The Warehouse Group And The Salvation Army And Waikato Tainui

The Warehouse Group does not do enough charity and community work compared to the Salvation Army and Waikato-Tainui. In 2013 The Warehouse Group only fund raised $3,035,265 for the local community. This number may look high but if we compare that with the net profit in 2013, which was $145,328,000. This means that they are only giving 2.09% of their profit back into the community. This simply is not enough and needs to increase. Objectives The External Reporting Board (XRB) define a not for profit entity to be reporting business which their main goal is to provide goods or services for the public benefit rather than an business that operates for profit (XRB, 2015). According to the XRB definition The Warehouse group is a for profit organization. Day-to-day business, they are trying to maximise profit. The slogan for The Warehouse is â€Å"where everyone gets a bargain†. The Warehouse group includes 4 different businesses. The Warehouse would be classed as a business that operates for profit (The Warehouse Group, 2013). The Salvation Army is an organization that operates not for profit. Their main objective is to give back to the community by supplying beds, holding life skill programs, having community meals and many more services to help the local community (The Salvation Army, 2013). The Salvation Army is trying to minimize poverty, suffering and depression and therefore would be classed as a public benefit entity. Waikato-Tainui tries to develop iwi products and help withShow MoreRelatedAn Organisation Organization Essay1806 Words   |  8 Pagesrequired to be completed annually. This report will analyse three contrasting types of entities, in addition to the differences in the annual reports produced. From a not-for profit charity, The Salvation Army, to a large New Zealand business, The Warehouse Group and a Maori land trust, Waikato-Tainui. Users of the information The objective of accounting reports are to provide external and internal users the information that enables them to make improved finanical decisions. Therefore the users