Introduction
We are analyzing the financial position of AsiaCell Company during the years (2011, 2012, and 2013); the financial statements are provided on Iraqi Exchange and commission website (www.isx.iq). It is important that you fully understand the data presented here. Please be aware that the analysis presented is not a prediction of the future but rather a tool for monitoring the progress of AsiaCell business over time. This information should factor into your decision making, but it should certainly not be the only factor in your business decisions. Be sure to consult all appropriate resources and professionals before making any decisions that may affect the financial health of AsiaCell Company. Based on our review, we are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in conformity with generally accepted accounting principles.
Financial statements of AsiaCell Company
Financial statements Differences:
There many differences in terminology in between Iraqi company’s financial statements prepared in English language and the English language accepted internationally, and even some translation were used wrong. Some differences in the entities we used:
Total Liabilities ………………….. Finance sources
Current liabilities ……….……… Total Short-term sources
Total stockholder equity ……. Nominal and paid up capital
Net
