Option #1: Mercedes Benz (MB)
Read the Mercedes Benz (MB)’s 2016 Annual Report prepared under IFRS., by clicking here. Pick any two of the financial statements:
- the consolidated balance sheet (statement of financial position)
- the consolidated income statement (statement of income or statement of comprehensive income)
- the statement of cash flows for MB.
Recast the two selected financial statements and present the statements following/in accordance with the US GAAP, presentation-wise, as accurately as you can. (You do not need to restate any of the results for MB in this process–just work with the results as presented.) The recasted financial statements should be an Exhibit or Appendix to your paper. Describe, in an appropriate level of detail, the differences that resulted when you recasted your chosen financial statements from the IFRS to US GAAP, supported with references from the readings in this module or outside references, where appropriate.
- Your paper should be 3 pages in length (not including the required cover and reference pages and excluding the required Exhibits or Appendices showing the recasted financial statements). Written submissions in excess of 4 pages are acceptable.
- Be sure to discuss and reference concepts taken from the assigned module readings and relevant research. You must include a minimum of three credible, academic, or professional references supporting your submission and work.