Homework Answers
Saudi Aramco uses accounting regulations as per SoCPA which are fully compliant with IFRS standards however they are different from US adopted GAAP prijciples which ar emust to get listed on NYSE.
Accounting standards at Saudi Aramco does not allow last in first out method of inventory costs. Whereas Us GAAP allows last in first out and first in first out methids are allowed and permissible.
Saudi aramco has high degree of shareholding ratio with state and hence ensures higher control which need to ne diluted in order to raise additional capital through an IPO.
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