Problem:
Go to General Mills and Meiji Holdings Co., Ltd. website, review the most recent financial statements for the company, and then answer the following questions.
What accounting standards are used?
What auditing standards are used by the external auditors?
Analyze and comment on the differences in the annual statements found on the companies' websites. Provide a few specific differences in content and format.
Explain and illustrate the difference between an annual report, a 10-K, and a Corporate Social Responsibility Report. Comment on the type of reports issued by both companies.
How comparable are these financial statements?