Essay about Annual Report

Submitted By jbird96
Words: 1902
Pages: 8

Coca Cola Annual Report 2011

April 13, 2013


Introduction 3 3
Auditors Information

Subsequent Events 4

Trends (Assets/Liabilities) 5

Largest Assets/Liabilities 6

Shares Info

Single or Multi-step Income Statement? 6

Trends in Net Income (w/comprehensive net income) 7

Direct or Indirect Method? 8

Largest Items in Cash (Investing Activities) 8

Trends in Cash From Operations 8

Conclusion 10

References 11

Introduction The Coca-Cola Company is the world’s largest beverage company. We own or license and market more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a variety of still beverages such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks. We own and market four of the world’s top five nonalcoholic sparkling beverage brands: Coca-Cola, Diet Coke, Fanta and Sprite. Finished beverage products bearing our trademarks, sold in the United States since 1886, are now sold in more than 200 countries. We believe that our success depends on our ability to connect with consumers by providing them with a wide variety of options to meet their desires, needs and lifestyle choices. Our success further depends on the ability of our people to execute effectively, every day. Our goal is to use our Company’s assets — our brands, financial strength, unrivaled distribution system, global reach, and the talent and strong commitment of our management and associates — to become more competitive and to accelerate growth in a manner that creates value for our shareowners.

Auditing Coca Cola has a committee that takes care of all audit work. The Committee will represent and assist the Board in fulfilling its oversight responsibility to the shareowners and others relating to the integrity of the Company's financial statements and the financial reporting process, the systems of internal accounting and financial controls, the internal audit function, the annual independent audit of the Company's financial statements, the Company's compliance with legal and regulatory requirements, and its ethics programs as established by management and the Board, including the Company's Codes of Business Conduct. The Committee shall also oversee the independent auditors' qualifications and independence. The Committee will evaluate the performance of the Company’s independent auditors, including the senior audit engagement team, each year and determine whether to reengage the current independent auditors or consider other audit firms. In doing so, the Committee will consider the quality and efficiency of the services provided by the auditors, the auditors’ global capabilities, the auditors’ technical expertise and knowledge of the Company’s global operations and industry, and any other applicable factors as determined by the Committee

Committee sections covered:

* Independent auditors * Audit services * Permissible Non-Audit Services; Pre-Approval Policy * Review of Interim Financial Statements and Earnings Releases * Review of Annual Audited Financial Statements * Risk Oversight * Internal Controls, Disclosure Controls and Procedures * Complaint Procedures * Compliance Programs * Report for Inclusion in Proxy Statement * Hiring of Auditor Personnel * Charter * Annual Performance Evaluation * Investigative Authority.

Subsequent Events On December 20, 2002, the Company filed a lawsuit (The Coca-Cola Company v. Aqua-Chem, Inc., Civil Action No. 2002CV631-50) in the Superior Court of Fulton County, Georgia (the ‘‘Georgia Case’’), seeking a declaratory judgment that the Company has no obligation to its former subsidiary, Aqua-Chem, Inc., now known as Cleaver-Brooks, Inc. (‘‘Aqua-Chem’’), for any past, present or future liabilities or expenses in connection with