Access the financial statements of Magna International Inc. for the company's year ended December 31, 2011. These
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(a) What business is Magna International in?
(b) What types of tangible capital assets does Magna report? Do these assets form a significant portion of the company's total assets at December 31, 2011?
(c) Identify all the accounting policies disclosed in the notes to the financial statements that explain how the company determines the cost of its property, plant, and equipment.
(d) How much did Magna spend on new capital asset acquisitions in 2010 and 2011 (excluding business acquisitions)? Identify where the company obtained the funds to invest in these additions.
(e) Explain how the company accounts for government assistance.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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a Magna International designs develops and manufactures automotive systems modules assemblies and co...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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