Solution-Determine the accounting principles gaap

Determine the accounting principles gaap

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Reference no: EM133004197

Question - Using their most recent annual reports, access the financial statements of two foreign companies located in the same country.

Required -

a. Determine the accounting principles GAAP the foreign and domestic companies use to prepare financial statements.

b. Determine whether the foreign and domestic provide a set of financial statements that includes the same components (e.g., consolidated balance sheet, consolidated income statements, consolidated cash flow statement.)

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.

f. Assess whether the scope and content of the information's provided in the notes to the financial statements is similar between the two companies.

g. Compare the overall presentation of the financial statements and notes to the financial statements between the two companies.

Reference no: EM133004197

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Determine the accounting principles gaap

Reference no: EM133004197

Reference no: EM133004197

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