The financial statements of adidas (DEU) and Puma (DEU) are presented in Appendices B and C, respectively. The complete annual reports, including the notes to the financial statements, are available online.

Instructions

Use the companies' financial information to answer the following questions.

a. 1. What specific items does adidas discuss in its Note 2-Significant Consolidation, Accounting, and Valuation Principles? (Prepare a list of the headings only.)

2. What specific items does adidas discuss in its Note 2-Our Summary of Significant Accounting Policies? (Prepare a list of the headings only.)

b. For what lines of business or segments do adidas and Puma present segmented information?

c. Note and comment on the similarities and differences between the auditors' reports submitted by the independent auditors of adidas and Puma for the year 2015.