Question: Access the financial statements of Magna International Inc for the

Access the financial statements of Magna International Inc. for the company's year ended December 31, 2011. These are available at or the company's website. Review the information that is provided and answer the following questions about the company.
(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.

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