Mcdonalds Accounting Report
Contents INTRODUCTION 2 Brief History 3 McDonalds’ today 4 McDonalds’ Pakistan 5 DEPARMENTS 6 Operations (equipment and franchising) 6 Marketing (sales marketing) 7 Development (property and construction) 7 Finance (supply chain and new product development) 7 Information Technology 8 Purchasing 8 Training 8 What McDonalds’ do with its Profits? 8 Hierarchy of McDonalds’ 9 ACCOUNTING DEPARTMENT 10 Hierarchy of Accounting Department 11 How profit is measured in McDonalds’? 11 Financial Statements 12 INCOME STATEMENT 12 BALANCE SHEET 14 Statement of cash flows 16 Statement of owner 's equity 18 How inventory is handled w.r.t. Accounting 20 Bad Debts 20 Depreciation 20 Bank Reconciliation Statement 20 References 22
WELCOME
INTRODUCTION
Brief History
The business began in 1940, with a restaurant opened by brothers Richard and Maurice McDonald in San Bernardino, California. Their introduction of the "Speedee Service System" in 1948 established the principles of the modern fast-food restaurant. In 1954, Ray Kroc, a seller of Multimixer milkshake machines, learned that brothers Richard and Maurice (Dick and Mac) McDonald were using eight of his high-tech Multimixers in their San Bernardino, California, restaurant. His curiosity was piqued, and he went to San Bernardino to take a look at the McDonalds ' restaurant.
The McDonald Brothers had been in the restaurant business since 1937. In 1948, they closed down a successful carhop drive-in to establish the streamlined operation Ray Kroc saw in 1954. The menu was simple: hamburgers, cheeseburgers, french fries, shakes, soft drinks, and apple pie. The carhops were eliminated to make McDonald 's a self-serve operation. Mac and Dick McDonald had taken great care in setting up their kitchen like an assembly line, to ensure maximum efficiency.
Believing that the McDonald formula was a ticket to success, Kroc suggested that they franchise their restaurants throughout the
WELCOME
INTRODUCTION
Brief History
The business began in 1940, with a restaurant opened by brothers Richard and Maurice McDonald in San Bernardino, California. Their introduction of the "Speedee Service System" in 1948 established the principles of the modern fast-food restaurant. In 1954, Ray Kroc, a seller of Multimixer milkshake machines, learned that brothers Richard and Maurice (Dick and Mac) McDonald were using eight of his high-tech Multimixers in their San Bernardino, California, restaurant. His curiosity was piqued, and he went to San Bernardino to take a look at the McDonalds ' restaurant.
The McDonald Brothers had been in the restaurant business since 1937. In 1948, they closed down a successful carhop drive-in to establish the streamlined operation Ray Kroc saw in 1954. The menu was simple: hamburgers, cheeseburgers, french fries, shakes, soft drinks, and apple pie. The carhops were eliminated to make McDonald 's a self-serve operation. Mac and Dick McDonald had taken great care in setting up their kitchen like an assembly line, to ensure maximum efficiency.
Believing that the McDonald formula was a ticket to success, Kroc suggested that they franchise their restaurants throughout the
References: http://www.wikipedia.com/ http://www.mcdonalds.com/ http://images.google.com/