You are required to identify TWO (2) financial statements from the USA and Europe Listed Company from the same industry and answer the following questions:

1. Compare and contrast the financial statement of these two-business organization in term of accounting method and policies on the followings:

a) Revenue recognition

b) Fair value accounting

c) Investment

d) Depreciation

e) Derivate

2. Does the Financial Statements can be easily understood by the regular non-expert users, explain your answer using the qualitative characteristics of useful information.

3. As an investor, which of the two firms will you invest, and why? 4. What additional information that you think the Financial Statements should provide to assist the users in making better investment decision?