Evaluate the directional impact accounting

Assignment Help Financial Accounting

Reference no: EM1376494

Chain Eastern Airlines Corporation limited arranges a set of financial statements in accordance with IFRS. Until 2007 the company also gave a reconciliation of IFRS net income and net assets to US GAAP. Describe the difference between IFRS net income and US GAAP net income and IFRS net asset and US GAAP net asset that result from accounting differences related to revaluation of fixed assets. Evaluate the directional impact accounting difference described above would have on the subsequent ratios calculated under IFS and US GAAP. Current Ratio, debt to equity ratio, total asset ratio.

Reference no: EM1376494

Questions Cloud

Methods of inventory costing : Why do you believe we have four? Do we need four? What are the advantages and disadvantages of having four methods?

Evaluate the amount of cash receipts for march : Evaluate the amount of cash receipts for March, April and May and evaluate the amount of cash disbursements for March, April and May.

Press conferences during presidential campaign : I heard a story about few professional actors who were planted in press conferences during past presidential campaign to pose questions to President Bush that were staged so that he had a prepared response.

Evaluate direct materials cost per equivalent unit : Evaluate both the direct labor cost and the direct materials cost per equivalent unit.

Evaluate the directional impact accounting : Evaluate the directional impact accounting difference described above would have on the subsequent ratios calculated under IFS and US GAAP.

Question about thinking strategies : Give an appropriate application in workplace for two of the three following thinking strategies,

Machiavellian theory : Based on Machiavelli's literary work The Prince seizing power is justified if the results are satisfactory. Machiavellian has come to mean ruthless opportunism.

Evaluate what is the company''s average days : Cost of goods sold for the year is $240,000. Evaluate what is the company's average days in inventory?

Question about free car : Suppose you run an orphanage and have had a hard time making ends meet. A car dealership offers you a new van worth $15,000 for free if you will falsely report to government that dealership donated a van worth $30,000.

User Account

All Pages