Fazer is probably most known for its chocolate. Below is the link to the company's homepage.
Required:
Go to each company s website and review the most recent financial statements for each company and answer the following questions.
What accounting standards are used?
What auditing standards are used by the external auditors?
Analyze and comment on the differences in the annual statements found on the companies' websites. Provide a few specific differences in content and format.
How comparable are these financial statements?
Prepare a table for a period of three years showing some key financial information for the two companies. Include at least four items from the balance sheet, four items from the income statement, and four items from the statement of cash flow. Having reviwed and analyzed the financial information, please elaborate on the following three questions.
Which one of the two companies is the most profitable?
Compare growth of revenues versus income over time and between the two companies
How can you explain the difference in profitability between the two companies?