Dear Tomo,
Thank you for your fourth message. My comments follow.
Next, we will learn about the balance sheet. The next lesson is at:
http://www72.homepage.villanova.edu/susan.stiner/cgu/balance101.htm
Sincerely,
Prof. Sue Stiner
Tomoko Iiduka wrote:
Dear Prof. Stiner,
Thank you for your fourth message.
I saw sources of American accounting information.
I saw the homepage of the SEC.
It has much information.
Therefore I took pains to understand it.
>Tomo, I am glad you studied the SEC website. It is a very important
site for US investors. It has much information about many companies.
It is a reliable source of financial information.
But to memorize something new is challenging.
I saw Delaware's tax system and Pennsyivania's tax system.
>1. How is the U.S. Securities and Exchange Commission different
Ø from Japan's Securities and ExchangeCommission.
Answer: SEC has five Commissioners who are appointed by the President
of the United States with the advice and consent of the Senate.
SESC(Securities and Exchange Surveillance Commission Japan)
has three commesseoners who are appointed by the
Financial Services Agency.Their work is almost the same.
But SEC is more powerfull than SESC.
> 2. How are American stock exchanges different from Japan's stock exchanges?
Answer; The typical stock exchange in the U.S. is NYSE(New YorkStock Exchange).
NYSE is ｔhe largest in the world. The tyoical stock exchange in Japan is Tokyo Stock Exchange.
Individual stock holder of U.S. is 50%. It of Japan is 20%.
About half of US stock is held by individuals. About 20% of stock in
Japan is held by individuals.
There are few stock holders of Japan than the United States.
There are fewer stockholder in Japan than in the US.
> 3.A. What is the Japanese company that you chose for the financial statements?
Answer; I chose Sony coporation. The president is Nobuyuki Idei.
The company is playing an active part in large fields, such
as electronics, music, insurance, and a movie and a game.
The total lssets of Sony were the 10th place in Japanese companys.
Shareholders equity of Sony is 1,823,700,000,000. Net income of Sony is 179,000,000,000.
Therefore, ROE of it's company is 9.8%.
> 3.B. What is that company's website?
Answer; http://mr.topica.ne.jp/ir/gs/gcis/japanese/gs_j/pdf/6758_99/6758j_08.pdf
> 4.A. What financial information does McDonald's of Japan have at its website?
Answer; The financial information of Japanese Macdonald was about sales.
It couldn't see annual report etc.
I thought that publicpresentation of financial information of Japanese company as not enough.
I thought that the Japanese company's presentation of financial
information for the public was not enough.
> 4.B. How does that information compare to the financial information at
>McDonald's USA site?
Answer; Macdonald of U.S. can see annuel report, praxy statement,
down loadable financials, SEC filings and NAIC report.
> 5. How does the flow of accounting information over the Internet
> help corporations and investors?
Answer: There are two advantages to having accounting information on the
Internet. (1) A company can send information to many investors at once.
>Tomo, I saw only one advantage listed. Another advantage is that
>investors can receive current information and act on it faster.
>Investors can decide more quickly to buy or sell.
Sincerely,
Tomo.