accounting foreign currency translation disclosures in the computer industry

Foreign Currency translation disclosures in the computer industry
Many companies make annual reports available on their corporate home page.Annual reports also be accessed through the SEC’s EDGAR  system at (under Filing Type, search for 10-K)
Access the most recent annual report for the following U.S.- basedmultinational corporations:
International Business Machines Corporation.
Dell Computer Company.
a.  Identify the location (s) in the annual report that providesdisclosures related to the translation of foreign currency financial statementsand foreign currency hedging.
b.  Determine whether the company’s foreign operations have apredominant functional currency. Discuss the implication this has for thecomparability of financial statements of the two companies.
c.  Determine the amount of translation adjustment, if any, reported inother comprehensive income in each of the three most recent years. Explain thesign (positive or negative) of the translation adjustment in each of the threemost recent years. Compare the relative magnitude of these translationadjustments for the two companies.
d.  Determine whether each company hedges the net investment in foreignoperations. If so, determine the type(s) of hedging instrument used.
e.  Prepare a brief report comparing and contrasting the foreigncurrency translation and foreign currency hedging policies of these twocompanies.
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