ACCT715 Case #2.docx - Many non-U.S companies make annual...

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Many non-U.S. companies make annual reports available on their corporate Internet home page. Access the financial statements from the most recent annual report for a foreign company with which you are familiar to complete this assignment. Required a. Determine the set of accounting rules (GAAP) the company uses to prepare its financial statements. The consolidated financial statements of Linde AG for the year ended December 31, 2016 have been prepared in accordance with International Reporting Standards (IFRS) issued by the International Standards Board (IASB) as adopted by the European Union pursuant to EU Regulation No. 1606/2002 of the European Parliament and the Council on the application of International Accounting Standards in the European Union. The consolidated financial statements also comply with the additional requirements set out in § 315a (1) of the German Commercial Code (HGB). The reporting currency is the euro. All amounts shown in millions of euro (EUR m), unless stated otherwise. The Group statement of profit or loss has been prepared using the cost of sales method.
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