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Auditing- report of the real good food - Assignment Example

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Traditionally, the financial statement comprises four accounts. That is, the income statements, the statement of financial position, the statement of cash flow and the…
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Auditing- report of the real good food
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Download file to see previous pages Real Good Food PLC is a heavily diversified company that manufactures and distributes a variety of products like sugar, baking ingredients, dairy products, jam and sweet bakery products (Real Good Food PLC 2015). As it stands, the company owns the largest sugar distribution network in the United Kingdom. Real Good Food plc participates in various market sectors such as the wholesale, retail, manufacturing, food service and export. The company’s production and distribution activities are operated under six business divisions (Napier Brown, Real Good Food Europe, Renshaw, Garrett Ingredients, R&W Scott and Hayden Bakery) that supplies products to a greater part of the Eurozone (Annual Report: Real Good Food PLC 2014, pp. 1-3).
The consumption of sugar worldwide has increased by more than 20% in the last ten years translating to an increase from around 140 million tonnes to 170 million tonnes currently consumed on an annual basis. The Eurozone consumption statistics show consumption rate of 16.5 million tonnes. The increase in sugar consumption rate presents a growth opportunity for Real Good Food PLC. However, it is feared that some major political factors may create a favourable situation for the exploitation of the opportunity. The whole world is getting sensitized to the health effects of sugar. Most nations, specifically in the west, seek to implement trade policies and health regulations that will set the standard of sugar contents in the manufactured products (Annual Report: Real Good Food PLC 2014, pp. 10).
In addition, the production is affected by adverse weather conditions that have seen the global sugar production rate reduce. The prices of sugar are on the rise due to the reduction in the supply but increased demand. The economic performance, as measured by the market capitalization, of the sugar producing companies has declined due to the decrease in the stock prices. Fortunately, the ...Download file to see next pagesRead More
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