Sonsolidated financial statements in accordance with ifrs

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Reference no: EM131288568

Swisscom AG, the principal provider of telecommunications in switzerland, prepares sonsolidated financial statements in accordance with IFRS. Until 2007, Swisscom also reconciled its net income and stockholders equity to US GAAP. Swisscom's consolidated financial statements from a recent annual report are presented in their original format in column 1 of the following worksheet. Note 21, Differences between International Financial Reporting Standards and US GAAP which includes Swisscom's US GAAP reconciliation also is provided.

1. Use the information in note 27 to restate swisscoms consolidated financial statements in accordance with us GAAP. begin by constructing debit/ credit entries for reach reconciliation item, and then post these entries to columns 2 and 3 in the worksheets provided.

2 Calculate each of the following ratios under both IFRS and US GAAP and determine the percentage differences between them, using IFRS ratios as the BAse:

Net income/ net revenues; Operatiing Income/ Net Revenues; Operating Income/ Total Assets; Net Income/ Total Shareholders Equity; Operating Income/ Total Shareholders Equity

Reference no: EM131288568

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