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Disclosure Analysis Paper - David Trejo

Disclosure Analysis Paper - David Trejo - Disclosure...

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Disclosure Analysis 1 Disclosure Analysis Paper David Trejo ACC422/Intermediate Accounting II November 22, 2010 Facilitator: Eric R. Oechsner
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Disclosure Analysis 2 Disclosure Analysis Paper Full disclosure is required by Federal law for all public companies. Full disclosure is a principle where requirements to disclose all pertinent financial information be reported by a company and to fully disclose information that generally does not appear on a company’s financial statements. Over the past 10 years, the usage of the full disclosure principle has increased due, in part, to all of the fraudulent activities of companies like Enron and WorldCom. This paper will discuss the disclosures of Hershey Company reported within the notes of the financial statements related to cash and cash equivalents, receivables, and inventories. Hershey Company Hershey Company (Hershey’s) was incorporated by its founder, Milton S. Hershey, in 1927 (Hershey’s, 2010). Hershey’s was started by its founder in 1894, on an idea Milton Hershey had of covering his caramels with a chocolate confection. Through hard work and brilliant business ethics, Hershey’s has become the largest producer of chocolate products in North America and a global leader in the chocolate confectionary industry with net sales of 5.2 billion dollars (Hershey’s, 2010). Hershey’s was also the first chocolate company who offered chocolate products to the masses by means of mass-production. In the 1800s and early 1900s, chocolate
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