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Financial Analysis Assignment PDF

   

Added on  2021-05-31

5 Pages695 Words142 Views
Running head: FINANCIAL REPORTING AND ANALYSISFinancial reporting and analysisName of the StudentName of the UniversityAuthor Note

FINANCIAL REPORTING AND ANALYSISSummary of activities of company:Bega Cheese is a dairy company based in Australia that was established in year 1899and is located in Bega Valley in New South Wales. Organization has been successful inproducing and distributing value added cheese products that are of higher quality to theconsumers of Australia and around fifty countries of world. Activities and input oforganization are controlled through the quality management system of group that helps inprocuring ingredient to the delivery of products. Group intends to maintain close relationshipwith its dairy farm suppliers in relation to system of environment management. The principal activities of Bega is to receive, process, manufactures and distribute thedairy and associated products to the consumers of Australia and other countries in the world.There is an active engagement on part of group with the suppliers of milk across the countryfor assisting them in the facets of the dairy business. The factors that are consideredimportant for prosperity and growth of business of Bega are efficiency, sustainability andsuccession (Bega Cheese.com.au 2018). Group is committed to carry out the activities in asocially and environmentally sustainable manner intending to improve the farm practices andminimizing the environmental impacts.Identification of key accounting policies relevant to the success of company:The accounting policies of group have been applied by considering the significantareas of estimation, critical judgment and evaluation that have considerable impact on therecognized amount in the financial statements. Financial report of the group is prepared byadopting principle accounting policies that have been applied consistently in all the areas. The general purpose financial statements are prepared according to the CorporationAct, 2001 and Australian accounting standard board and its interpretation (Leuz and Wysocki2016). In addition to this, there has been change in subsidiaries accounting policies that is

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