Burger King Holdings Inc. was formed in 23 July 2002 and incorporated in Delaware. The possession corporation restaurant rule includes restaurants owned by the corporation and immunitys. The corporation is the succor largest rapid assistance hamburger restaurant manacle (BurgerKingHoldingsInc, 2008). Controls set by the corporation The controls set by the corporation are to secure that the financial statements procure self-possessed assertion on the reliability of the financial statements and financial reporting.
Internal controls secure that the financial statements are easy according to GAAPs. Interior controls secure reform livelihood of chronicles, transactions are commemorative according to GAAPs and the obstruction of distrusted use or distribution of corporation’s property. The competency of the interior controls should be reviewed frequently to particularize their coextension although the controls put in fix may not obviate and unmask misstatements fond its limitations due to changing provisions or limit of compliance
Examples of controls are the shelter and affair controls put in fix to obviate access and use of separate notice possessed by the corporation that if leaked, may betray the corporation to litigations (BurgerKingHoldingsInc, 2008) Financial statements The completion produces for the corporation possess been growing balance the years. The completion produce in 2004 was $1. 7 billion prominence to $2. 4 billion in 2008. The corporation’s produces are generated by immunity and corporation owned restaurants.
In year 2008, 88% of sales were from immunity restaurants. The munificent allowance and net allowance balance the selfselfsame determination grew from $73 pet in 2004 to $ 354 pet in 2008 for munificent allowance opportunity net allowance rose from $ 5 pet in 2004 to $ 190 pet in 2008 The vapid rights per portion-out i. e. rights succeeding adjusting for dilutive effects rose from $106. 1 in 2004 to $ 137. 6 in 2008 Completion property grew from $ 2. 5 billion to $ 2. 6 billion in 2008.
Total stockholders equity as-polite witnessed augmentation from $ 716 pet in 2007 to $ 845 pet in 2008 Net capital flows from munificent activities grew from $67 pet in 2006 to $ 243 pet in 2008 Other aspects of the corporation’s operation is the beginning of 202 new restaurants which brings the corporation’s completion estimate of restaurants to 11,505 as of June, 30 2008 Techniques to excite financial statements The financial statements are easy and unreserved according to the GAAPs as polite as presented according to the SEC regulations.
The financial statements possess been presented based on the reportable segments of the corporation i. e. USA and Canada EMEA/APAC and Latin America. As seen antecedent, the corporation’s produces are generated from corporation’s restaurants and immunity restaurants. The separation has as-polite been performed according to the fountain of produce Comparison of restaurant sales from the three reportable segments has been performed in the financial statements (BurgerKingHoldingsInc, 2008) Impact
The provision of the financial statements according to reportable segments helps the corporation to formulate strategies for the sundry affair segments in outoutline delay their operation. Comparison of sales augmentation in the segments balance the years helps the corporation to evaluate the operation of each fountain of produces thus formulate strategies that can amend augmentation References BurgerKingHoldingsInc. (2008, August 28th). Form 10-k. Retrieved April 10th, 2009, from Burger King Holdings Inc. : http://media. corporate-ir. net/media_files/irol/87/87140/BKC_AR08/10-k. html