Stock of Credit Suisse Group trades on the New York Stock Exchange as well as in various European stock markets. The company’s Form 20-F reported the following.

The accompanying consolidated financial statements of Credit Suisse Group AG (the Group) are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). The financial year for the Group ends on December 31. On October 21, 2015, the Group announced its new strategy and organization, which included the introduction of a new segment structure. In connection with the strategic review of the Group, restructuring expenses of CHF 355 million were recognized in 2015. Reclassifications have been made to the prior year’s consolidated financial statements to conform to the current presentation. The reclassifications had no impact on net income/(loss) or total shareholders’ equity.

Required

a. Why would Credit Suisse prepare its financial statements in accordance with U.S. GAAP?

b. Credit Suisse separately reported the CHF 355 million restructuring expense. Explain how this reporting could help analysts who seek to predict future earnings.