L’Oreal vs Estee Lauder: Comparison of IFRS and GAAP

Paper details
The two companies selected and approved by the professor for the project. The annual reports should be the most recent, 2015 or 2016.

The project is a critique of the informativeness of a set of corporate annual reports (a U.S. GAAP company vs. an
IFRS company in the same industry). You should evaluate the quality of the
information provided by the company from the perspective of a potential investor. In
other words, you should discuss the strengths and weakness of accounting methods
in the annual report and disclosures in terms of whether they provide relevant and
reliable information to investors. You should address at least THREE of the following
1. Bonds
2. Lease
3. Deferred Income Tax
4. Pension
5. Stock options/Warrants/Awards
6. Dividends /stock dividends/property dividends/stock split
7. EPS/dilutive EPS
8. Accounting errors and changes
9. Cash flow statement
10. Financial statement presentations
You may compare:
– Recognition and measurement (accounting methods) differences
– Disclosure differences including
Differences in the financial statements included in annual reports
Differences in the format used to present financial statements
Differences in the level of detail provided in the financial statements
Terminology differences
For the differences between the US GAAP and IFRS, the following resources
might be also helpful.
a. http://www.pwc.com/us/en/cfodirect/assets/pdf/accounting-guides/pwc-ifrsus-gaap-similarities-and-differences-2015.pdf
b. https://assets.kpmg.com/content/dam/kpmg/pdf/2015/12/US-GAAPcomparison-2015-overview.pdf
c. http://www.iasplus.com/en-us/standards/ifrs-usgaap
d. http://www.ey.com/Publication/vwLUAssetsAL/IFRSBasics_BB3119_22Dec
ember2015/$FILE/IFRSBasics_BB3119_22December2015.pdf (Registration
may be required)
e. Lease Accounting: http://www.ifrs.org/Current-Projects/IASBProjects/Leases/Documents/IFRS_16_effects_analysis.pdf

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