The two companies selected and approved by the professor for the project. The annual reports should be the most recent, 2015 or 2016.The project is a critique of the informativeness of a set of corporate annual reports (a U.S. GAAP company vs. anIFRS company in the same industry). You should evaluate the quality of theinformation provided by the company from the perspective of a potential investor. Inother words, you should discuss the strengths and weakness of accounting methodsin the annual report and disclosures in terms of whether they provide relevant andreliable information to investors. You should address at least THREE of the followingareas.
1. Bonds2. Lease3. Deferred Income Tax4. Pension5. Stock options/Warrants/Awards6. Dividends /stock dividends/property dividends/stock split7. EPS/dilutive EPS8. Accounting errors and changes9. Cash flow statement10. Financial statement presentations
You may compare:- Recognition and measurement (accounting methods) differences- Disclosure differences including• Differences in the financial statements included in annual reports• Differences in the format used to present financial statements 4• Differences in the level of detail provided in the financial statements• Terminology differencesFor the differences between the US GAAP and IFRS, the following resourcesmight be also helpful.
http://www.pwc.com/us/en/cfodirect/assets/pdf/accounting-guides/pwc-ifrsus-gaap-similarities-and-differences-2015.pdfb. https://assets.kpmg.com/content/dam/kpmg/pdf/2015/12/US-GAAPcomparison-2015-overview.pdfc. http://www.iasplus.com/en-us/standards/ifrs-usgaapd. http://www.ey.com/Publication/vwLUAssetsAL/IFRSBasics_BB3119_22December2015/$FILE/IFRSBasics_BB3119_22December2015.pdf (Registrationmay be required)e. Lease Accounting: http://www.ifrs.org/Current-Projects/IASBProjects/Leases/Documents/IFRS_16_effects_analysis.pdfI don’t care which position (either IFRS or US GAAP) you take, but you should beable to defend your position by discussing the strengths and weakness of eachposition (e.g., each accounting rule and disclosure practice) and then defending yourstance. Some background on the companies and the GAAP of the home country mayalso be included in your paper.
The links are not working. Unfortunately, I am unable to do something about if since they are provided by professor. You just need two annual reports for each of the companies. Since both are publicly traded companies the annual statements are online. You can simple find them by searching online. Thanks. Let me know if you have questions.
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