Ph1IP2 Benchmarking - Phase 1 Individual Project 2 1...

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Phase 1 Individual Project 2 1 Running Head: PHASE 1 INDIVIDUAL PROJECT 2: BENCHMARKING Phase 1 Individual Project 2: Benchmarking Chris Normand Colorado Technical University Accounting 203-02 Prof. Dinah Carr May 24, 2010
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Phase 1 Individual Project 2 2 Abstract The purpose of this paper is to make a comparison of two leading candy companies in the United States, namely, Hershey Co. and Tootsie Roll Industries Inc. I will use financial statements I downloaded from my TD Ameritrade account to make the comparisons. The statements I will use are the Balance Sheet, the Income Statement, and the Statement of Cash Flows. I will make Hershey Co. the benchmark company and compare Tootsie Roll to it. My comparison will include the following criteria: Current ratio, Acid Test ratio, Debt ratio, Inventory turnover, Accounts Receivable turnover, Return on net sales, ROA (return on assets), ROE (return on equity), and EPS (earnings per share).
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Phase 1 Individual Project 2 3 Phase 1 Individual Project 2: Benchmarking I have been asked to choose the leading candy manufacturer in the industry and use them as a benchmark for my comparison. After much research, I believe Mars Co. is actually the biggest confectioners or candy company in the United States, however, they are privately owned and operated and I was not able to pull up there financial data to use as a comparison. In addition, Cadbury Adams Co. has just been taken over by Kraft Foods Inc. and I felt the comparison might not be as accurate as if I used two actual candy companies. Therefore, with that in mind, I chose Hershey Co. as my benchmark company since their market cap is huge in comparison to many other companies in their industry. I then chose Tootsie Roll Industries Inc. as the comparison company. All of my data are contained in Table 1 at the end of this paper. I will explain the
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This note was uploaded on 08/22/2010 for the course ACCOUNTING ACCT203 taught by Professor Carr during the Spring '10 term at Colorado Technical University.

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Ph1IP2 Benchmarking - Phase 1 Individual Project 2 1...

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