Individual Project #5_jer_accounting

Individual Project #5_jer_accounting - RUNNING HEAD 2...

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2 Individual Project #5 James E. Rose Jr. American Continental University Abstract Good morning. Today, I will be discussing with everyone about a for-profit organization. I will also discuss about the research I discovered of an unusual or conflicting accounting principle that has impacted my chosen organization. I will present to all who are present a review and analysis of the organization’s published accounting statements of the last two years. The for-profit organization I am researching today is Starbucks. We’ll start with their accounting statement from the last four years since it’s an annual report and a brief history of the famous coffee company.
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3 Starbucks is a coffee house that first started its business in Seattle’s Pike Place Market in 1971. Starbucks purchases and roasts high-quality whole bean coffees and sells them along with fresh, rich-brewed, Italian style espresso beverages, a variety of pastries and confections, and coffee- related accessories and equipment -- primarily through its company-operated retail stores. In addition to their sales through their company-operated retail stores, they also sell their whole bean coffees through other retail stores and supermarkets across the globe. One of their main objectives is to make Starbucks one of the most recognized and respected brand names in the world. In order for them to achieve this, they would continue to expand their retail operations and channels to make it widely available to the general public. Their mission statement is to establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining their uncompromising principles while they grow. They base their mission statement on the following six principles: 1.) Provide a great work environment and treat each other with respect and dignity. 2.) Embrace diversity as an essential component in the way we do business. 3.) Apply the highest standards of excellence to the purchasing, roasting and fresh delivery of our coffee.
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4 4.) Develop enthusiastically satisfied customers all of the time. 5.) Contribute positively to our communities and our environment. 6.) Recognize that profitability is essential to our future success. Some of the major issues of the Starbucks Corporation that they have dealt with over the past year were the issues concerning their accounting methods. In the past few months, restaurant chains such as McDonald’s Corp., Wendy’s International Inc., and many others announced changes to the way they account for leases. Starbucks believes that its accounting methods are inconsistent with various views by the SEC. Starbucks expects to make changes to the way it accounts for tenant improvement allowances and rent holidays. Starbucks is part of the Services sector of the Restaurants Industry and has the ticker
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This note was uploaded on 08/10/2011 for the course ACCT 205 taught by Professor Shanakoh during the Spring '10 term at AIU Online.

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Individual Project #5_jer_accounting - RUNNING HEAD 2...

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