The Poultry Products Inc.

International Financial Reporting Standards, in many ways, are similar to Generally Accepted Accounting Principles (GAAP) however, a few key differences do exist. One of the differences to be most aware of would be necessary changes. “Many companies will need to make significant changes to existing accounting policies to comply with International Financial Reporting Standards (IFRS), including such key areas as revenue recognition, inventory accounting, financial instruments and hedging, employee benefits plans, impairment testing, provisions, and stocked-based compensation.” ("PWC", 2014) Of these listed areas of particular concern for Chester Inc. will be revenue recognition, inventory, and financial statements. Changes in these areas are not just structural or largely cosmetic in nature,

Leadership & Family Enrichment Programs (Programs designed to help strong youth with leadership programs, supporting families, and enriching marriages)

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.

Differentiate between the Generally Accepted Accounting Principles and the International Financial Reporting Standards for their impact on financial

International Financial Reporting Standards, in many ways, are similar to Generally Accepted Accounting Principles (GAAP) however, a few key differences do exist. One of the differences to be most aware of would be necessary changes. “Many companies will need to make significant changes to existing accounting policies to comply with international financial reporting standards (IFRS), including in such key areas as revenue recognition, inventory accounting, financial instruments and hedging, employee benefits plans, impairment testing, provisions, and stocked-based compensation.” ("PWC", 2014) Of these listed areas of particular concern for Chester Inc. will be revenue recognition, inventory and financial statements. Changes in these areas are not just structural or largely cosmetic in nature

In the documentary Food Inc. declares that most americans have no idea where their food comes from because the food industries does not inform the people on how they process their food to make it look as appetising. Chicken farm owners that work for Tyson are required to follow the rules of Tyson because if any Tyson employee’s, break any type of rules they are required to follow they will be fired or being threatened with getting fired. For example, Tyson requires that if they let anyone video record inside the chicken houses they would be fired because chickens are trapped in a tent, and the chickens are standing in their own feces. These chickens are so big that can only walk up to 3 steps, and then sit back down.

Boston Chicken is a company to operate and franchise food service stores that sold meals featuring rotisserie-cooked chicken, fresh vegetables, salads, and other side dishes. Its concept is to combine fresh, flavorful, and appealing meals associated with traditional home cooking with a high level of convenience and value. Boston Chicken focused its expansion through franchising the company through large regional developers rather than selling store franchises to a large number of small franchisees. In that, an established network of 22 regional franchises that targeted their operations in the 60 largest

This step is aiming not only to clarify the goals of the organization but transferring those goals to numbers to be achieved in certain dates.

The documentary Food inc. by Robert Kenner is a documentary about the food industry and some of the issues that have emerged with the modernization of said food industry. Robert Kenner presents his arguments in sorts of subtitle such as “The dollar menu”, and “The cornucopia” to help identify his main points. Robert Kenner also brings in some experts such as Michael Pollen and Barbara Kowalcyk, into his documentary to bring some credibility to his argument, as well as adding specific music at particular times to tug at the emotions of the viewers. In this documentary Robert Kenner not only shows what happens to those who eat the products produced by the corporate food industry but also those who help in the production.

This research project will inform the reader of the difference between the United States accounting standards and International accounting standards. The United States uses the Financial Accounting Standards Board (FASB) to issue financial reporting procedures. The International Financial Reporting Standards (IFRS) are issued by the International Accounting Standards Board (IASB). There are proposals for the United States to adopt the International standards. Financial reporting procedures are debated about the United States using the Generally Accepted Accounting Procedures (GAAP) or following the global procedures. This

As the business environment grows and companies find new ways to expand into their respective - or even new – markets, it is important that reporting standards stay up to date with changes and continue to assist companies in providing their users with useful accounting information. Information is labelled as being useful when it meets the

How might Wings and Legs combine a lean and agile approach in its supply chain?

and of the information decoupling point? How do they relate to each other with respect

The US Generally Accepted Accounting Principles (GAAP) is a set of international accounting rules which originated from the United States. US GAAP can be defined as a set of accounting principles, standards and procedures that companies use to compile their financial statements (Elliott & Elliott, 2008). The International Financial Reporting Standards (IFRS) on the other hand are accounting rules originating from the United Kingdom. International Financial Reporting Standards (IFRS) are a set of accounting rules designed with a common global language for business affairs so that financial accounts of companies are understandable and comparable across international boundaries (Devinney, Pedersen & Tihanyi, 2010).

The accounting world is shaped by stringent and clear rules, principles, standards and guidelines. These are all meant to define accounting operations and reporting discipline. With the emergence of International Accounting Standards (IAS), which was later replaced by International Financial Reporting Standards (IFRS), the accounting concepts, analysis, disclosures, reporting and presentation became easier and practical. Currently, accountants, managers and related parties find it concrete and consistent in protecting professional boundaries.