Accounting Case Study on General Mills
26. Major financing activities performed in 2002 was the change in long-term debt. They increased their amount of debt while paying off some of their notes payable. They also purchased some treasury stocks. In the year 2002, their net cash increased incredibly, by about $3,500 million, which was one of the biggest increases recorded over the previous years for net cash.
27. A major investing activity that occurred in 2002 was when General Mills purchased Pillsbury.
28. At the end of 2002, the company's most important assets were: inventories, goodwill, receivables, and land, buildings, and equipment. Other resources that might be important that aren't reported on the balance sheet are the skills and level of intelligence of the management and the employees, as well as the value of the brand name
29. If asked to assess the company's financial performance of General Mills in 2002, I would have to say that they were very successful. Their financial activities show that they are a growing and prosperous company; their operating and financing activities are increasing and the investing cash flows decreasing, keeping the inflow larger than the outflow. Their successfulness opens many new opportunities for them in the future.
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