Question

In: Accounting

Air France Case Air France KLM, A franco-dutch company, prepares its financial statements according to International...

Air France Case

Air France KLM, A franco-dutch company, prepares its financial statements according to International Financial reporting standards. AF;’s financial statements and disclosures notes for the year ended December 31, 2015 are provided in connect. This material is also available under the Finance link at the company’s website. ( www.airfranceklm-finance.com)

Required:

What are the primary classification into which AF’s cash inflows and cash outflows are separated? Is this classification the same as or different from cash flow statements prepared in accordance with US GAAP?

How are cash inflows from dividends and interest and cash outflows for dividends and interest classified in AF’s cash flow statements? Is this classification the same as or different from cash flow statements prepared in accordance with US GAAP?

Solutions

Expert Solution


Related Solutions

How might your solution differ if Chadwick Enterprises, Inc., prepares its financial statements according to International...
How might your solution differ if Chadwick Enterprises, Inc., prepares its financial statements according to International Financial Reporting Standards? Assume that the fair value amount given equals both (a) the fair value less costs to sell and (b) the present value of estimated future cash flows.            Book value                                                             $6.5 million Estimated undiscounted sum of future cash flows       4.0 million Fair value less costs to sell                                       3.5 million Present value of estimated future cash flows              3.5 million
Mikky is a public limited company that prepares financial statements in accordance with International Financial Reporting...
Mikky is a public limited company that prepares financial statements in accordance with International Financial Reporting Standards. Mikky has a number of bank loans, which are repayable if it breaches its covenants. The covenants are based on profit before tax and reported assets. A new accountant has recently started working at Mikky and has discovered some issues relating to the financial statements for the year ended 31 December 20X5. Mikky’s statement of financial position includes an intangible asset. This asset...
Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes...
Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended January 30, 2016, are available in Connect. This material is also available under the Investor Relations link at the company's website (www.target.com). Target's share-based compensation includes several long-term incentive plans. Required: 1. Over how many years is the compensation associated with Target's share-based awards expensed? 2. Based on the fair value of the awards, what was Target's primary form of...
Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes...
Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are - This material also is available under the Investor Relations link at the company's website. 1. On what line of Target's income statement is revenue reported? What was the amount of revenue Target reported for the fiscal year ended February 3, 2018? 2. Disclosure Note 2 indicates that Target generally records revenue in retail stores at...
Target Corporation prepares its financial statements according to U.S. GAAP. Target’s financial statements and disclosure notes...
Target Corporation prepares its financial statements according to U.S. GAAP. Target’s financial statements and disclosure notes for the year ended February 3, 2018, are available here (https://corporate.target.com/annual-reports/2017/10-K/10-k-cover). This material is also available under the Investor Relations link at the company’s website (www.target.com). Required: By what name does Target label its balance sheet? What amounts did Target report for the following items on February 3, 2018? What was Target’s largest current asset? What was its largest current liability? Compute Target’s current...
Company P prepares Financial Statements based on IFRS and Company S prepares Financial Statements based on...
Company P prepares Financial Statements based on IFRS and Company S prepares Financial Statements based on GAAP. How to ues their Financial Statements to make decisions and how to compare.
A firm which prepares its financial statements according to U.S. GAAP and uses a periodic inventory...
A firm which prepares its financial statements according to U.S. GAAP and uses a periodic inventory system had the following transactions during the year: Date Activity Tons(000s) $ per Ton Beginning inventory 1 500 February Purchase 8 540 May Sales 5 600 July Purchase 2 575 November Sales 3 620 The cost of sales (in '000s) is closest to: Select one: A. $4,390 using FIFO. B. $4,435 using LIFO. C. $4,342 using weighted average. D. $4,550 using FIFO. E. $4,280...
Target Case (Static) [LO6-2, 6-6, 6-7] Target Corporation prepares its financial statements according to U.S. GAAP....
Target Case (Static) [LO6-2, 6-6, 6-7] Target Corporation prepares its financial statements according to U.S. GAAP. Target’s financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material also is available under the Investor Relations link at the company’s website (www.target.com). Required: 1. On what line of Target’s income statement is revenue reported? What was the amount of revenue Target reported for the fiscal year ended February 3, 2018? 2. Disclosure Note 2 indicates...
Target Case (Static) [LO6-2, 6-6, 6-7] Target Corporation prepares its financial statements according to U.S. GAAP....
Target Case (Static) [LO6-2, 6-6, 6-7] Target Corporation prepares its financial statements according to U.S. GAAP. Target’s financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material also is available under the Investor Relations link at the company’s website (www.target.com). Required: 1. On what line of Target’s income statement is revenue reported? What was the amount of revenue Target reported for the fiscal year ended February 3, 2018? 2. Disclosure Note 2 indicates...
CASE ONE, KIKI CORPORATION Kiki Corporation, a US company, prepares its financial statements under US GAAP....
CASE ONE, KIKI CORPORATION Kiki Corporation, a US company, prepares its financial statements under US GAAP. For 2014, the company reported $1,000,000 income and stockholders’ equity balance of $8,000,000 on December 31, 2014. In preparation for a possible adoption of IFRS by the US companies, the management wishes to explore possible impacts of the move. You are engaged to prepare a reconciliation schedule to convert 2014 income as well as stockholders’ equity on December 31, 2014 from US GAAP basis...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT