Prepares its financial statements

Assignment Help Accounting Basics
Reference no: EM13882213

1.Air France KLM (AF), a French company, prepares its financial statements according to International Financial Reporting Standards. AF's annual report for the year ended March 31, 2011, which includes financial statements and disclosure notes, is provided with all new textbooks. This material also is included in AF's Registration Document 2010 11,dated June 15, 2011 and is available at www.airfranceklm.com.

Required:
1. Air France KLM lists four items in the shareholders' equity section of its balance sheet. If AF used U.S. GAAP, what would be the likely account titles for the first and fourth of those components?
2. Locate Note 27.4 in AF's financial statements. What items comprise Reserves and retained earningsas reported in the balance sheet? If Air France KLM used U.S. GAAP, what would be different for the reporting of these items?
3. Describe the apparent differences in the order of presentation of the components of liabilities and shareholders' equity between IFRS as applied by AF and a typical balance sheet prepared in accordance with U.S. GAAP.

Reference no: EM13882213

Questions Cloud

Essay about considering the male characters : The paper is based on short stories by author leila Aboulela which I am sure you can find online, my essay is about considering the male characters and their struggles with regard to feminism, basically looking at a males perspective.the short sto..
Development of your statistical analysis : Your poster should highlight the problem and its motivation, your approach and principal contributions, the results of your experiments, and any major take-aways for the future - development of your statistical analysis, including a mathematical f..
Compute cost of debt capital before taxes and after taxes : Compute the cost of debt capital (a) before taxes and (b) after taxes from the company perspective. Obtain the answers by hand and spreadsheet.
What broad conclusions can you draw from this example : A priori, would you expect expenditure on food to increase linearly as total expenditure increases regardless of the level of total expenditure? Why or why not? You can use total expenditure as a proxy for total income.
Prepares its financial statements : 1.Air France KLM (AF), a French company, prepares its financial statements according to International Financial Reporting Standards.
What is the net present value of sams business : Sam wants to start a small commercial bakery to supply gourmet deserts to local restaurants. He believes that with his product line and his connections in the restaurant business, he can grow the business over the next five years into a profitable ni..
Risk and return and coefficient of variation : Based on the following information, calculate the coefficient of variation and select the best investment based on the risk/reward relationship:
Compare the wacc for the hong kong project with the wacc : Illustration purposes, assume that the present worth of the total system cost is $20 million with financing sources and costs as follows. Compare the WACC for the Hong Kong (HK) project with the WACC of the existing projects.
Present value of annuity problem : You will receive $2,000 at the end of the next 12 years, assuming a 6% discount rate, what is the present value of the cash flow?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Projects expectations-the company that i admire most

Each student is to evaluate a company that you believe is one of the best companies in the United States. There are several key attributes that you could use for determining your particular chosen company. There are also four key attributes of a b..

  What is the consolidated balance for the equipment account

willkom corporation bought 100 percent of szabo inc. on january 1 2009 at a price in excess of the subsidiarys fair

  Computing budgeted cost of merchandise purchases

Brill Company's July sales budget calls for sales of $800,000. The store expects to begin July with $30,000 of inventory and to end the month with $35,000 of inventory. Gross margin is typically 40% of sales. Determine the budgeted cost of merchan..

  Company accounts receivable balance

What is Farr Company's accounts receivable balance at December 31, 2010?

  Determine the recipient and amount of the partner bonus

Determine the recipient and amount of the partner bonus and provide the journal entry to admit Lane into the partnership.

  Accumulated depreciation for the asset

Moped, Inc. purchased machinery at a cost of $22,000 on January 1, 2011. The expected useful life is 5 years and the asset is expected to have salvage value of $2,000. Moped depreciates its assets via the double-declining balance method.

  The intramural sports club reports sales revenue of 550000

the intramural sports club reports sales revenue of 550000. inventory at both the beginning and end of the year totals

  When the corporation issuing the bonds has the right to

1. one potential advantage of financing corportations through the use of bonds rather than common stock isa.the

  Qd3000-10p qs-100010p where is q is the number of

qd3000-10p qs-100010p where is q is the number of businesses that need services and p is the monthly fee in

  Joint costs using different methods

ED Products Corp. chooses to process the butter further into spreadable butter by mixing it with canola oil, incurring an additional cost of $1.60 per pound. This process results in two tubs of spreadable butter for each pound of butter processed...

  Winfrey cos march 31 inventory of raw materials is 150000

winfrey co.s march 31 inventory of raw materials is 150000. raw materials purchases in april are 400000 and factory

  Assignment-budget planning and control

Use the Internet and / or Strayer databases to research budget planning and control. Imagine that the company that you currently work for, have previously worked for, or would like to work for in the future has tasked you with preparing a budget p..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd