Assignment Overview
The main purpose of this Module is to review the balance sheet in more detail.
Is there a difference in approach to valuation by US GAAP and IFRS? Discuss and note two or three specific differences. Additionally, clearly
- Distinguish between an expense (expired cost) and an asset.
- Distinguish between current and long-term assets.
- Distinguish between current and long-term liabilities.
- Review Apple’s balance sheet and provide two examples of each of the above categories.
- Discuss retained earnings and how income or loss and dividends affect this account. Review Apple’s retained earnings account and explain how it changes between the two past years.
- Comment on at least three differences between Apple’s and Samsung’s balance sheets.
- Does Apple or Samsung have more debt?
- Which of the two companies is the bigger one? Explain your reasoning.
Assignment Expectations
The submission should be 3- to 5-pages and need to include answers to all the questions listed above. Show computations, discuss the results, and include references in APA format.