04 September 2022
COURSE: ACCT301-[ASSIGNMENT]
STATUTORY FINANCIAL REPORT
Rudy Ghassan Awad (ID:202371886)
Data Needed
Company A US stock exchange
Company B Arab Stock
Exchange
Company names
The Boeing Company
Saudi Arabian Oil Co.
Industry sector
Aerospace & Defense
Energy, Oil and Gas
• Commercial Airplanes (BCA);
• Defense, Space & Security (BDS);
• Global Services (BGS);
• Boeing Capital (BCC).
Stock exchange where they are
New York Stock Exchange (NYSE)
Tadawul Stock Exchange
Who is responsible for their
Registrant Carol J. Hibbard – Senior Vice
Chairman of the board: H.R Yasir
financial statement?
President and Controller
O. Al-Rumayyan
(Principal Accounting Officer)
President & CEO: Amin H.Nasser
listed?
CFO: Ziad T. Al Murshed
In which note do they discuss
In Notes to the Consolidated Financial
The notes to the consolidated
significant accounting
Statements; Note1- Summary of significant
financial statements.
policies?
accounting policies.
What type of audit opinion is
 Opinion on financial statements.
 Opinion the consolidated
reported?
 Opinion on Internal Control over
financial statements.
Financial Reporting.
Whose opinion is it?
Independent registered public accounting
Independent Auditor:
firm:
PricewaterhouseCoopers PWC,
Deloitte & Touche LLP (PCAOB ID No. 34)
License No. 25, Saudi Aramco,
P.O. Box 1659, Dhahran 31311,
Kingdom of Saudi Arabia
T: +966 (13) 873-6800, F: +966
(13) 873-8883,
www.pwc.com/middle-east
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Are the financial statements in
 US GAAP
 International Financial Reporting
accordance to US GAAP,
 Public Company Accounting Oversight
Standards (IFRS).
IFRS or other body of
Board (United States) (PCAOB).
 Saudi Organization for Chartered
standards?
and Professional Accountants
(SOCPA).
Identify the statutory financial
 10-K: Annual Report
 Annual Report
reports that you were able to
 10-Q: Quarterly Report
 Quarterly Interim Report
access for each
 8-K: Current Report
 Quarterly Results press release
 DEFA14A: Proxy Filling
Identify the information that
Item 1. Business
1.0 Aramco History
you found in their respective
Item 1A. Risk Factors
1.1 Chairman and CEO messages
annual reports
Item 1B. Unresolved Staff Comments
1.2 Aramco’s operations
Item 2. Properties
1.3 Aramco’s Business model
Item 3. Legal Proceedings
2.0 Business overview and strategy
Item 4. Mine Safety Disclosures
3.0 Results and performance
Item 5. Market for Registrant's Common
4.0 Environmental, social and
Equity, Related Stockholder Matters and
governance
Issuer Purchases of Equity Securities
5.0 Risk Management
Item 6. [Reserved]
6.0 Corporate Governance
Item 7. Management's Discussion and
7.0 Additional Financial and Legal
Analysis of Financial Condition and Results
information
of Operations
8.0 Consolidated Financial
Item 7A. Quantitative and Qualitative
Statements
Disclosures About Market Risk
Item 8. Financial Statements and
Supplementary Data
Item 9. Changes in and Disagreements with
Accountants on Accounting and Financial
Disclosure
Item 9A. Controls and Procedures
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Item 9B. Other Information
Item 10. Directors, Executive Officers and
Corporate Governance
Item 11. Executive Compensation
Item 12. Security Ownership of Certain
Beneficial Owners and Management and
Related Stockholder Matters
Item 13. Certain Relationships and Related
Transactions, and Director Independence
Item 14. Principal Accountant Fees and
Services
Item 15. Exhibits, Financial Statement
Schedules
Item 16. Form 10-K Summary
Signatures
As a potential investor, how do
As a potential investor, I can see that the information provided by both companies,
you find this information? Is it
one following the US GAAP and the other following the IFRS, are sufficient to
enough? Is the information
elaborate a good understanding about the company’s history, sectors of operations,
comparable? What similarities
management views, risks, audits and financial reports etc. which provides enough
and differences do you
information to judge the company financial health and reduces the risk of
identify?
investment.
References
Aramco, S. (2021). Annual Report. Riadh: Saudi Arabian Oil Company.
Boeing. (2021). Annual Report, Form 10-K. Chicago: SEC.
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