Professional Documents
Culture Documents
1.0
INTROUCTION......................................................................................................
2
1.1 Missions.......2
1.2 Visions..3
1.3 Financial Highlights3
1.3.1 Revenue4
1.3.2 Profit before tax...5
1.3.3 Profit after tax..6
1.3.4 Profit before tax margin..7
1.3.5 Profit after tax margin.8
2.0
ACCOUNTING INFORMATION USERS OF BONIA CORPORATION
BERHAD......................
2.1 Auditor.9
2.2 Employee....10
2.3 Government10
3.0
RELIABILITY CHARACTERISTIC OF ACCOUNTING INFORMATION FOR
INTERNAL USERS ...11
4.0
RELEVANCE CHARACTERISTIC OF ACCOUNTING INFROMATION FOR
EXTERNAL USERS..13
5.0
SUMMARY.14
REFERENCES
1.
Our Group was incorporated in Malaysia on 2nd January 1997 under the
Companies Act, 1965 as a private limited company under the name of ZHULIAN
CORPORATION SDN BHD. Subsequently in February of that same year, we were
converted into a public limited company and assumed our present name. On the
27th April 2007, ZHULIAN CORPORATION BERHAD (ZCB) was officially listed on
the Main Board of Bursa Malaysia Securities Berhad.
ZCB is an investment holding company of ZHULIAN's Group of Companies. Our
core business is in Multi Level Marketing (MLM), with diversified interests in the
manufacturing and trading of costume and fine jewellery, consumer products
and printing. Our group was formed under the prudent leadership of Mr. Teoh
Beng Seng who has nearly 30 years of experience in the jewellery manufacturing
business.
In 1989, Mr.Teoh Beng Seng, deeply inspired by his vision to establish a 100%
Malaysian owned direct selling enterprise, had initially founded the first jewellery
factory, ZHULIAN GOLDCRAFT SDN. BHD.. The company subsequently assumed
its present name, ZHULIAN JEWELLERY MANUFACTURING SDN. BHD. (ZJMSB) a
year later. In the same year of 1989, ZHULIAN MARKETING (MALAYSIA) SDN BHD
(ZMMSB) was established to market and distribute the products produced by the
factory. Since then, ZMMSB has remained as the distribution arm of our Group
and would expand its scope of products to include consumer products in later
years.
ZHULIAN PRINTING INDUSTRIES SDN BHD (ZPISB) has commenced its business
operations since 1994 as a printing company that deals with all kinds of
packaging and promotional materials including brochures, leaflets, catalogues,
name cards and other related documents.
As for overseas growth, we have expanded our business regionally to Thailand,
Indonesia and Singapore with the establishment of ZHULIAN (THAILAND) LTD.
(ZTH) in 1996, PT. ZHULIAN INDONESIA (PTZI) in 1997 and ZHULIAN (SINGAPORE)
PTE. LTD. (ZSG), which has commenced its business operations since 2004.
Direct Selling - more than two decades of strong foothold in the market and an
extensive network size of more than 320 agencies and more than 670,000
Distributors in the South East Asian region, ZHULIAN is poised to further develop
its MLM network to international arena by reaching out beyond boundaries
through the promotion of our unique MLM business opportunity.
ZHULIAN's success is evident with strong distribution base, state-of-the-art
manufacturing facilities, well-integrated infrastructure and widely diversified
products of the highest international standards that are supported by a
dedicated R&D team which is always in pursuit of innovation and quality.
Vision
We aspire to become a respectful leading company for health and beauty
products by gaining customers enthusiasm and trust through continuous
improvement driven by innovation, teamwork and integrity.
Mission
We are dedicated to excel in resource management, product quality and
customer service to ensure customers will continue value our products, ZHULIAN
members will build their businesses, employees will build their careers and
shareholders will build their wealth. The following are seven guiding principles of
our business practice:
Being innovative in managing our brands and products to enhance our
competitiveness.
Being enthusiastic in serving our customers to our best.
Being mindful to provide a conducive working and business environment for our
people.
Being respectful towards diversity in building a strong people network.
Being passionate in developing entrepreneurial spirit among our people.
Being hearty in contributing positively to our communities and our environment.
Being visionary in building our financial solidity and maximising our shareholders
return.
Financial Highlight
Revenue
Total Assets
Each organization has implied and clear goals and objectives. Many
organizations have a mission statement that particularly describes their goals.
These goals can vary widely among organizations ranging from non-profit
organizations, where goals are aimed at serving specified elements, meanwhile,
for profit organizations where goals are directed toward maximizing the owners
objectives.
Business owners often require financial information when making business
decisions. Incorrect or inappropriate information can hamper decision-making or
cause business owners to make incorrect assessments about their companies.
Accounting information must be reliable. This is because business owners can be
assured that accounting information presents a good quality of the companys
financial presentation. Business owners of Bonia Corporation Berhad need
accounting information that is applicable to the business decision at hand. They
can request financial statements and all the working papers throughout the
accounting process. As for the example, the cost distribution reports might not
provide sufficient information for business owners who must make a decision on
hiring employees. Business owners should particullarly request and review
accounting information. This is because, is to ensure it provides the most
valuable information for the decision making process.
Accounting information must be understandable. This is an important qualitative
characteristic for business owners like Bonia Corporation Berhad. Many business
owners do not have a strong accounting background. Business owners should
choose an accountant who can prepare information in an easily understandable
manner, which in this case, BDO Chartered Accountants happened to be the
professional accountant for Bonia Corporation Berhad in order to provide
understandable accounting information for them.
Therefore, the owner of the Bonia Corporation Berhad will need to analyse using
the provided accounting information in order for them to buy new investment
properties to increase their non-current assets or to sell their properties. All the
decision that will be made by the owners of Bonia Corporation Berhad will be
based on the accounting information provided in the annual report and
information provided by the chartered accountants.
5.0 Summary
Relevance and reliability are two of the four key qualitative characteristics of
financial accounting information. Relevance requires that the financial
accounting information should be such that the users need it and it is expected
to affect their decisions.
Reliability requires that the information should be accurate and true and fair.
Relevance and reliability are both critical for the quality of the financial
information, but both are related such that an emphasis on one will hurt the
other and vice versa.
Information is considered relevant which adds value to the decision making
process by providing the required bits and pieces of past, present and future
times. Through relevant information users can evaluate whether they are moving
along the right path i.e. making correct decisions.
Information is also said to be relevant when it is capable of confirming or
correcting the existing thought process and information.
Many students might think that financial statements always relates to past
(financial period that have already passed) then how come past information can
help us in making decisions? Well to give you a simple example, we all use our
experience to decide about something and certainly experience is always what
we already know from the past. Same ways, past information given in financial
statements help us in predicting the financial position and financial performance
of the company in upcoming financial periods. So, even past information can be
relevant.
Information is reliable when it is dependable and this is possible if it is:
free from errors, especially material errors
complete
free from bias
Information may be relevant but this alone does not suffice for reliability as well.
Information must be reliable as well as relevant in order to be useful for decision
making. There are many other factors that contribute towards the reliability of
the financial information.