Introduction:
Milk dairying has been a part of agriculture for thousands of years, but historically, it was usually done on a small millions of small scale on mixed farms, millions of small scale farmers and landless agriculture are farmers playing a vital role in making success of the dairy co- operative sector in India. Developed dairying in the year 1850 in USA seen as the dividing between farms and factory scale product.
Milk is produced from the farmer or milk producer procured processed and marked customer or consumers in the cities. Since the milk purchased from farmers or milk producers who lived in rural places of the districts their by the economic conditions of the farmers are evaluated
Meaning of financial statement:
Financial statement is the summrerized of ledger accounts organized in such a manner as to show the profit or loss of business for the accounting year and the financial position of the business at the end of the accounting year. Financial statement helps the management to assess the performance or progress of the concern and to decide upon the course of action to be taken in future.
Financial statement is generally referred to two statements viz...
a. Income statements or profit or loss account.
b. Position statement or balance sheet.
Definition of financial statements:
a) Financial statement is concerned with the recording of business transactions in a set of books and the periodic presentations of the financial data recorded in the books of accounts through financial statements like the profit and loss account and balance sheet, to outsiders like creditors, shareholders, employees etc.
b) Financial statements are recording of revenues or income and expenses and assets and liabilities...
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...ormation related to the Milk industry is derived from various sources like articles, journals, periodicals, newspapers etc.
The collected secondary data sources analyze effectively, to find out the problems and apply suitable method to evaluate the problem.
Research design:
In order to analyze the financial statements. Ratio analysis, comparative and common size, ternd analysis are used and to adopt the Statistical techniques.
Period of the study:
The proposed study covers five years of financial statement the period of 2006-07 to 2011-12.
Limitations of the study:
The assess financial statements of MANMUL study based on the secondary data, the study must be limited to the accuracy of the given information.
Chapter Scheme:
1. Introduction.
2. Research design.
3. Company profile.
4. Financial performance analysis of MANMUL.
5. Conclusion.
The analytical formats used in response to question number 3 are threefold; 1) trend analysis, 2) common size analysis and 3) percentage change analysis. The rationale for this three-fold approach is that all other ratio analysis is derived from these three. The utilization of trend analysis aids in giving clues as to the financial status of the company is likely to improve or deteriorate. Likewise, the common size analysis relates to the fact that all income statement items are divided by
The objective of financial reporting/statements is to provide information about the reporting entity’s financial performance and financial position that is useful to a wide range of users for assessing the stewardship of the entity’s management and for making economic decisions.
The collection of these three financial statements identifies the financial position of the corporation to help identify the way forward financially for the company. Once all of the data has been collected for the annual reporting the corporation can analyze the data through the different financial ratios including the liquidity ratio, the asset management ratio, and the profitability ratio.
This is where the future of farming is headed as the small dairy farm begins to go away and the industrial or large scale farm begins to take over as it adapts better than the small farmers. As the demand for milk rises it will be harder and harder for the small traditional farms to compete with old inefficient outdated farming practices. This is where the adaptation begins to come in farmers are either going to have to expand and adapt or sell out to the Large scale farmers
The dairy industry in Canada is heavily regulated and organized. It has adopted a system of supply management and collective marketing that ensure a balance between the demand for dairy products and the supply for industrial milk. This
...ia-ridden and harmful milk of times past. The history of milk is certainly not dull, and its future is sure to be equally as turbulent.
Financial Accounting is ‘Asset valuation, accounting record completeness and accuracy, accounting estimates, reporting transparency, fair value accounting issues, convergence of accounting standards, evolution of accounting standards, audit efficiency and effectiveness’, as suggested by Accounting Dictionary (2014).
Financial accounting is the analysis, classification, and recording of financial transactions and reporting such information to respective users especially external users who use the information to make decisions about their engagements with the entity. In financial accounting general purpose financial statements are used for external reporting. The public by standards imposes the development of the statements through respective national professional bodies, International Accounting Standards Board and respective company Acts for various nations.
Looking at the financial reports of a company for the first time can be overwhelming if not intimidating. Analyzing the financial reports to determine the health of a company is much that same but different aspect must be looked at properly in order to predict and assess the health and wellness of a company. The different aspect in assessing the health of a company include the depreciation analysis, stock analysis, cash flow statement analysis, income statement trend analysis, management analysis, significant changes and possible reasons for the changes and implications of change.
I have selected topic-8 which is “An analysis and evaluation of the business and financial performance of an organization over a three year period” for my research and analysis project. The organization chosen here is a pharmaceutical company named “Beximco Pharmaceuticals Ltd.”(BPL) and decided to conduct a business and financial analysis between the periods from 01 January 2010 to 31 December 2012.
The Purpose of Financial Statements The financial statements of a business are used to provide information about the status of the business, set performance targets and impose restrictions on the managers of the firm as well as provide an easier method for financial planning. The financial statements consist of the Profit and Loss Account, Balance Sheet and the Cash Flow Statement. There are four areas of information, which we can collect from a company's financial statements. They are: Ÿ Profitability - This information comes from the Profit and Loss account. Were we can compare this year's profit with the previous years.
Mahatma Gandhi had once said “The soul of India lives in villages”. This statement was truly captured by Amul making India the largest producer of milk in the world today. But the journey of this accomplishment started five decades back in 1946 with a dairy cooperative movement in the Kaira district of Bombay. This movement led to the establishment of KDCMPUL (Kaira District of Cooperative Milk Producers Union Limited). It was renamed as Anand Milk Union Limited (AMUL) in the year 1955 and thereby started a legacy of an extraordinary journey which completely transformed the dairy sector in India. It was an answer to the exploitation of the milk producers on the hands of existing dairies like Polson Dairy. The story of Amul is a story of empowerment of farmers and realisation of many dreams. Amul was an assurance to the milk producers to buy their milk irrespective of the market conditions at predetermined prices. It was synonymous with high quality milk products at reasonable prices for the consumers. It was a profitable business enterprise comprising of large number of marginal suppliers and small level suppliers. The farmers were entitled with the authority of procurement, production and even marketing of the products. It was a victory of an indigenous business model.
The dairy industry is the sector with the highest degree of protection due to the economically vulnerable position of small milk producers. Milk also known as white gold, which can be used to make an enormous variety of high quality products. The high cost of milk as a raw material has necessitated a high-tech processing industry. The special nature of milk (perishable and bulky) leads to the necessity of strict and comprehensive quality regulation and to high transport costs. The large dependence of milk producers in the dairy processing industry has resulted in a strong position held by the co-operatives in milk marketing and in the processing industry.
This sector provides raw material to different industries in the form of capital. The national herd system consists of 29.6 million cattle, 53.8 million goats, 26.5 million sheep, 27.3 million buffaloes and 0.9 million camels (Shabbir, 2011). From the last three decades, the livestock sector is growing at 2.9 percent due to poor economic policies but on the other hand, human population growth rate is increasing 2.05 percent (Shabbir, 2011). Due to human population growth and urbanization, the demand for livestock products is increasing rapidly. But the current situation, it is difficult to meet the demand for the livestock products entire country because the human population is increasing rapidly than the growth of milk production. During 1999-2000, the government of Pakistan (GOP) has spent 1213.5 million Pakistani rupees (PKR) (almost 12.135 $ U.S dollars) for importing the milk products at high cost to fulfil the population need (Garcia et al., 2003) which is an extra burden on our economy and imports (Khan, Abbas, Naeem, Ayaz, & Akhter, 2013). By providing the credit opportunities to smallholder dairy farmers that would be helpful for improving the living standard and milk production (Hussain, Iftikhar, Khan, & Nisa,
Financial statements provide an overview of a business' financial condition in both short and long term. They help in understanding the past performance of the company and making future predictions about the company. It thus helps us to look beyond the profit figures.