Chapter 2, Problem 22E

To determine

Concept Introduction

Balance sheet: Balance sheet is a financial statement that shows the types of assets, liabilities, and owner’s equity and their respective amounts as on a specific date. It reports on the entity’s financial position as of a specific date. The amount of total assets is equal to the amount of total liabilities ** owner’s equity as shown in the entity’s balance sheet as on a specific date.

International Financial Reporting Standards (IFRS): International Financial Reporting Standards (IFRS) are a set of international accounting standards that are issued by the International Accounting Standards Board (IASB). IFRS standards state how financial reporting should be done by a company.

To Prepare: The balance sheet for Heineken N. V. as of December 31, 2013, by following the usual IFRS format.