coca cola vs pepisco report
Coca-Cola versus PepsiCo, Inc.
This report will explain the current effects of IFRS on the pension reporting for Coca Cola and PepsiCo at 2009 year-end, the funding levels and capital gains experienced by Coca Cola and PepsiCo in their respective pension funds. Also, I will evaluate which of the two companies had a more secure pension fund and how the status of the pension fund effect’s the level of risk that must be reported in the annual report.
International Reporting Standards (IFRS) are standards that are aimed as a global language that is common for affairs of business, to make sure that the accounts of the company can be understood and are of a certain standard that applies worldwide. IFRS are important to companies that function in many countries. IFRS have been perceived to replace many and different international standards of accounting in a progressive manner. IFRS synchronizes accounting across the European Union, other than the synchronization value making the concept attractive all over the world. They are however still on the subject of using their original name, International Accounting Standards (IAS).
IAS was rolled out between the year 1973 and 2001, by the International Accounting Standards Committee (IASC) Board. On April 1, 2001, a new International Accounting Standards Board took hold of the responsibility of coming up with an International Accounting Standards from the IASC. It was in the first meeting that the new Board took up the IAS that existed as well as Standing Interpretations Committee standards (SICs). ISAB has frequently rolled out new standards known as International Financial Reporting Standards (IFRS)
According to a report by the Coca-Cola Company, the company rolled out an IFRS adoption strategy, in line with the International Accounting Standards Board. This implementation did not however come without some impacts. These included
Operating systems – nonmonetary assets adaptations module
This report will explain the current effects of IFRS on the pension reporting for Coca Cola and PepsiCo at 2009 year-end, the funding levels and capital gains experienced by Coca Cola and PepsiCo in their respective pension funds. Also, I will evaluate which of the two companies had a more secure pension fund and how the status of the pension fund effect’s the level of risk that must be reported in the annual report.
International Reporting Standards (IFRS) are standards that are aimed as a global language that is common for affairs of business, to make sure that the accounts of the company can be understood and are of a certain standard that applies worldwide. IFRS are important to companies that function in many countries. IFRS have been perceived to replace many and different international standards of accounting in a progressive manner. IFRS synchronizes accounting across the European Union, other than the synchronization value making the concept attractive all over the world. They are however still on the subject of using their original name, International Accounting Standards (IAS).
IAS was rolled out between the year 1973 and 2001, by the International Accounting Standards Committee (IASC) Board. On April 1, 2001, a new International Accounting Standards Board took hold of the responsibility of coming up with an International Accounting Standards from the IASC. It was in the first meeting that the new Board took up the IAS that existed as well as Standing Interpretations Committee standards (SICs). ISAB has frequently rolled out new standards known as International Financial Reporting Standards (IFRS)
According to a report by the Coca-Cola Company, the company rolled out an IFRS adoption strategy, in line with the International Accounting Standards Board. This implementation did not however come without some impacts. These included
Operating systems – nonmonetary assets adaptations module
References: Castro, J, García, G., & Karig R. (2011). Coca-Cola FEMSA announces its IFRS implementation plan Mexico City. Coca-Cola. Retrieved from http://www.coca-eb/arquivos/kof20110630_6k.pdffrom Peek, J., A. Reuss and G. Scheuenstuhl. (2008), Evaluating the Impact of Risk Based Funding Requirements on Pension Funds. OECD Publishing. Retrieved from http://www.oecd.org/finance/private-pensions/40764487.pdf PepsiCo. (2008). Annual Report. PepsiCo, Inc.