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BASIS OF PRESENTATION
9 Months Ended
Sep. 30, 2011
BASIS OF PRESENTATION 
BASIS OF PRESENTATION

 

 

1.                                      BASIS OF PRESENTATION

 

The accompanying unaudited condensed consolidated financial statements of Bunge Limited and its subsidiaries (Bunge) have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Exchange Act of 1934, as amended (Exchange Act).  Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to Securities and Exchange Commission (SEC) rules. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included.  The condensed consolidated balance sheet at December 31, 2010 has been derived from Bunge’s audited consolidated financial statements at that date.  Operating results for the three and nine months ended September 30, 2011 are not necessarily indicative of the results to be expected for the year ending December 31, 2011.  The financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2010, forming part of Bunge’s 2010 Annual Report on Form 10-K filed with the SEC on March 1, 2011.

 

On July 1, 2011, Bunge modified its application of the presentation and disclosure provisions of ASC No. 220, Comprehensive Income. As allowed under this standard, Bunge elected in this quarterly report on Form 10-Q to present a separate statement of comprehensive income for all periods presented. The prior period statement of changes in equity has been modified to conform to this current period presentation.