Throughout your course work, you explored topics such as cost and revaluation mo

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Throughout your course work, you explored topics such as cost and revaluation models of accounting, revenue recognition, assets and liabilities, translation accounting, consolidated financial statements, and international taxation. These topics are all an integral part of financial reporting in international accounting. With your course studies in mind, create an 8- to 10-slide PowerPoint Presentation addressing the following:
Part One—U.S. and Foreign Companies
Select two companies from the same industry: (ONE COMPANY WILL BE GOOGLE)
One international/foreign company operating in the United States (e.g., Nestle) following the IFRS
One U.S. company operating in a foreign country (e.g., Kraft Foods) following the U.S. GAAP
Locate and analyze each company’s financial statements and disclosures.
Part Two—Topics in International Accounting
Select two of the following topics and consider international accounting issues surrounding the topics and companies you selected:
Cost and revaluation models of accounting
Analyze each company’s model of accounting. Determine whether the companies use the cost or revaluation models of accounting. Evaluate the implications of each company’s accounting model. Describe how the companies compare to each other.
Revenue recognition
Analyze each company’s revenue. Consider the types of revenue the companies generate. Determine which type of revenue is greatest for each company. Evaluate the implications of the differences between IFRS and U.S. GAAP revenue recognition standards on each company.
Assets and liabilities
Analyze each company’s financial statements. Consider the types of financial assets and liabilities such as securities and other financial investments they have acquired. Determine whether the investments were acquired as short-term or long-term investments. Evaluate the implications of these investments on the companies.
Translation accounting
Analyze each company’s reporting currency. Determine whether the company uses a different reporting currency than its functional currency. Explain why a company would use a currency other than its functional currency for financial reporting.
Consolidated financial statements
Analyze the foreign company’s financial statements. Determine whether the foreign company reports its financial information on a consolidated basis, separate basis, or both. Provide your opinion on whether international standards, like U.S. GAAP, should require companies to report on a consolidated basis.
International taxation
Analyze each company’s taxation. Consider how the foreign company is taxed and how the U.S. company is taxed in comparison. Determine each company’s treatment of foreign source income. Evaluate the implications of taxation on each company.
Part Three—Foreign Financial Statements
Identify inherent issues in analyzing foreign financial statements. Evaluate the impact of these issues on financial reporting in international accounting. Provide recommendations for mitigating these issues.

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