UBS AG is a global provider of financial services to private, corporate and institutional clients. The companys
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of three segments: Wealth Management International & Switzerland, Wealth Management US and Business Banking Switzerland.
UPM-Kymmene is a Finnish paper maker. Its core businesses are the production, sales and marketing of magazine papers, newsprint, and fine and speciality papers. Paper operations are supplemented by the sale of converted and wood products.
UBS and UPM-Kymmene publish the following information (source: Annual reports 2011). The detail of the extraordinary income and expenses included in the accompanying financial statements are as follows:
In the Notes one can find additional information regarding the composition of extraordinary income and expenses:
Required
1 For each firm, how well do expenses and income reported correspond to the definitions of extraordinary items indicated in section 6 of this chapter.
2 What do you think of the terminology used by UBS and UPM-Kymmene? How helpful are the categories provided by each firm for an investor to understand the implication of these items on future performance?
3 For UBS Bank, reconcile the figures reported in the income statement and the additional information found in the notes. What do you notice?
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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Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
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