According to the Securities and Exchange Commission a comprehensive annual report of a company detailing its public performance is prepared. This is known as Form 10-k annual report. The report clearly defines the history of the business, the products it offers, the organizational structure, equities, subsidiaries, audited financial statements, risk factors involved as well as the legal proceedings of the firm. This essay provides a detailed overview of Harman International industries. The company is a worldwide producer of high quality audio and electronic products. The internal strategic marketing plans adopted by the company provides a broad market under well know brand names. The company is also a leader in digitally integrated info entertainment systems in the automotive industry.
The company is divided into various segments to help provision of satisfactory customer service. The segments are well structured ensuring that the professionalism of the company is not affected but the consumer segments are improved. Other segments include the compensation, corporate employees benefit and occupancy cost as well as the company brand identity campaign. The company results of operation depend on the sales of the audio products and electronic system. From here a 10-K report is generated and made public to the shareholders and the authorities. The report covers the sales made in major markets of the company which are situated in Germany and some states in the United States.
Since the company has an operational cost of more than $10 million and above 500 shareholders, filing periodic reports is a requirement by the law. This must be done regardless of whether the company securities are traded privately or publicly. Harman International industries being a multinational company provides shareholders with the Form 10-K on demand. The filed report includes the performance of the company across its different markets, future projections as well as a detailed account on how the company deals with market changes. The company’s aggressiveness in acquiring new markets is also shown.. The report also includes market information that is gathered from internal sources, market research as well as publicly available information in the public domain. The provision of a form 10-K based on an estimation is critically risk. This is because of the inherent nature of the uncertainty of the risks. Based on various different factors, the risks fluctuate without control.
The following illustrates the contents of Harman International industries 10-K report. The business section includes an outline of the company’s mission and vision, with well detailed information on what the company offers. After a definition of the company’s products, dealings and mission, a section that includes the segments and structure of the organization. The company also defines its strengths and why it is a world class portfolio. The technology it uses to provide quality and authentic software’s to the general public. The final phase in the report includes a projected growth in the company. This is especially useful to contain the current investors in the company while trying to lure new ones. Providing concrete information on ways to acquire production resources at a reduced cost is a key factor to consider in the provision of a Form 10-K.