a. What is the size of General Mills' business? That is certainly, based on whatever you know about the organization and on the accompanying monetary statements, how does General Generators make money?
Basic Mills, Inc. has 3 segments. U. S. Selling sells ready-to-eat cereals, dishes, yogurt, organic and natural foods, etc . The Intercontinental segment involves retail business in Canada, The european countries, Latin America and the Asia/Pacific region. Bakeries and Foodservice sells to retail and wholesale bakeries, and convenience stores. The company make money through generating various meals and companies distributing all of them over the world.
b. What financial statements are commonly well prepared for external reporting functions? What titles does Standard Mills provide these statements? Exactly what does " consolidated" mean?
Balance sheet, income assertion, the affirmation of cash movement and the declaration of shareholders' equity are generally prepared to get external reporting purposes. Games that Standard Mills provide these statements are consolidated stability sheets, consolidated statements of earnings, consolidated statements of money flows and consolidated statements of stockholders' equity and comprehensive profits. " Consolidated" means that individuals financial transactions includes Standard Mills' subsidiary companies.
c. When do publicly traded corporations typically prepare economical statements pertaining to external revealing purposes?
SEC requires quarterly financial claims 10-Q and 10-K. All public companies should prepare their economic statements for external revealing purposes depending on this schedule.
deb. Who is accountable for the monetary statements? Talk about the potential users of the General Mills economic statements and the type of info they are likely interested in.
The management of General Mills, Inc. is in charge of the fairness and accuracy of the consolidated financial assertions. Potential users of these economic statements could be shareholders, credit card companies, suppliers, employees,...
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