Access the annual financial statements of Stora Enso Oyj for the companys year ended December 31, 2017.
Question:
Access the annual financial statements of Stora Enso Oyj for the company’s year ended December 31, 2017. These are available at the company’s website, www.storaenso.com. Review the information that is provided and answer the following questions about the company.
Instructions
a. What major business(es) is Stora Enso in?
b. What types of biological assets does the company have? Identify the accounting policies disclosed in the notes to the financial statements that explain how the company accounts for these assets.
c. What was the amount in the biological assets account at December 31, 2017 and 2016, owned directly by Stora Enso? What caused this account balance to change from 2016 to 2017? Be specific.
d. How is fair value of the biological assets determined? What kinds of estimates are required to determine fair value?
e. What was the impact on the net earnings for 2017 and 2016 related to the biological assets valuation?
Financial StatementsFinancial 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...
Step by Step Answer:
Intermediate Accounting Volume 1
ISBN: 978-1119496496
12th Canadian edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy