The foreign company used is Honda and the domestic company being used is Ford.

2. Referring to their most recent annual reports, access the inancial statements of a for- eign company and a domestic company with which you are familiar to complete this assignment. Required: a. Determine the GAAP the foreign and domestic companies use to prepare financial statements. b. Determine whether the financial statements provided by the foreign and domestic companies include the same components (e.g., consolidated balance sheet, consoli- dated income statement, consolidated cash flows statement, and so on). c. List any format differences (up to five) in the companies' income statements. d. List any format differences (up to five) in the companies' balance sheets e. Note any terminology differences (up to five) that exist between the two companies income statements and balance sheets. vided in the notes to the financial statements is similar between the two companies. cial statements compare. f. In very general terms, assess whether the scope and content of the information pro- g. Provide your overall impression (no detail) of how the two companies' sets of finan- 2. Referring to their most recent annual reports, access the inancial statements of a for- eign company and a domestic company with which you are familiar to complete this assignment. Required: a. Determine the GAAP the foreign and domestic companies use to prepare financial statements. b. Determine whether the financial statements provided by the foreign and domestic companies include the same components (e.g., consolidated balance sheet, consoli- dated income statement, consolidated cash flows statement, and so on). c. List any format differences (up to five) in the companies' income statements. d. List any format differences (up to five) in the companies' balance sheets e. Note any terminology differences (up to five) that exist between the two companies income statements and balance sheets. vided in the notes to the financial statements is similar between the two companies. cial statements compare. f. In very general terms, assess whether the scope and content of the information pro- g. Provide your overall impression (no detail) of how the two companies' sets of finan