Explore BrainMass

Accounting Criteria of Ford and Honda

Can you help me outline 12 bullet points comparing and contrasting the accounting reporting criteria between Forda and Honda using GAAP? Do both companies use GAAP or just Ford? If Honda doesn't use GAAP, what do they use compared to Ford?

Can you help me cite three references noting the contrast and comparison?

Solution Preview

1. Investments in land, whatever the purpose of land is carried by Honda at cost., however, this is not the case with Ford, this is not the case.
2. Honda need not present comprehensive income, the financial statements on the company website show "financial data' and this is not as comprehensive as seen in SEC filings of Ford Motor Company.
3. The geographical segment information and segment wise information is given by Honda that seems similar to that provided by Ford Motors.
4. In case of Honda there is a consolidated statement of retained earnings instead of shareholder equity found in Ford Motor Company statement.
5. In ...

Solution Summary

400+ words compare and contrast accounting reporting criteria in Ford and Honda in bullet form.