Access the financial statements from the most recent annual report of a foreign and domestic company with which you are familiar to complete this assignment. Then, address the following:
- Determine the generally accepted accounting principles (GAAP) the foreign and domestic companies use to prepare financial statements.
- Determine whether the foreign or domestic companies provide a set of financial statements that include the same components.
- List five format differences in the companies’ income statements.
- List five format differences in the company’s balance sheets.
- Note any terminology differences that exist between the two companies’ income statements and balance sheets.
- Assess whether the scope and content of the information provided in the notes to the financial statements is similar to the two companies.
- Compare the overall presentation of the financial statements and notes to the financial statements between the two companies.
0 comments