Q:
The following are the main criteria for this assignment:
To have a better appreciation of the differences between U.S. foreign corporate financial statements and corporate financial statements, complete the following:
Select the annual report of a foreign company that you have an interest in.
Check the differences between the foreign corporation's financial statements and a typical U.S. corporate financial statement.
Check at least 5 differences found in the balance sheet.
Check at least 5 differences found in the income statement.
Review the notes to the consolidated financial statements of the foreign corporation.
Note any differences in the information given by the foreign corporation versus that typically provided by a U.S. corporation.
Check 5 major classifications of accounting models that are used in different geographic regions. Are these classifications consistent with U.S. GAAP. Why or why not?