International Competition in Companies

For this assignment, you are encouraged to choose two international publicly traded companies who are competitors within the same sector. You should acquire the annual reports or 10-K for the two companies from: www.Investing.com; or www.finance.yahoo.com; or www.reuters.com, or simply companies’ websites. It is necessary that you choose companies whose financial statements are prepared according to the International Financial and Reporting Standards (IFRS).

Within the report, include/critically discuss the following:

1- A brief outline of both companies and the sector in which they operate with a link to the national reporting and regulatory environment of the country.

2- A critical analysis of how financial statements have been prepared, including:
➔ A discussion of the IFRS standards which are consistently
applied by the two companies.
➔ A discussion of the financial reporting issues for both companies. This section of your report should discuss the existing accounting requirements that should be
considered when addressing the financial effects of the coronavirus outbreak in the preparation of IFRS financial statements.
➔ A critical appraisal and comparison of the financial
performance of both companies for at least five years of analysis, including the coronavirus period. Also, explain how a company’s financial reporting affects financial analysis (performance).

3- Many US companies and German companies assume IFRS isn’t relevant to them — until the potential for a cross-border deal emerges due to the COVID-19 pandemic. However, it is usually a major challenge for companies to convert their accounting from GAAP to IFRS. A change in the rules and regulations has an impact on the entire organisation. In order to carry out the process successfully, the conversion should not be underestimated. In this section of your
report please:
➔ highlight specific accounting differences between the IFRS and GAAP that may be useful to users of financial statements.
➔ Summarise in a table the primary impacts to convert from IFRS to GAAP
*It is critical that you support your analysis/ discussion with some

examples from both companies’ financial statements.

Harvard style of referencing Table of content
Executive summary Introduction Analysis Conclusion Bibliography References.

-Also proper structuring and numbering contribute to a higher score.