Financial Accounting
Financial Accounting
15th Edition
ISBN: 9781337272124
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter MJ, Problem 1IFRS

IFRS Activity 1

Unilever Group is a global company that markets a wide variety of products, including Lever® soap, Breyer’s® ice cream, and Hellman’s® mayonnaise. A recent income statement and statement of comprehensive income for the Dutch company, Unilever Group, follow:

Chapter MJ, Problem 1IFRS, IFRS Activity 1
Unilever Group is a global company that markets a wide variety of products, , example  1

Chapter MJ, Problem 1IFRS, IFRS Activity 1
Unilever Group is a global company that markets a wide variety of products, , example  2

  1. a. What do you think is meant by “turnover”?
  2. b. How does Unilever’s income statement presentation differ significantly from that of Mornin’ Joe?
  3. c. How is the total for net finance costs presented differently from what typically would be found under U.S. GAAP?
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Activity Ratios Provide brief definition of what Activity ratios mean to the profitability of a company. What are the differences between Apple and Samsung in relationship to the ratios? See attached for ratios Total Asset Turnover Inventory Turnover Fixed Asset turnover Receivable Turnover     3. What does it mean to the company’s profitability? Is it good or bad?
_______________might be chosen by a company because it is easier to read. The single-step income statement The classification income statement The multiple-step income statement The business function income statement
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