Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Cost Accounting Expert

The world of business has changed significantly over the last twenty years. Where once it was unique to operate internationally, it is now much more commonplace.  Many U.S. Companies are either moving overseas or moving operations overseas and many international companies are moving operations into the United States.

Select an industry, which you will analyze. Obtain the annual reports of four companies. The companies should be picked as follows:

Insurance Industry:

1) One company should be a foreign company (Headquarters) that does not have operations in the United States.

AXA - French top insurance company

2) One company should be a foreign company (Headquarters) that maintains operations in the United States.

Wawanisa- Canadian insurance company, Service office locates in San Diego

3) One company should be a United States company (Headquarters) with operations in a foreign country.

State Farm- In Fortune 500, operates in Canada and Mexico

4) One company should be a United States company (Headquarters) with no foreign operations.

ALL STATE - U.S based only  

Read and analyze the reports in preparation for answering the given problems. The paper must be a collaboration involving all group members.

1) Analyze the operations of each company. How is the company doing in this present economic environment? Is the world economy affecting the company? How?

2) Compare the format of the financial statements. What are the main similarities and differences? Why do these differences exist?

3) Compare the footnote summarizing the accounting policies followed by the company (usually the first footnote to the financial statements) in the most recent annual reports.  Identify any differences in the accounting principles employed by the companies. What effect do such differences have on their financial position, results of operations, and cash flows? Is one company more conservative or liberal than the other in choosing its accounting principles? Why do you think the difference(s) exist? Also descrbe any accounting principle change that occurred during the period covered by the financial statements.  Was it a mandatory or elective change?

4) Compare the total disclosure and information content of the financial statements. Critique the total presentation and the detailed disclosures. Why are the reports different? Are the financial statements simple or difficult to read? What are the unanswered problems in each of the financial statements? 

5) Which accounting principles have the biggest impact on the financial statements of companies in this industry and which have the least impact? Why? Will any principles influence the financial statements of one company any more or less than the other? Why?

You are to make the report as if you are a team of analysts at an investment company interested in international investments in your selected industry. As part of your report, give a background on your selected industry and the main players and markets around the world. The project is to be a single, coordinated effort. It must not be several reports, written by individuals, stapled together.

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M94400

Have any Question? 


Related Questions in Cost Accounting

Accounting assignmentmotorcade company has three service

Accounting Assignment Motorcade Company has three service departments (S1, S2, and S3) and two production departments (P1 and P2). The following data relate to Motorcade's allocation of service department costs:   Budget ...

Question 1 high-low methodtucson tractor inc has

Question 1 High-low method Tucson Tractor Inc. has accumulated the following data over a six month period   Indirect Labor Hours Indirect Labor Costs January......................... 400 $ 6,000 February................. ...

Accounting assignment1 punch products inc is considering

Accounting Assignment 1. Punch Products, Inc. is considering purchasing a new production machine and has assembled the following information from two vendors of the machine that it is considering buying:   A Products B P ...

Questionyou are just from attending a conference on

QUESTION You are just from attending a conference on Activity Based Costing (ABC) and you now wish to put your knowledge to practice by applying the principles of ABC to the four products currently made and sold by your ...

Cost accounting- little debbie brownieshere is a copy of

Cost Accounting- Little Debbie Brownies Here is a copy of the assignment. My snack of choice is the Little Debbie Fudge Brownies Comprehensive Product Costing Select your favorite drink or snack item manufactured by a pu ...

Assignment cost accountingoverviewthe final project for

Assignment: Cost Accounting Overview The final project for this course is the creation of a quantitative analysis with a memo to management. Classifying a company's costs allows for an in-depth analysis of the impact tha ...

Accounting1 lisa inc estimates that its employees will

Accounting 1. Lisa Inc. estimates that its employees will utilize 200,000 direct labor hours during the coming year. Total overhead costs are estimated to be $6,700,000 and machine hours are estimated to be 100,000. Actu ...

Module 3 - slpstrategic choicessimulationin module 3 you

Module 3 - SLP Strategic Choices SIMULATION In Module 3, you will use CVP analysis to inform the pricing of your 3 products. SCENARIO CONTINUATION: You've now completed SLP2, and it the date is (once again) January 1, 20 ...

Company expansion - internationallocate the financial

Company Expansion - International Locate the financial information for a company that has only domestic manufacturing operations. Assume management desires to expand into the global market with its current products. The ...

Discuss cost management as a professionname three

Discuss cost management as a profession Name three professional cost management organizations and explain their roles. Where in the corporate, not for profit, areas would cost accountants work and what types of work woul ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen