, “Create and Sustain a Learning Organisation” and finally “Keep the A’s, Nurture the B’s, Discard the C’s”. 2
Bossini also aims to have a long term commitment of bearing corporate social responsibilities. Bossini is accepted by various media as a good brand to corporate social responsibilities since Bossini got various certificate and rewards such as TVB Weekly Outstanding Award 2011 and Caring Company 2004-2012 by Hong Kong Council of Social Service.3
The current economic atmosphere is affected by the Europe Debt Crisis and inevitable uncertainty, all company suffered and Bossini also suffered. Inflation and increase in production cost also challenge Bossini. From 2011-2012, overall revenue of Bossini from the Hong Kong market increased 13% to
School of Accountancy
ACCT 2111 G, H & I – Introductory Financial Accounting
(1st Semester, 2012-13)
Group Assignment
Annual Report Project
Introduction of Bossini
Bossini established its first retail in 1987 with its headquarter located in Hong Kong. It has a total of 1,314 stores in the world, which 523 of them are directly controlled stores in Hong Kong, mainland China, Taiwan and Singapore.1
According to the disclosed annual report of Bossini, their mission is to create appealing, competitive and quality everyday wear for happy living. They hope to be the most preferred everyday wear brand. The working principle and core values of their company are customer oriented, innovate to excel, execute for success, work with passion and live the 7 Habits. The 7 Habits are “Be Proactive”, “Begin with the End in Mind”, “Put First Things First”, “Think Win Win”, “Seek First to Understand, then to be Understood”, “Synergize” and last but not least, “Sharpen the Saw”. They do not only have 7 Habits but also 7 Practices to motivate their work. The 7 Practices are “Face Reality”, “Keep it Simple”, “Act with the Speed of Light”, “Set Stretch Goals”, “Drive Quality”, “Create and Sustain a Learning Organisation” and finally “Keep the A’s, Nurture the B’s, Discard the C’s”. 2
Bossini also aims to have a long term commitment of bearing corporate social responsibilities. Bossini is accepted by various media as a good brand to corporate social responsibilities since Bossini got various certificate and rewards such as TVB Weekly Outstanding Award 2011 and Caring Company 2004-2012 by Hong Kong Council of Social Service.3
The current economic atmosphere is affected by the Europe Debt Crisis and inevitable uncertainty, all company suffered and Bossini also suffered. Inflation and increase in production cost also challenge Bossini. From 2011-2012, overall revenue of Bossini from the Hong Kong market increased 13% to