List any format differences in the companies balance sheet

Reference no: EM132749636

Question: Select a foreign company and a U.S domestic company and share your comparison of their financial statements. Use Calcbench or other public resources to access the financial statements of a foreign company and a domestic company.

Choose large name-brand companies or smaller less-known companies, but remember they should be publicly traded so their financial statements are publicly available. Also choose companies in the same industry, so their financials are more comparable.

Write one or two sentence answers to each of the following questions.

1. Determine the accounting set of rules (GAAP) the foreign and domestic companies use to prepare financial statements.

2. Determine whether the financial statements provided by the foreign and domestic companies include the same components (e.g., consolidated balance sheet, consolidated income statement, consolidated cash flows statement, and so on).

3. List any format differences (up to five) in the companies' income statements.

4. List any format differences (up to five) in the companies' balance sheets.

5. Note any terminology differences (up to five) that exist between the two companies' income statements and balance sheets.

6. In very general terms, assess whether the scope and content of the information provided in the notes to the financial statements is similar between the two companies.

7. Provide overall impression (no detail) of how the two companies' sets of financial statements compare.

Reference no: EM132749636

Questions Cloud

Better anticipate future threats : Explain how you would reduce potential vulnerabilities, protect against intrusion attempts, and better anticipate future threats.

Explain the leadreship of principle : How was the instructional leadership of headmasters in primary schools? Explain the leadreship of principle.

Information risk planning and management : One of the eight (8) Information Risk Planning and Management step is to develop metrics and measure results.

What key points in the article support statements : What is the impact when organizations do not act socially responsible?

List any format differences in the companies balance sheet : Select a foreign company and a U.S domestic company and share your comparison of their financial statements. Use Calcbench or other public resources to access.

Explain how you would reduce potential vulnerabilities : Explain how you would reduce potential vulnerabilities, protect against intrusion attempts, and better anticipate future threats.

What audit objectives relate to the case : Your client Corp A is a company engaged in the production of heavy equipment and markets its products on a business to business (B2B) basis. Goods produced by.

Benefits of enterprise resource planning : Discuss the benefits of enterprise resource planning (ERP).

Journalize the issuance of the common and preferred shares : Bridgeport Corporation began operations on April 1 by issuing 51,500 shares of $5 par value common stock for cash at $13 per share. On April 19, it issued.

User Account

All Pages