Question
(a) What is the meaning of subsidiaries and why do the financial statements include the results of its subsidiaries? Explain using the most appropriate accounting
(a) What is the meaning of "subsidiaries" and why do the financial statements include the results of its subsidiaries? Explain using the most appropriate accounting assumption or principle.
(b) State the name of the accounting firm which acted as Samsung's external or independent auditors. What sort of audit opinion did Samsung receive? (Refer to Samsung SFP: images.samsung.com/is/content/samsung/p5/global/ir/docs/2018_con_quarter04_all.pdf)
(c) Explain what this audit opinion means to potential investors wishing to invest in Samsung's shares.
Referring to Samsung SFP: images.samsung.com/is/content/samsung/p5/global/ir/docs/2018_con_quarter04_all.pdf
(d) Identify two items or accounts which will most likely have current market or fair values that differ significantly from the carrying amounts or book values.
(e) What general accounting principles or assumptions give rise to these differences? Explain.
Please provide the reference links (if any) if possible. Thank you so much!
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