What amounts are shown in air france december

Assignment Help Financial Accounting
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

Questions Cloud

Did heart burns change its method of accounting : Did Heart Burns change its method of accounting? Heart Burns, Inc. sells Valentine Day cards. When it began its operations it would ship the cards
Draw clearly the cfd : A rural town railroad project requires 8 annual maintenance fees. At the end of the first year, the cost is estimated to be $20,000. The good news is that the u
What would be the amount of accumulated depreciation : What would be the amount of accumulated depreciation and the carrying value of the asset at the 30 June 2020, if we were to use the straight-line depreciation
Discuss the rules of professional conduct violated : Discuss the Rules of Professional Conduct violated and the nature of the violations. In addition discuss any actions taken during the audit
What amounts are shown in air france december : Is this the policy AF will follow when it begins applying the new lease guidance in IFRS 16? Explain. What amounts are shown in AF's December
Compute the total variance for materials : Monument Golf Markers, Compute the total variance for materials, and determine how much is related to price and how much is related to quantity.
How the land should be recorded at a cost o : The value of the stock is not easily determined, but the appraised value of the land is $575,000. The land should be recorded at a cost of?
How much is bad debt expense for flyer company : Flyer Company has provided the following information prior to any year-end bad debt adjustment, How much is bad debt expense?
What is the minimum expected annual return : If Stocks 1 and 2 have expected returns of 0.08 and 0.09 per year, respectively, then what is the minimum expected annual return for Stock 3

Reviews

Write a Review

Financial Accounting Questions & Answers

  Explain the professional conduct of michael stephen

Explain the professional conduct of Michael Stephen & Partners and its other members in terms of the APES 110 Code of Ethics for Professional Accountants.

  Give the journal entry to record issuance

Give the journal entry to record issuance of the bond and give the journal entry to record the conversion of the bonds assuming

  What was the profit or loss on disposal of the vehicle

What was the profit or loss on disposal of the vehicle? During the year ended 31 December 2012 a business purchased a vehicle for $23500.

  What is the increase of ENT fair value since acquisition

?What is the increase of ENT's fair value since acquisition under the entity theory? ELE Ltd. acquired 60% of ENT's voting shares on Jan. 1

  Calculate the amount that prt should include

Calculate the amount that PRT should include in its consolidated statement of financial position as at 31 December 2013

  Record the journal entry if any necessary at december

Garfield Company purchased, as a held- Record the journal entry, if any, necessary at December 31, 2014, to record the fair value option for the bonds payable.

  Find how much goodwill would be created by teacher

Find how much goodwill would be created by Teacher's acquisition of Student? Teacher Inc. purchased all of the outstanding common shares of Student Inc

  Capital budgeting criteria-ethical considerations

An electric utility is considering a new power plant in northern Arizona. Power from the plant would be sold in the Phoenix area, where it is badly needed. Because the firm has received a permit, the plant would be legal; but it would cause some air ..

  Calculate the firm fair expected return

Suppose that a firm's beta is 0.6. The T-bill rate is 6 percent, and the market return is 14 percent. Calculate the firm's fair expected return

  Value-added features on products

Innovative product sourcing globally, so that customers are offered distinctive and affordable furniture and appliances and value-added features on products to ensure differentiation and increase the perceived value

  Multiple choice questions based on business

multiple choice questions based on business accounts.1.nbspwhich organizational form allows the business to be a

  What is the cost of waste due to excess inventory

Kate Connor, a teacher at Meadow Middle School, is in charge of ordering the T-shirts to be sold for the school’s annual fund-raising project. The T-shirts are printed with a special Meadow School logo. If the school receives actual sales orders for ..

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