Access the financial statements from the most current annual report of a foreign company and a domestic company with which you are familiar to do this assignment.
Required:
a. Evaluate the accounting principles (GAAP) the foreign and domestic companies use to prepare financial statements.
b. Verify whether the foreign and domestic companies provide a set of financial statements that adds the same components (e.g., consolidated balance sheet, consolidated income statement, consolidated cash flows statement).
c. List 5 format differences in companies' income statements.