Annual Report Essay

fiscal year 1994. 2. Disclosure of franchising stores operating results The operating results of the franchising stores were not disclosed in the company¡¯s financial statements, except for the system-wide store revenue. From the data of annual report, we understand that the total of all franchising stores increased significantly from $152 million in 1993 to $383 million in 1994. However, we have no ideas whether such stores were making profits or not. The profitability of the franchising stores

Changes in FASB Accounting Standards In 1973 the Financial Accounting Standards Board (FASB) was established to set the financial accounting standards in the United States of America for nongovernmental entities. These standards are collectively called U.S. Generally accepted Accounting Principles, or U.S. GAAP. The Securities and Exchange Commission (SEC) and the American Institute of Certified Public Accountants acknowledge the authority of these standards (FASB, n.d). A “proven, independent due

their accounting policies and accounting estimates and also disclose the correction of errors (Carlin and Finch, 2008). The requirements of this standard: Scope: The AASB 108 applies to every company who are required to file financial statements and reports under the Corporations Act. And it also applies to companies that operate in both profit seeking and non-profit seeking sectors. In particular this accounting standard deals with: - The accounting policies that are identified and applied by different

having the ability to delivery tour message in a clear cut, straight to the point manner. For managers, staff and admin assistants and myself, writing is an important part of their job, and can’t be avoided. When I am writing an e-mail, formal memo, report, or review, I must write it so that it is clear and engaging. When I or my coworkers are pressed for time, sorting through a long-winded document trying to figure out the writer’s points is not ideal. Lack of clarity in business communication causes

occurred following disruptions, in 2004 following 9-11 and again in 2009 following the global recession (Ghadge et al., 2012). Data required for variables Company financial information from annual reports will deliver required data to measure the variables. The resilience variable sample will consist of annual DOI and C2C data for each year in the 10-year period from each company. The performance variable sample will consist of OM and ROA ratios for each year in the 10-year period from each company

which accounts for the $1,000,000 difference. Additionally on the Statement of Revenue and Expense for years 2008 and 2009 there was a discrepancy of $1,000,000 in 2009. This discrepancy appeared on the provision for doubtful accounts. The unaudited report showed $13,797,000 and the audited shows $14,797,000 which accounts for the $1,000,000 difference. This makes the “net income” for the year (2009) $627,000 in the unaudited, and 373,000 in the audited statement. The financial ratios for Patton

Introduction to Real-World Annual Reports Company explored in the case study: Site group intl. Ltd (SIT) Student Name: Shavini Weliwita ID Number: 13487622 Introduction to Company Annual Report and Financial Statements: Question 1: Site group international limited (SIT) is an Australian company which first started in 1986. The reason as to why this company was first started in Australia is so, that they can provide countries including Australia with different training, education and also staff

Fraudulent financial reporting has gained substantial attention from the public after the scandals of many high profile companies in the 21st century. Periodic cases of financial statement fraud raise concerns about the credibility of financial reports and are as a result of problem in the capital markets, a dropping of shareholder value, and, the bankruptcy of the company. Thus, to respond to the public pressure over acts of corporate offense, the Sarbanes-Oxley Act (SOX) was enacted in 2002. SOX

financial reports adhere within compliance according to current authoritative standards. Many cite the Sarbanes-Oxley Act (SOX) of 2002 as being legislation that has had the most profound impact on the auditing profession; incidentally, an auditor’s job is to certify financial statements are a fair representation of a company’s financial position, at a given point in time, using current acceptable standards. Society deems auditors as gatekeepers and expects the auditing profession to find and report fraud

According to Farlam (2005) and Schönteich (2007, the South African government saw PPPs as a way to radically improve/enhance infrastructure and service delivery to its people and as a way to redress the inequalities that were evident. To this end, they appointed a task team to develop legislative, policy and a framework for PPPs (PPP Unit). As a result, a PPP Unit was established in National Treasury. Schönteich (2007) remarks that as a way of redressing inequalities and social imbalances, the PPP