Delta Airlines Air France–KLM A3. Refer to the balance sheet and compare it to your U.S. airline’s financial statements. a. What differences do you see in the format of the two balance sheets? b. What differences do you see in the terminology used in the two balance sheets? c. Describe the apparent differences in the order of presentation of the components of the balance sheet between IFRS as applied by your airline and a typical balance sheet prepared in accordance with U.S. GAAP.
Delta Airlines Air France–KLM A3. Refer to the balance sheet and compare it to your U.S. airline’s financial statements. a. What differences do you see in the format of the two balance sheets? b. What differences do you see in the terminology used in the two balance sheets? c. Describe the apparent differences in the order of presentation of the components of the balance sheet between IFRS as applied by your airline and a typical balance sheet prepared in accordance with U.S. GAAP.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Delta Airlines Air France–KLM
A3. Refer to the balance sheet and compare it to your U.S. airline’s financial statements. a. What differences do you see in the format of the two balance sheets? b. What differences do you see in the terminology used in the two balance sheets? c. Describe the apparent differences in the order of presentation of the components of the balance sheet between IFRS as applied by your airline and a typical balance sheet prepared in accordance with U.S. GAAP.
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