Accounting of Pepsico

ACCOUNTING OF PEPSICO Lesley Cummins American Intercontinental University Francis Hoban celestial latitude 2012 ABSTRACT This paper will hash out the finding that I came upon during the review of PepsiCos annual report. They argon a precise strong and mugwump company and a lot could be learned from their method of accounting tactics. During the PepsiCo audit there were no versed errors to be reported. All consolidated financial statements were presented fairly and accurately during the period of declination 26, 2009 to December 25, 2010. The midland control in charge of financial reporting did not show any misstatements (Annual Report, 2010).PepsiCo maintains strong controls oer the financial reporting. The dodge works score of the framework of the Committee of Sponsoring Organizations of the Treadway Commission (Annual Report, 2010). This system is designed to offer support and middling assurance that all transactions are recorded sufficiently. Within the PepsiCo annual r eport, meeter reports and management reports there were no put down discrepancies or conflicts inside the ledgers of the company. PepsiCo prides themselves on doing what is right. They are continuously working to monitor their internal controls through with(predicate) self-assessments and ongoing internal audits. wiz election that PepsiCo should institute within their internal auditing discussion section if they do not already is to crave mandatory one to two calendar week annual vacations. This is a safeguard that keeps employees, managers and auditors honest. One thing that PepsiCo does do is keeping the decision maker committee actively involved. They need to reckon the strategy and financial performance of the company. The target is to ensure that they remain objective and consistently challenging their approach to potential opportunities and issues within the business, as well as observe the esults and controls. PepsiCo is very proud to have an active, wide awake an d capable Board. They meet the required step for independence. Their audit committee has high standards and is comprised of independent directors with a keen financial literacy, intimacy and an abundance of experience to create a very strong team. Financial Highlights PepsiCo, Inc. and subsidiaries (in millions draw off per cope data all per share amounts assume dilution) 2010 Scorecard We understand that companies gain ground when society succeeds, and whats good for the homo is good for business.Performance with Purpose ensures that this powerful whim is woven into everything we do at PepsiCo. scarce equally important, it is proving to be a driver of financial performance for our shareholders today and into the future. We prolong to strike the balance between the short-change term and the long term through investments in acquisitions, research and development and appear markets. REFERENCES Annual Report. (2010). Report of Independent Registered worldly concern Accounti ng Firm. Retrieved from http//www. pepsico. com/annual10/financials/auditor-reports. html