Reference no: EM13951936
Foreign companies whose stocks are listed on United States Stock Exchanges are required to file Form 20-F reconciliations with the Securities and Exchange Commission if they prepare their consolidated financial statements in accordance with any standards different than current United States GAAP or IFRS.
Prior to 2014, AngloGold Ashanti prepared their annual audited consolidated financial statements contained in the annual report on Form 20-F for years ending on or before December 31, 2012 in accordance with United States GAAP. However, the company made a change in 2014 and prepared the annual audited consolidated financial statements contained in the annual report on Form 20-F for the year ended 31 December 2013 in accordance with IFRS as issued by the IASB.
For this Assignment, you are going to analyze the differences in the year ending 12/31/2012 figures found in the 2012 and 2013 Form 20-F Reconciliations.
Download the 2013 Form 20-F and the 2012 Form 20-F.
Compare the 2012 financial data found in the 2013 Form 20-F with the 2012 financial data found in the 2012 Form 20-F Reconciliation. Analyze the differences in the key financial indicators used by financial analysts and comment on your findings. Make sure you include, at a minimum, answers to the following questions in your analysis.
1) What is the difference between IFRS Revenues and United States GAAP Revenues for 2012?
2) What is the difference between IFRS Net Income and United States GAAP Net Income for 2012?
3) How might these differences influence investor decisions?
4) How might these differences influence financial analysts' assessment of the company? Consider using financial ratios to support your answer.
5) What are some key differences in the figures found on the balance sheet for 2012?
6) Which method would the AngloGold Ashanti management prefer to report to stakeholders? Why?
7) Why are 20-F Reconciliations helpful to investors considering investing in foreign companies listed on US Exchanges?
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