Select an annual report of a parent company. The report that you select should have the following characteristics:
– The annual report should correspond to the last available year.
– It should be written in English.
1) Provide a complete explanation of the consolidated financial accounts relating them with the elements covered in class.
a) Do the financial reports present goodwill and/or minority interests? Define goodwill and minority interests. Describe in detail how the company describes these items.
b) Which is the percentage of ordinary shares that the parent company owns from their subsidiary companies?
c) Does this company have any leasing contract? If so, is it a financial or operating leasing?
Define financial and operating leasing. In case the company does not have a leasing contract, would you recommend the company to engage in a leasing agreement? Why?
d) Does this company also have associate companies? Which is the percentage of ordinary shares that the parent company owns from their associate companies? Define the type of ownership that the parent company has with the associates.
2) Provide a detailed description of the business model and the cost structure of the firm (sources might include, but are not limited to, financial statements, business press, and analyst reports). Relate this information to some of the managerial accounting concepts covered at class.
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