FINANCIAL ACCOUNTING

Jun 21st, 2015
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Southeast Missouri State University
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Accounting is an information system that selects data, processes that data and produces information about an economic entity.

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FINANCIAL ACCOUNTING1.0INTRODUCTION (RUBRICS 1)1.0Objective of the paper and introduction to the selected companyAccounting is an information system that selects data, processes that data and produces information about an economic entity (Kolitz, Quinn and McAllister, 2009, p. 86). The end result i.e. the accounting information is intended to be used by users which can be divided into internal and external users. The definition of internal and external users will be elaborated further in this paper in the paragraph below. The objective of this paper is to identify and analyse the characteristics or qualities of accounting information for the internal and external users of a public listed company. For this purpose, the paper has selected the financial information as found in the annual report of Nestle (M) Bhd, a company listed in the main board of Bursa Malaysia Berhad under the consumer products sector with 4707 as its stock code identifier (Bursa Malaysia, 2012). Nestle (M) Bhd (hereinafter Nestle), is involved in the manufacturing of consumer food products which is sold under several household names e.g. Milo, Nescafe, and Maggi. This paper will analyse the latest available annual report of Nestle (M) Bhd i.e. for financial year 2011 which can be downloaded from Bursa Malaysia website.Nestles history in Malaysia can be traced back to more than 100 years ago with the establishment of the Anglo-Swiss Condensed Milk Company in Penang which later moved to Kuala

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