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What amounts are shown in air france december

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Reference no: EM133002736

Air france-KLM (AF), a Franco-Duch company, prepares its financial statements according to international financial reporting standards. AF's financial statements and disclosure notes for the year ended December 31, 2017, are available in connect. This material is also available under the Finance link at the company's website. This case addresses a variety of characteristics of financial statements prepared using IFRS, often comparing and contrasting those attributes of statements prepared under U.S. GAAP. Questions are grouped in parts according to various sections of the text book.

Problem 1: AF states that "leases are classified as finance lease when the lease arrangement transfers substantially all the risks and rewards of ownership to the lessee." Is the policy companies using U.S GAAP follow?

Problem 2: Is this the policy AF will follow when it begins applying the new lease guidance in IFRS 16? Explain.

Problem 3: What amounts are shown in AF's December 31, 2017, balance sheet for deferred taxes?

Reference no: EM133002736

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