Finance Mcdonalds

Topics: Investment, Finance, Balance sheet Pages: 6 (2146 words) Published: May 31, 2014
Finance at McDonald’s
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Finance

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at McDonald’s
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Finance

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Franchising
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Franchising
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Stock Control

Finance

Finance

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Although the realm of accounting and finance has often
been viewed as dull ‘bean counting’, in today’s modern and competitive business environment, the finance department
should be at the heart of any company, encompassing a
variety of functions that go beyond its traditional financial reporting role.

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it is still a priority for accountants to ensure
a company’s financial statutory accounts meet legal
requirements, dynamic companies such as McDonald’s have
shifted the focus of their accounting and finance function
to additionally include the evaluation of past performance
and appraisal of future opportunities, helping to ensure the company maximises its strategic capabilities.

Recruitment & Training McDonald’s Restaurants UK Limited, a wholly owned subsidiary of the U.S. parent company, opened its first UK
restaurant in Woolwich in 1974. There are now 1,200
restaurants operating in the UK which, despite representing
only 4% of the total number of McDonald’s restaurants
worldwide, contribute 7% of global profits, making the
UK a very important financial market for McDonald’s
shareholders.
McDonald’s understands the value of an integrated accounting and finance function, extending from the restaurant floor up to the board of directors. Each individual McDonald’s restaurant is structured as an independent business, with restaurant management responsible for its financial performance, supported by the centralised Accounting & Finance department. Training

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DEPARTMENT STRUCTURE & FUNCTION

McDonald’s Finance Department has two key areas of responsibility: financial reporting and management accounting. Although each of these functions has different priorities, working together ensures the best financial position for the company now and for the future. UK Accounting & Finance Departments

Vice President of
Finance

T ax &
T reasury

Executive
Reporting
& Real Estate
Accounting

Corporate Accounts

Payroll

Accounting
Centre

Commercial F inance

Company
Owned
Restaurants

Supporting Operations

Franchised
Restaurants

Finance at McDonald’s
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Finance

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Financial reporting looks at historical performance with the primary responsibility of the Corporate Accounts department
being the preparation of annual financial statements and
reporting McDonald’s monthly results to their parent company in the U.S. Several specific functions are in place in order to achieve these requirements:
Customer Services
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centralised accounting centre is responsible for
processing all accounts receivable and payable
transactions, banking income, managing working capital
and also for the...
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