Infosys is an Indian IT and consulting company with operations around the globe. The company "defines, designs and delivers technology-enabled business solutions" that help companies around the world. Infosys' balance sheet for 2008, prepared according to Indian GAAP, is shown below.

1. Can you identify any major differences between Wal-Mart's and Infosys' balance sheets in terms of the major categories displayed?
2. What is Infosys' total assets? Is it as easy to determine as Wal-Mart's total assets?
3. Take a look at the following list of accounts and identify, given your knowledge of assets, liabilities, and owners' equity, what the American equivalent of those accounts might be (you might want to reference Wal-Mart's balance sheet for comparison):
• Provisions
• Sundry debtors
• Reserves andsurplus

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Infosys Balance Sheet March 31, 2008 in Rupees crore) Sources of Funds Shareholders' Funds Share capital Reserves and surplus 286 13,490 Application of Funds Fixed Assets Original cost Less: Depreciation and amortization Net book value Add: Capital work-in-progress. 4,508 1837 2,671 3,931 Investments Deferred Tax Assets Current Assets, Loans and Advances Sundry debtors Cash and bank balances.. Loans and advances 3,093 6,429 12,227 1,483 Less: Current liabilities.. Net Current Assets. 13,490 1 rupee crore 10 million rupees