Gourmet Products Inc. : A Canadian Public Company And Selling Its Products Globally

ISSUE: Accounting for Fuzzy Dice Inc. acquisition of Tiny Tots Toys LLC related to decision (1) to use purchased facility to enter another business line or (2) renovate the facility to expand the current production.

I was immediately intrigued from the beginning of Food, Inc. There was interesting and valuable information brought up during the film. Many people do not think about where their food comes from. I believe that if people were to know where their food comes from, they would not want to eat it. There are 47,000 products at a grocery store. But, Food, Inc. implies that this is in fact an illusion because all of them are made with the same crops. The fact that there are only a few multi-national corporations that control all of the crops and meat production is a huge surprise. I believe that each person in society would be absolutely shocked if they were to watch this documentary.

We would like to ACKNOWLEDGR A PERSON WHO HELP US for guidance to approach a company management and provide us information’s regarding their company Mr. Mohd Ismail Who gave us the time out of his busy schedule to nominate and recommend the sight for visit [gourmet bakery] Mr. Mohd ismail and Muhammad Farhan who provide us the required information, who helps us a lot and provide us with the necessity details, more over the refer us to Mr.Mohd Ismail And Mr. Muhammad farhan At Sargodha who also helps us completing our project.

In intellectual property assets and software showed its opening balance, closing balance, additions, disposals, accumulated amortization and impairment currency translation differences and net amount. Goodwill just showed the opening and closing balance and currency translation difference not any impairment loss. However, in intangible capital work in progress, it also showed other more informationabout amount transferred to software intangibles and transferred from PPE. At the end of the notes 12 of intangible assets, it provided additional information about the amortization charge that was recognized in general and administration expenses in the statement of comprehensive income （CSL annual report 2011）and impairment tests for cash generating units containing goodwill. CSL Behring and CSL Blotheraples all were CSL’s goodwill. The total intangible assets in 2011 were lower than before because of amortization in every year.

According to IAS 36 paragraph 104 “(b) then, to the other assets of the unit (group of units) pro rata on the basis of the carrying amount of each asset in the unit (group of units).” Fair value of CGU, including goodwill and liability, is 1,300,000. Since there is an impairment loss on goodwill of 300,000. The new carrying value is reduced to its fair value, which is 1,300,000-300,000=1,000,000.

b. The inventory write down recorded, as an expense by the company is $4.4 million. It is measured at lower of cost and net realizable value. Cost is measured by weighted average using standard cost method or

Whole Foods Market is a retailer company that has one operating segment of natural and organic foods supermarkets. It seeks out the finest natural and organic foods available to maintain the strictest quality standards in the industry, as well as obtain an immovable commitment to unending agriculture. Whole Foods Market has been operating 362 stores within the United States, Canada, and the United Kingdom since 2013.

Whole Foods Market, INC (ticker: WFM) one of the main leaders in supermarket/grocery industry. The company opened its first store in 1980 in Austin, Texas and it was among few supermarkets that were providing natural products. (1) Whole Foods Market was the first store to emphasis on organic food with a clear mission to be a provider of products with the highest quality. Whole Foods started expanding into different states across United States by mergers and acquisitions. Their first international expansion was into Canada in 2002, followed by and acquisition of seven Fresh & Wild stores in United Kingdom in 2004 which was the largest chain of organic grocery stores. (2) In order to lock their strong presence Whole Foods needed to make sure that their mission is heard and that they are faithful to their values. They are known for the highest quality products, before a product is available for purchase in stores it first goes through multiple steps of quality control and only when the requirements are met, the product makes it way to shelves. In order to satisfy organic standard, products need USDA approval, which prohibits the use of genetically modified organisms, pesticides, use of antibiotics or growth hormones in livestock. (3) Whole Foods is an environmentally sustainable, an example would be that they encourage their shoppers to either reuse shopping bags or they provide paper bags that are recyclable, they also donate good amount of money for environmental

For my individual assignment, I chose the company Whole Foods Market (WFM) which deals in selling products that are organic and fresh to its customers. WFM was founded by John Mackey and Renee Lawson Hardy, owners of Safer Way Natural Foods, and Craig Weller and Mark Skiles, owners of Clarksville Natural Grocery in Austin, Texas where the original store opened in 1980 and consisted of a staff of only 19 people. WFM was founded because those four local businesspeople decided the natural foods industry was ready for a supermarket format and at that time there were less than half a dozen natural food supermarkets in the United States (http://www.wholefoodsmarket.com/company-info/whole-foods-market-history). For the rest of this paper, I will be going more in depth about the company’s history and background, why I chose this company, the organization’s environment, mission, culture, and if the company will change or needs to change.

Matt Monkiewicz, director of marketing for Kayem Foods, Inc., is challenged with a decision pertaining to a small but fast growing product, Al Fresco chicken sausage. The product has become a brand leader in its market niche, and means on how to promote the product is in question. A “buzz” marketing campaign was recently used, and while the company did increase in sales, there is no way to directly calculate the effect the campaign had on the product. Mr. Monkiewicz would like to continue to use the “buzz” marketing approach, but supermarket executives and food distributers are unwilling to increase buying and support for the brand. They do not believe that this small marketing campaign is solid

With the non-current assets, plant & equipment has risen 3.4% due to an increase in depreciation, deferred tax is up 48.7% due to increases in provisions and the intangible assets are down 6.2% this is due to the company’s Clive Anthony write-off.

From the above table, it is assumed that during 2010-2014 Abul Brothers cash purchase 0.0038 (Million $) and total sales 0.0032(Million $) on credit. To determine their net income/loss on the cash basis of accounting, cash paid for purchases 0.0038(Million $) has been considered for this a loss of 0.0038(Million $) has been occurred. Since there is a loss of 0.0038 (Million $) so during this year no tax, no EPS and no DPS. Nurania Store credit purchase 0.0026 (Million $) and total sales 0.0023 (Million $) on credit. To determine their net income/loss on the cash basis of accounting, No revenue and expenses has been considered. During this year no tax, no EPS and no DPS for this firm. Shatkhira Ghosh Dairy cash purchase 0.0064 (Million $) and total sales

Generally, depreciation expenses with assets are recorded right away, yet Athina’s management failed to do so as an error and therefore this can be seen a usual/non-recurring item. The solution is to deduct the $175,000 as an unusual/non-recurring expense after a net income has been calculated for the business’s normal transactions (Refer to Appendix 1). Objectives of the investors will not be met with this solution as it maximizes income and pay out amount, but their method is still correct as well.

‘ Kraft foods group Inc. is an equal employment employer and is committed to providing employment opportunities to minorities, females, veterans, and disabled individuals. As an equal opportunity employer, Kraft foods are committed to a diverse and inclusive workforce’ (Kraft Foods Group Inc. 2012). The human resource department of Kraft foods has this strong statement which provides a clear and distinctive image of what the company has to offer. This highlights Kraft’s foods differences in comparison to other companies in terms of what Kraft foods is willing to offer and aim to achieve for all individuals which include employment opportunities to all despite age, sex and status. Kraft’s staffing policy is open and inclusive and has a simple concept. In most cases, managers are hired in their home country, e.g. manager in Greece is Greek nationality, but later on he/she is transferred to another country within the Kraft’s operations.

This paper aims to clarify the Financial Accounting Standards Board (FASB) accounting standards regarding the valuation and impairment of goodwill; therefore, the primary source used is the FASB website. The focus of this paper will be on the valuation of goodwill in business combinations and the impairment of goodwill. This paper will not discuss the valuation of goodwill in an acquisition by a not-for-profit entity. The paper will first define key terms required for understanding FASB standards of the valuation and impairment of goodwill. The paper will continue on to outline International Generally Accepted Accounting Principles (IGAAP) regarding the valuation and impairment of goodwill. This paper will illustrate the history of the