Problem:
Refer to the latest annual financial statements for the two following companies: Apple and Philips. Generally, this information is found in the Investor Relations area of the website. In here you need to use the most current annual financial statements at least 2010-2011 at the minimun.
Clearly identify the companies, the time period, and include the link to the financial statements you are analyzing in your report.
What accounting conventions do the two companies follow, US GAAP or IFRS?
What about auditing standards for the two companies?
Locate the income statement for the past two years for both companies. Prepare a table comparing five items or more from each statement. This part it is important, you need to develop a comparison table, showing your knowledge on the subject
Comment on the changes from one year to another. Is the company doing better or worse? Did revenues and expenses increase or decrease?
Is it easy to discern trends or compare the information from year to year and between the two companies? Please, comments on both aspects and show some examples.