Company Background The Australian pizza industry is among the most competitive in the world, dominated by the market leader, Domino's Pizza Enterprises Limited (Ibisworld 2013). Today, the publicly traded company is Australia's largest low-cost pizza chain, operating four hundred and ten retail food outlets, employing over 21,000 staff across Australia (Ibisworld 2013). The company currently provides customers with pizza meal pickup and delivery options by offering customers traditional ordering methods such as phone calls and in-store visits, as well as a digital ordering service via online mobile applications and a desktop website. Primarily, these are two The main activities that differentiate Domino's Pizza from other close competitors in the fast food pizza industry are continuous digital innovation and constant product differentiation. Specifically, it is the multimedia digital innovation resulting from providing the market with the first online pizza ordering system along with several social media platforms and the company's focus on product differentiation by offering healthy menu options paired with quality ingredients superior that keep the company one step ahead of its closest competitors. By introducing such innovations over the past two years, Domino's has been able to build a solid foundation for business growth and development. In particular, 2013 saw Domino's Pizza experience a significant shift in business operations with the pizza business growing to become "an online digital business selling pizza where they are best in class for digital sales, marketing and execution" (DPE 2013, p. 06).2.0 ComplianceWhen preparing financial reports, it is important that organizations are… at the heart of the paper… cash flows. The purpose of each statement is discussed in detail below. Consolidated Statement of Income and Other Comprehensive Income: - The purpose of this statement is to present the total earnings of the group as a single entity without dividing the profits attributable to non-controlling shareholders and owners of the parent company. The revenues, expenses and taxation of all companies included in the group are consolidated as a single entity regardless of the ownership of the parent companies in the subsidiaries, in order to provide the results of the group as a whole. Similarly, the entity concept is applied to consolidate all components of other comprehensive income that cannot be included in the income statement section. Consolidated comprehensive income is particularly useful in understanding changes in the fair value of the company's assets.