MBA_503_Milestone_3_11_4_2020.docx Starbucks Corporation: A Financial Analysis Southe

MBA_503_Milestone_3_11_4_2020.docx    Starbuck™s Corporation: A Financial Analysis  Southern New Hampshire University  MBA  503 Financial Accounting and Analysis  Every business and corporation must adhere to the rules of financial reporting for the industry they do business in.  These rules are defined and categorized under the General Rules of Administrative Accounting, or GAAP.  In the case of Starbuck™s Corporation, they have various rules, polices and regulations that must be followed to meet all state and federal guidelines and legally manage the business.  Starbuck™s prepares all financial statements in accordance with the financial principles in the United States under GAAP (sec.gov).  The main components of internal control systems according to Harrison et al(2015) are controlenvironment, risk assessment, information system, control procedures, and monitoring ofcontrols.  To be in conformity with the Securities Exchange Commission (SEC), Starbuck™s Corp utilizes a variety of internal policies and procedures to safeguard and report on its funds.  In the 2019 Annual Report Starbuck™sindicates that their internal controls and procedures are in line with the Securities Exchange act of 1934 and is reported within the timelines and criteria in the SEC (Starbuck™s). With Starbuck™s being a publicly traded company, it is crucial for them to follow all the required regulations.  Starbuck™s internally maintains control of its own reporting via an Audit and Compliance Committee.  This committee was created to ove