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

  Net amount paid to minimize its cost

Also, a 90-day put option with an exercise price of $.73 and a premium of $.01 is available. FAB plans to purchase options to hedge its payable position. Assuming that the spot rate in 90 days is $.71, what is the net amount paid, assuming FAB wis..

  Trade controls-tariffs-subsidies

Describe the following trade controls: Tariffs, subsidies, and quotas. How do these trade controls affect relationship of trading partners and what is their value in international business.

  The manufacturing overhead

The manufacturing overhead

  The cost of producing 25000 drives in the prior year was

powerdrive inc. produces a hard disk drive that sells for 175 per unit. the cost of producing 25000 drives in the prior

  Statements into the balance sheet

The balance sheet pulls pieces of the other financial statements into its layout. What are those pieces and do they pull the focus from the other statements into the balance sheet? Anyone else have thoughts on this--how do the statements interact ..

  Madden electric began operations in 2010 and provides a one

madden electric began operations in 2010 and provides a one year warranty on the products it sells. they estimate that

  What sales volume does ems need

EM Sales had $2,200,000 in sales last month. The contribution margin ratio was 30% and operating profits were $180,000. What sales volume does EM's need to yield a $240,000 operating profit? $600,000 $2,020,000 $2,400,000 $2,440,000

  Partnership net income of 66000 is to divided between two

partnership net income of 66000 is to divided between two partners elan and brian according to the following

  What is the amount of current assets to be reported on the

a retail clothing company began operations in 2014 with assets of 43800. the following additional data have been taken

  Glasier health products

Glasier Health Products

  Post to the ledger accounts

Bridgette Keyes is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred.

  Compare the price of the bonds sold by ethan to

ethan jones is an investment broker. recently he contactedpotential investors and offered to sell them bonds that were

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