Accounting Reporting Criteria
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Accounting Reporting Criteria Paper
Companies, whether they are located within the United States or in a foreign country, have many accounting reporting criteria that they need to manage. Miller Brewing Company, the second largest brewing company in the United States, and Heineken International Brewing Company, the largest brewing company in Europe, both manage the different accounting reporting criteria that is needed to continue their success in the beer brewing industries. Analyzed below is how these two companies manage their regulatory environment, issues with foreign currency, and the differences in GAAP in there own country and internationally.
Regulatory environment consists of laws and regulations that have been develop by federal, state, and local governments in order to exert control over business practices. (Kimmel, 2007). The FDA (Food and Drug Administration) ensures the safety of American Food Supply whether imported or made in the USA. (US Department of Health and Human Services website) Both companies must comply with the FDA’s regulations in order to sell beer in the United States. Anther concern for both companies is the conservation of the water supply. North Carolina’s American Water Works Association and the North Carolina water environment Association is a regulatory environment that the Miller Company is working with on a continuing bases. The goal of this organization is to provide water and wastewater education, training, and service in an effort to protect public health and the environment. (NCDAFEWater.org). Amsterdam has a similar organization that is dedicated to conserving of the Amsterdam’s water supply. Heineken recently develop an EchoSafe system to monitor the usage of there water. (Heineken.org)
The currency of Germany is the Deutsche Mark, which prior to the Euro was the dominant currency in Europe and the standard bearer in other words the anchor. Due to Germany’s stable domestic price level and no capital...
Companies, whether they are located within the United States or in a foreign country, have many accounting reporting criteria that they need to manage. Miller Brewing Company, the second largest brewing company in the United States, and Heineken International Brewing Company, the largest brewing company in Europe, both manage the different accounting reporting criteria that is needed to continue their success in the beer brewing industries. Analyzed below is how these two companies manage their regulatory environment, issues with foreign currency, and the differences in GAAP in there own country and internationally.
Regulatory environment consists of laws and regulations that have been develop by federal, state, and local governments in order to exert control over business practices. (Kimmel, 2007). The FDA (Food and Drug Administration) ensures the safety of American Food Supply whether imported or made in the USA. (US Department of Health and Human Services website) Both companies must comply with the FDA’s regulations in order to sell beer in the United States. Anther concern for both companies is the conservation of the water supply. North Carolina’s American Water Works Association and the North Carolina water environment Association is a regulatory environment that the Miller Company is working with on a continuing bases. The goal of this organization is to provide water and wastewater education, training, and service in an effort to protect public health and the environment. (NCDAFEWater.org). Amsterdam has a similar organization that is dedicated to conserving of the Amsterdam’s water supply. Heineken recently develop an EchoSafe system to monitor the usage of there water. (Heineken.org)
The currency of Germany is the Deutsche Mark, which prior to the Euro was the dominant currency in Europe and the standard bearer in other words the anchor. Due to Germany’s stable domestic price level and no capital...