本篇美国英语语言学论文代写-GAAP和act的重要性讲了GAAP(一般公认会计原则)是所有行业的企业使用的一套规则和戒律，以便企业创建的财务报告采用标准化格式。通过这种方式，企业能够保持所创建报告的一致性，欺诈活动或错误的风险更小。本篇美国英语语言学论文代写由美国第一论文 Assignment First辅导网整理，供大家参考阅读。
Part 3 Importance of GAAP and act
The GAAP (generally accepted accounting principles) are all the sets of rulings and commandments which are utilised by businesses all over the industries so that the financial reports created by the business are in a standardised format. This way, the businesses are able to maintain consistency for reports created and there is lesser risk of fraudulent activities or errors (Libby & Lindsay, 2012). As per the GAAP, it is depicted that business must make use of annual statements for reporting the business situations and its future prospects. These reports and statements allow the user to analyse the financial amendments and sales of the business. These reports are independent and therefore, this can be used for finding out the next phase of development of the business. This can be effectively utilised by the management for controlling the business and making strategic amendments to it.
However, this business utilises various non-GAAP methods for discussing the financial performances. Auntie’s reports of the business are not created with respect to IFRS of New Zealand. The management of this business has a belief that this non-GAAP measure gives useful details because they give important insight on the business performance. This might be used internally for evaluating the business performances and analysing the business trends. The business has not defined these measures uniformly. What it believes is that other businesses uses different kinds of measures for comparison and uniformity is not expected (“Fonterra Co-operative Group Limited”, 2017). These non-GAAP financial methods must not be seen in an isolated person nor must these be considered to be replacement of reporting with respect to New Zealand IFRS.
The company’s current taxation system
As for the interim results provided by the business for the year 2017, the net profit after tax has been $418 million and total sales volume was 11 .7 billion LME. This net profit after tax had been 2% more than the past years figures. Moreover, this revenue was 5% more than the last years same period (“Fonterra announces 2017 Interim Results”, 2017). The normalised EBIT was more than $600 million with the business becoming stronger. There has been decrease in the net debt which was found by $793 million that is 11%. The gearing ratio of the business dropped to 46.6% which was 49.2% in the past year. This analysis shows that the company has a strong balance sheet and it is well placed to develop its markets and positioning in the coming times.
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