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Swot Analysis Lotus Bakeries

1794 Words8 Pages

Lotus Bakeries is a Belgian company with his headquarters located in Lembeke (Belgium). They are active in the food industry with three kinds of products; galettes and waffles, pastries and cake and caramelized biscuits. Lotus Bakeries is an internationally oriented company with production sites all over the world. The company’s products are mainly sold in the Benelux, France, the United Kingdom, Austria, and Asia. As described in Regulation (EC) 1606/2002 all listed EU companies are required to prepare their consolidated financial statements in compliance with the IFRS since 1 January 2005, Lotus Bakeries listed as a Belgian company has to make a consolidated financial statement. The shares of Lotus Bakeries are listed on Euronext Brussels. …show more content…

All four main statements are presented separately. Lotus Bakeries gives one single statement of comprehensive income, with comprehensive income and other comprehensive income presented in two sections. Costs in the income statement are presented by nature. We can clearly see that each type of expense is accounted for, for example; raw materials, consumables and goods for resale, personnel costs, depreciation and amortization costs and other operating income and charges. Lotus Bakeries also provides us with notes. The notes are composed out of information about the specific policies that are used in the consolidated financial statement, measurements used in preparing the financial statement (Lotus Bakeries present its consolidated financial statement on the basis of the historical cost price method, with the exception of the evaluation at fair value of financial derivatives and financial assets available for sale..).They also disclose some information required by IFRS that is not presented elsewhere in the financial statement. But is necessary for understanding the financial …show more content…

The provisions for restructuring are recorded when a formally and detailed restructuring plan is approved by the group. The provisions for integration and restructuring in 2013 are related to the costs that are associated with production optimizations and further investments in the Koninklijke Peijnenburg plants. The provisions for the environment are mainly associated with the Netherlands, and the other provisions are related to the contractual and legal obligations of Lotus Bakeries to their employees and for research. In my opinion, the disclosures regarding provisions do not give sufficient information. They tell us that Lotus Bakeries provides three kinds of provisions; integration and restructuring provisions, environmental provisions and other provisions. They also tell us which provisions relate to which type in 2013. But the information about the environmental and other provisions are rather vague. IAS 19: Employee

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