IFRS and US GAAP

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500 words. Financial Statement and Financial Differences IFRS and US GAAP TLEBelow are the calendar year 2018 Annual Reports for Mercedes Benz (MB), prepared under IFRS, and Ford Motor Company (General Motors), prepared under the US GAAP.Daimler: Annual Report 2018 (Links to an external      site.) Ford Motor Company: 2018 Annual Report (Links to an      external site.)Pick, prepare, and compare two common types of the following ratios for MB and Ford: Liquidity, Solvency, Profitability, and Management Efficiency Ratios/Measures. Therefore, you will have a total of eight ratios using the financial statements included in the Annual Reports for each of these two firms. It would be best to prepare two years of ratio results for each company. Include the basis of your calculations in an Excel file with separate labeled tabs (one labeled MB and the other labeled Ford). Then attach the final ratios you calculated for each company, side-by-side, into your initial posting response.For each ratio you have chosen, compare and contrast the results between these two firms. Most importantly, comment on how the differences in the basis of preparation of the respective financial statements, including the related accounting rules followed by each company, might impact the comparison of those ratios between these two firms. Hint: you will need to review the Footnotes to the Financial Statements and the Summary of Significant Accounting Policies for both MB and Ford to identify potential differences in the accounting standards used by both companies.

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