118-SS'09-HW#2-INTL-NOKIA - 3. Who were its auditors? What...

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Econ 118-Financial Statement Analysis–SS’09 Homework # 2 - International comparison Nokia touts itself as “the world leader in mobility, driving the transformation and growth of the converging Internet and communications industries.” The questions below are all based on Nokia’s 2007 annual report. Answer all questions by reference to its consolidated financial statements, and not the parent-only financial statements. 1. Where is the company headquartered and what are its 10 major markets based on 2007 net sales.? 2. What financial reporting standards were followed in its financial statements?
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Unformatted text preview: 3. Who were its auditors? What standards did they follow? 4. In what currency are amounts expressed? 5. Recast the balance sheet for year-end 2007 following the format used under U.S. GAAP and taking into account measurement differences for R&D and inventories. Do not attempt currency translations. Use only major captions, except do show the detail for current assets. Assume that under U.S. GAAP Nokia would value inventories using LIFO, which at year-end 2007 was 250 less than the valuation using FIFO. Show all your work....
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This note was uploaded on 09/09/2009 for the course ECON 118 taught by Professor Loster during the Spring '07 term at UCSB.

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