Questions related to the Statement of Financial position: What is the most liquid Asset account for Emirates in 2018? State the account name and respective.Calculate the Current Ratio for the year 2018. PLEASE MAKE SURE THE ANSWER IS CORRECT 100% Consolidated Statement of Financial Positionas at 31 March 2018Note20182017Note20182017AED mAED mAED mAED mASSETSEQUITY AND LIABILITIESCapital and reservesCapitalOther reservesRetained earningsAttributable to Emirates' OwnerNon-controlling interestsTotal equityNon-current assetsProperty, plant and equipmentIntangible assetsInvestments accounted for using the equitymethod1185,95186,89818801801121,49614411915(141)33.84834,508S8635,6381366267636,454592Advance lease rentals145,0654,42137,04635,094Loans and other receivables15172238Derivative financial instruments356038Non-current liabilitiesDeferred income tax asset291110Trade and other payablesBorrowings and lease liabilitiesDeferred revenue3012368393,41793,7222042.07140.171Current assets271063979Inventories162,3872,238Deferred credits282,6212227Derivative financial instruments3526192Trade and other receivables1711,3549,922Provisions244,0673.825Derivative financial instruments359.8Deferred income tax lability29Short term bank deposits3314,7456,70649,97548,082Cash and cash equivalents335,6758.962Current liabilities34,17027,836Trade and other payablesIncome tax labilitiesBorrowings and lease liabilitiesDeferred revenue3029.30325,193Total assets127,587121,5581819209,03010,8312711801,486Deferred credits28313253Derivative financial instruments35353Provisions2468759740,56638,382Total liabilitiesTotal equity and liabilities90,54186,464127,587121,558The consolidated financial statements were approved on 3 May 2018 and signed by:Thunthy CleSheikh Ahmed bin Saeed Al-MaktoumTimothy ClarkPresidentChairman and Chief ExecutiveThe accompanying notes are an integral part of these consolidated financial statements. Consolidated Income Statementfor the year ended 31 March 2018Note20182017AEDmAEDmRevenue91.22583.832Other operating income10971251Operating costs(8.236(82,648)Operating profit4,0862435Finance income375281Finance costs(1.383)Share of results of investments accounted for using the equity method13155157Profit before income tax3,0231490Income tax experse(44(40)Profit for the year2,9791450Profit attributable to non-controling interests183200Profit attributable to Emirates' Owner2,7561250Consolidated Statement of Comprehensive Incomefor the year ended 31 March 2018Profit for the year2,5791,450bems that will not be reclassified to the consolidated income statementRemeasurement of retirement benefit obligations25311bems that are or may be redassified subsequently to the consolidated income statementCumency translation diferences19Cash fow hedges191551038Other comprehensive income for the year1501,349Total comprehensive income for the year3,1292,799Total comprehensive income attributable to non-controlling interests183200Total comprehensive income attributable to Emirates' Owner2,9462,599

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Description: Questions related to the Statement of Financial position: What is the most liquid Asset account for Emirates in 2018? State the account name and respective.Calculate the Current Ratio for the year 2018. PLEASE MAKE SURE THE ANSWER IS CORRECT 100% Con

The current ratio is calculated as current assets divided by current liabilities.

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FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Questions related to the Statement of Financial position:

What is the most liquid Asset account for Emirates in 2018? State the account name and respective.
Calculate the Current Ratio for the year 2018.

PLEASE MAKE SURE THE ANSWER IS CORRECT 100%

Consolidated Statement of Financial Position
as at 31 March 2018
Note
2018
2017
Note
2018
2017
AED m
AED m
AED m
AED m
ASSETS
EQUITY AND LIABILITIES
Capital and reserves
Capital
Other reserves
Retained earnings
Attributable to Emirates' Owner
Non-controlling interests
Total equity
Non-current assets
Property, plant and equipment
Intangible assets
Investments accounted for using the equity
method
11
85,951
86,898
18
801
801
12
1,496
1441
19
15
(141)
33.848
34,508
S86
35,638
13
662
676
36,454
592
Advance lease rentals
14
5,065
4,421
37,046
35,094
Loans and other receivables
15
172
238
Derivative financial instruments
35
60
38
Non-current liabilities
Deferred income tax asset
29
11
10
Trade and other payables
Borrowings and lease liabilities
Deferred revenue
30
123
683
93,417
93,722
20
42.071
40.171
Current assets
27
1063
979
Inventories
16
2,387
2,238
Deferred credits
28
2,621
2227
Derivative financial instruments
35
26
192
Trade and other receivables
17
11,354
9,922
Provisions
24
4,067
3.825
Derivative financial instruments
35
9.
8
Deferred income tax lability
29
Short term bank deposits
33
14,745
6,706
49,975
48,082
Cash and cash equivalents
33
5,675
8.962
Current liabilities
34,170
27,836
Trade and other payables
Income tax labilities
Borrowings and lease liabilities
Deferred revenue
30
29.303
25,193
Total assets
127,587
121,558
18
19
20
9,030
10,831
27
1180
1,486
Deferred credits
28
313
253
Derivative financial instruments
35
35
3
Provisions
24
687
597
40,566
38,382
Total liabilities
Total equity and liabilities
90,541
86,464
127,587
121,558
The consolidated financial statements were approved on 3 May 2018 and signed by:
Thunthy Cle
Sheikh Ahmed bin Saeed Al-Maktoum
Timothy Clark
President
Chairman and Chief Executive
The accompanying notes are an integral part of these consolidated financial statements.

Consolidated Income Statement
for the year ended 31 March 2018
Note
2018
2017
AEDm
AEDm
Revenue
91.225
83.832
Other operating income
1097
1251
Operating costs
(8.236
(82,648)
Operating profit
4,086
2435
Finance income
375
281
Finance costs
(1.383)
Share of results of investments accounted for using the equity method
13
155
157
Profit before income tax
3,023
1490
Income tax experse
(44
(40)
Profit for the year
2,979
1450
Profit attributable to non-controling interests
183
200
Profit attributable to Emirates' Owner
2,756
1250
Consolidated Statement of Comprehensive Income
for the year ended 31 March 2018
Profit for the year
2,579
1,450
bems that will not be reclassified to the consolidated income statement
Remeasurement of retirement benefit obligations
25
311
bems that are or may be redassified subsequently to the consolidated income statement
Cumency translation diferences
19
Cash fow hedges
19
155
1038
Other comprehensive income for the year
150
1,349
Total comprehensive income for the year
3,129
2,799
Total comprehensive income attributable to non-controlling interests
183
200
Total comprehensive income attributable to Emirates' Owner
2,946
2,599

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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What is the most liquid Asset account for Emirates in 2018? State the account name and respective. Calculate the Current Ratio for the year 2018. PLEASE MAKE SURE THE ANSWER IS CORRECT 100%

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