Locate the most recent annual report of Toshiba Corporation, the large Japanese electronics company, on the company’s website: www.toshiba.co.jp. You will find an electronic copy of the annual report in the “Investor Relations” section of the website.
1. Besides the financial statements and related notes, what other types of information are contained in the annual report?
2. What types of financial statements are included in the annual report?
3. What country’s GAAP rules does Toshiba follow in preparing its annual report?
4. Toshiba’s common stock is traded on the New York Stock Exchange. How can you determine if there are differences between Toshiba’s reported net income and the net income that would have been reported under U.S. GAAP?