Prior to gaining access to the Summary Annual Report through the Growing Your Business simulation, all previously assigned simulation work must be completed. After all previously assigned simulation work has been completed, the Summary Annual Report Template will be accessible through the Annual Report tab.
The summary annual report is a scaled down version of a full annual report. You will simply not have enough detail to complete the typical nine sections. For example, you are not responsible for the Auditor’s Report. Naturally, you are encouraged to review real world annual reports which can be used as a strawman in preparation. Your recently completed Annual Operating Review in Week 5 should be aligned with your Annual Report.
Preparing your HISCO summary annual report will be one of the most comprehensive assignments you will have completed during your MBA. You will gain an appreciation for the complexity and responsibility the senior executives continually face. Hopefully, you have experienced the holistic and competitive environment from the simulation. Your recently completed Annual Operating Review will provide the basics.
The information, qualitative and quantitative, in an annual report should provide current and prospective investors (as well as any stakeholder) a complete insight into the company’s historic performance and its plans for growth and improvement over the next few years as defined by its strategy. Publicly traded companies are required by law to prepare and submit to many constituencies a variety of filings. The most well-known is the Annual Report to Shareholders and related Form 10-K. An annual report is technically an unofficial document. The Form 10-K will typically provide the most comprehensive summary of the company’s history, financials, risks and opportunities, and current operations. The Form 10-K is submitted annually to the U.S. Securities and Exchange Commission (SEC). Technically, HISCO is a private company (you may have sold equity to the venture capitalist) and only if it had publically trades debt would be required to file a Form 10K.
As a future leader of a public or private company, you will learn the integrative nature of any business while you complete the HISCO summary annual report. This document can become an important part of your e-portfolio in the program. Your owner, Stanley Sloane, looks forward to reading your HISCO summary annual report. While details may vary state by state, even if your career leads to growing a small private business, you will need to file an annual report with The Secretary of State in your jurisdiction, another benefit to learning from our final activity.
The following identifies specifics instructions for preparation of each required section. The required sections to be completed will be found the word document from the model. Please remember to periodically save your work. An online search will reveal innumerable sites devoted to annual reports.
The HISCO Summary Annual Report
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