Accounting Reporting for Financial Statements

Many non-U.S. companies make annual reports available on their corporate Internet home page. Access the financial statements from the most recent annual report for a foreign company with which you are familiar to complete this assignment. PLEASE USE AVON TYRES FROM THE UNITED KINGDOM Required a. Determine the set of accounting rules (GAAP) the company uses to prepare its financial statements. b. Determine whether the company provides a set of financial statements comparable to the set of financial statements provided by U.S. companies (consolidated balance sheet, consolidated income statement, consolidated cash flow statement). c. List major differences between the company’s income statement and the income statement of a typical U.S. corporation. d. List major differences between the company’s balance sheet and the balance sheet of a typical U.S. corporation. e. Determine whether the scope and content of the information provided in the notes to the financial statements are comparable to the information provided in the notes to the financial statements by a typical U.S. corporation. f. Evaluate the overall presentation of financial statements and notes to financial statements by the company in comparison with a typical U.S. corporation.

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