Wordlwide Accoutning Diversity and International Standrds

Jun 27th, 2015
Business Finance
Price: $30 USD

Question description

Accounting:Worldwide Accounting Diversity and International Standard

Reconciliation of IFRS to U.S. GAAP

Unless they use IFRS, foreign companies with securities listed in the United Sates (in the form of ADRs) are required to reconcile their net income and stockholders’equity to U.S. GAAP in the annual report (Form 20-F) they file with the Securities and Exchange Commission (SEC). List of foreign SEC registrants are available on the internet at www.adrbnymellon.com; click on DR Directory & Profiles. Annual reports of foreign SEC registrants may be accessed through the SEC’s EDGAR system at www.sec.gov (under Filing Type, search for 20-F). However, not all foreign registrants file their reports with the SEC electronically. Many non U.S. companies make annual reports available on their corporate Internet home page. Access a recent annual report (Form 20-F) for a foreign company listed on the New York Stock Exchange that does not use IFRS to complete the following requirements.


a.  Determine the nationality of the company selected and the accounting rules and regulations it used (company GAAP) to prepare its financial statements.

b.  Summarize the major differences in measuring net income between company GAAP and U.S. GAAP.

c.  Compare the company’s profitability using company GAAP and U.S. GAAP

Tutor Answer

(Top Tutor) Mercy K
School: Purdue University

Studypool has helped 1,244,100 students

Review from student
" Excellent job "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1821 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors