Gulf Pharmaceutical Industries (JULPHAR) Essay Example | Topics and Well Written Essays - 2000 words

Gulf Pharmaceutical Industries (JULPHAR) - Essay ExampleMore than 800 products of the company are in the social disease forms, and few are yet to enter the market. The company employs more than 2800 employees around the world (Kapur, 2014). Turnover account by the company at the end of 2013 was AED 1.36 Billion.The company reported various growth strategies in 2013. It performed a GCC wide review of its functions and operations. The new scientific office was launched across GCC under the new director. Additionally, the company launched its showtime manufacturing facility in Ethiopia at Addis Ababa (Julphar Extends its Global Footprint, 2015). This facility is a major part of the companys international expansion objective and a milestone in its history (About Julphar, 2015).The objective of IAS 1 is to entrust the organizations with the basis for presentation of general- aim monetary statements. It is to ensure the comparability of the financial statements of the previous periods and the financial statements of the new(prenominal) entities. IAS 1 is applicable to general-purpose financial statements that are prepared in accordance with the international pecuniary Reporting Standards.General-purpose financial statements are prepared in order to provide information to the highest degree the financial performance, financial position and cash flow of the entity that is useful to a wide range of users for the purpose of making economic decisions (IAS 1, 2015). To fulfil the objective, financial statements provide the information about an entitysIAS 1 states that financial statements must present fairly the financial position, financial performance and cash position of the entity. This means that the entity should dependably represent the effects of the transactions, events and condition in accordance with the criteria of assets, liabilities, income and expenses as mentioned in the framework.Going Concern the abstract framework requires the financial