The Hershey Project
THE HERSHEY COMPANY ANALYSIS
Pursuant to Securities Exchange Act of 1934
Form 10-K & Schedule 14A Proxy Statement
BUS 500A Accounting Fundamentals
Professor Dennis Kyte
February 19, 2012
Olabisi Carr
I. Background Information
Name of the Company: The Hershey Company. See SEC Form 10K, front page 0. Hereinafter. “Hershey.” or the “Company.” See Proxy Statement, page 2.
Fiscal year covered by the annual report: Fiscal year 2009. See SEC Form 10K, front page 0.
Stock Exchange where shares are traded and stock ticker symbol: New York Atock Exchange under ticker symbol HSY. See SEC Form 10K, page 16.
State of Incorporation: Delaware. See SEC Form 10K, page 1.
Describe the Company’s business(es), e.g. types of products manufactured: The Hershey Company sells quality chocolate and is the global leader in chocolate and sugar confectionery. Principal product groups include chocolate and confectionary products; snack products, gum and mint refreshment products; and pantry items, such as baking ingredients, toppings and beverages, See SEC Form 10K, page 1.
II. Management and Audit Report
Who are the Company’s Auditors? KMPG LLP. See Proxy Statement, page 35.
What opinion did the auditors issue? KMPG opinion says the consolidated financial statements referred to above present fairly, in all material respects, the financial position of The Hershey Company and subsidiaries as of December 31, 2009 and 2008 and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2009, in conformity with U.S. generally accepted accounting principles. See SEC Form 10K, page 52.
In addition KMPG opinion is that the Company maintained effective internal control over financial reporting as of December 31, 2009, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. See SEC Form
Pursuant to Securities Exchange Act of 1934
Form 10-K & Schedule 14A Proxy Statement
BUS 500A Accounting Fundamentals
Professor Dennis Kyte
February 19, 2012
Olabisi Carr
I. Background Information
Name of the Company: The Hershey Company. See SEC Form 10K, front page 0. Hereinafter. “Hershey.” or the “Company.” See Proxy Statement, page 2.
Fiscal year covered by the annual report: Fiscal year 2009. See SEC Form 10K, front page 0.
Stock Exchange where shares are traded and stock ticker symbol: New York Atock Exchange under ticker symbol HSY. See SEC Form 10K, page 16.
State of Incorporation: Delaware. See SEC Form 10K, page 1.
Describe the Company’s business(es), e.g. types of products manufactured: The Hershey Company sells quality chocolate and is the global leader in chocolate and sugar confectionery. Principal product groups include chocolate and confectionary products; snack products, gum and mint refreshment products; and pantry items, such as baking ingredients, toppings and beverages, See SEC Form 10K, page 1.
II. Management and Audit Report
Who are the Company’s Auditors? KMPG LLP. See Proxy Statement, page 35.
What opinion did the auditors issue? KMPG opinion says the consolidated financial statements referred to above present fairly, in all material respects, the financial position of The Hershey Company and subsidiaries as of December 31, 2009 and 2008 and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2009, in conformity with U.S. generally accepted accounting principles. See SEC Form 10K, page 52.
In addition KMPG opinion is that the Company maintained effective internal control over financial reporting as of December 31, 2009, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. See SEC Form