Questions (Remember, accountants like numbers)
Context is very important to understand your responses to these questions. That means when you provide me with numbers explaining a question, without comparing that number to total assets, total equity or net income gives me no idea about the importance of the numbers you provide.
1. Summarize the company's accounting for their foreign currency translation adjustments. Identify and describe the impact any foreign currency adjustments. Can you identify the method used to translate the foreign currency to US$$?
2. Find an interim financial statement and disclosures and summarize and similarities and differences you find when comparing the interim financial statements to the annual consolidated year-end financial statements. For instance, was there evidence of earnings management each quarter or other manipulations during the year?