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Magna International

Magna International

Review the report I upload (It is an analytical report about the differences between two companies’ annual financial reporting), then write a paper about the review.

1. Start with a summary of the analytical report

2. Discuss the strengths and possible weaknesses of the report, for example;

a) Did the author find the correct financial reporting differences between the two companies? (The comparisons of the numbers are not the comparisons of financial reporting)

b) Did the author use of right theories/knowledge, especially to discuss the potential causes of different reporting?

c) Is the information provided by the author correct?

d) Is the analysis appropriate?

3. Suggest the possible improvements to the author

(2 pages, double space, any tables or graphs that you may want to use should be placed at the end of the paper, and that is excluded words. Indicate the page number at the bottom of each page. No cover page needed)

…………………Answer preview……………………….
Magna International is an electronic company while Volkswagen is an automobile manufacturing company. Magna uses the method of foreign currency translation in its income statement. The use of foreign currency affects the outcome of its income statement. Foreign currencies are subject to fluctuations. These fluctuations may either favor or adversely affect the cash flow reporting of the company. Magna uses US dollars to prepare its consolidated financial statements so as to comply with US accounting principles……………………..
APA
598 words
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