Question
Access the financial statements from the most recent annual reports of a foreign company and a domestic with which you are familiar to complete assignment.
Access the financial statements from the most recent annual reports of a foreign company and a domestic with which you are familiar to complete assignment. Required: a. Determine the accounting principles (GAAP) the foreign and domestic companies use to prepare financial statements. b. Determine whether the foreign and domestic companies provide a set of financial statements that includes the same components (e.g., consolidated balance sheet, consolidated income statements, and consolidated cash flows statements) c. List five format differences in the companies' income statements. d. List five format differences in the companies' balance sheets. e. Note any terminology differences that exist between the two companies' income statements and balance sheets.
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