Go to each company's 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?
- Prepare a table for a period of three years showing some key financial information for the two companies. Include at least four items from the balance sheet, four items from the income statement, and four items from the statement of cash flow. Having reviewed and analyzed the financial information, please elaborate on the following three questions:
- Which one of the two companies is the most profitable?