Financial Accounting Case Study Case Study

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Financial Accounting Case Study

Industry Attributes

Despite its large size and established market position, General Mills, like any other company, has to grapple with those factors that, if not properly addressed, could have a negative effect on performance. Market demand is one of those factors. In order to effectively address the issue of demand, the company has to determine and respond to two major demand-related issues. First, there is need to understand the factors influencing demand. These include the prices of products, the availability and prices of substitutes produced by competitors, and government regulation - especially with regard to the promotion of healthy foods. Secondly, there is need to analyze the outlook of this demand in the near future. General Mills offers for sale a wide range of food items such as snacks. The demand of these could fall significantly in future, mainly due to the government's effort to ensure a healthier nation by discouraging the consumption of the same, and promoting foods that are considered healthier. The company could use this kind of knowledge to seek out alternatives such as increasing their production of 'healthy' foods.

General Mills is a major player in the cereal industry, not only in the U.S., but in the world over.

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It controls a significant share of the market, and is only second to Kellogg in the U.S. (Hoovers, 2013). General Mills also operates in one of the most dynamic industries. Each company in the industry strives to increase its market share. This manly entails introducing new products, or incorporating new and healthier components such as whole grains into existing products, in line with consumer trends (General Mills, 2013). New or improved products are, therefore, a common phenomenon in the cereal-making industry. General Mills, for instance, introduced a range of new items this year, including Yoplait Greek Yoghurt, Medley Crunch cereal, Nature Valley protein bars, to mention but a few (General Mills, 2013).

Asset Management

From the look of things, General Mills is a capital intensive company. This is particularly the case given that its long-lived assets constitute 81% of its total assets. It is important to note that between the financial years 2012 and 2013, the long-lived assets figure increased from $17,405 million to $18,360 million respectively. More specifically, the value of land, buildings, and equipment increased from $3,691 million in 2012 to $3,878 million in 2013. This is in itself an indicator….....

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