Comparing of Accounting Practices in French, US and Qatari Companies

Differences in Accounting Practices of French, US and Qatari Companies
Finding Differences in Accounting Practices of French, US and Qatari Companies
Read:
Comparative International Accounting (Nobes and Parker), Pearson, 13^th edition of 2016, Chapters 2.9, 8 and 15.2 (Uploaded in Blackboard)
International Accounting (Doupnik and Perera), McGraw-Hill Education, 4/5^th edition of 2016/2020, Chapter 2 (FURTHER EVIDENCE OF ACCOUNTING DIVERSITY)
On the internet, find the 2018 reports of the following companies
–     Carrefour SA (French parent company, i.e. using French accounting not IFRS), pp. 256-269. (http://www.carrefour.com/content/annual-reports)

• Costco (US GAAP), 33-61 of Form 10-K. (https://investor.costco.com/financial-information/annual-reports)

–     Baladna (Qatari company, using IFRS), pp.1-40. (https://baladna.com/investor_relations/ipo/)
REQUIRED:

1. ‘US Accounting is the best in the world, but it might be an unnecessary luxury for a country such as France.’ Discuss (no more than 250 words)
2. Refer to the income statements for Carrefour SA, Costco, and Baladna. Calculate gross profit margin (gross profit/sales), operating profit margin (operating profit/sales) and net profit margin (net earnings/sales) for each of these companies. If a particular ratio cannot be calculated, explain why not.
3. Looking at the financial statements of Carrefour SA (French accounting) and Costco (US GAAP):
   1. Determine the financial statements included in an annual report
   2. List two format differences in the companies’ balance sheets
   3. Give one example of differences in the level of details (on the face of the financial statements)
   4. Give one example of disclosure differences (in the notes)
   5. Give one example of either recognition or measurement differences