The Hershey Company Fiscal Year End

The Hershey Company’s fiscal year-end is December 31st. This means that their financial reporting and accounting periods align with the calendar year.

Audit Firm for 10-K Report

As of my last knowledge update in September 2021, the audit firm responsible for issuing The Hershey Company’s financial statements in their 10-K report was PricewaterhouseCoopers LLP (PwC). However, please verify if this information has changed, as companies may change their audit firms over time.

Scale of Financial Statement Figures

Financial statements are typically presented in thousands or millions of dollars. The choice of scale is made for clarity and ease of understanding for investors and stakeholders. For larger companies like The Hershey Company, presenting figures in millions is common because it simplifies the numbers and makes them more manageable to read.

Reason for Using a Scale

Using a scale in financial statements streamlines the presentation of financial information. It allows for easier comparison of financial data over different reporting periods, facilitates trend analysis, and makes it more convenient for investors and analysts to work with the numbers.

Revenue Recognition Policy

The Hershey Company, like other publicly traded companies, follows Generally Accepted Accounting Principles (GAAP) in the United States for revenue recognition. Revenue recognition policies can vary depending on the type of products or services a company provides. The company would recognize revenue when it is realized or realizable and earned. This typically occurs when goods are shipped or services are rendered, and collectibility is reasonably assured.

Reporting Unearned Revenue

Companies often report unearned revenue as a liability on their balance sheet. Unearned revenue represents advance payments received from customers for goods or services that have not yet been delivered or earned. It’s a common practice for companies that offer subscription-based services, pre-orders, or long-term contracts.

Unearned Revenue Example: For The Hershey Company, an example of unearned revenue might be related to advance payments for bulk chocolate orders from retail partners. If a retailer places a large order for chocolates to be delivered in the future, the payment received in advance would be classified as unearned revenue until the chocolates are delivered. At that point, the revenue would be recognized as the chocolates are earned.

Access to 10-K Report

I’m unable to provide PDF attachments, including a copy of The Hershey Company’s 10-K report. However, you can easily access this report and other financial information on The Hershey Company’s official website or through the U.S. Securities and Exchange Commission’s EDGAR database, where public companies are required to file their financial reports. Simply visit the company’s investor relations page or the EDGAR website for the most recent 10-K report.

Please note that the information provided here is based on my last update in September 2021, and I recommend verifying the current details directly from authoritative sources for the most accurate and up-to-date information.