Air France Case Question

Assignment Requirements

 

Please answer the following the questions based on the attached document.

Air France Questions

Question set 1:
1. Compare GAAP and IFRS – how do you account for a capital lease? In which note did you find the answer for AF?
2. Per note 30, what is AF’s capital lease obligation? How much is current vs non-current?
3. Per note 33, what is AF’s operating lease obligation?

Questions set 2:
1. Where does AF report deferred taxes? Are they separated into more than one area of the balance sheet? How is this different under GAAP.

Questions set 3:
1. Under IAS No. 19, how is prior service cost recorded? How is this different than GAAP?
2. What actuarial assumptions were used to compute AF’s pension obligation? In what note did you find this answer?

Questions set 4:
1. What are the 4 items listed in AF’s shareholders’ equity? What is their GAAP equivalency?
2. What 6 items are listed under AF’s “Reserves and Retained Earnings”? In which Balance Sheet account would these be found under GAAP?

Questions set 5:
1. Are AF’s stock options cliff vesting or graded vesting? In what note did you find this answer? How do IFRS and GAAP differ for graded vesting plans?

Air France Questions

Chapter 15

1. Compare GAAP and IFRS – how do you account for a capital lease? In which note did you find the answer for AF?
2. Per note 30, what is AF’s capital lease obligation? How much is current vs non-current?
3. Per note 33, what is AF’s operating lease obligation?

Chapter 16

1. Where does AF report deferred taxes? Are they separated into more than one area of the balance sheet? How is this different under GAAP.

Chapter 17

1. Under IAS No. 19, how is prior service cost recorded? How is this different than GAAP?
2. What actuarial assumptions were used to compute AF’s pension obligation? In what note did you find this answer?

Chapter 18

1. What are the 4 items listed in AF’s shareholders’ equity? What is their GAAP equivalency?
2. What 6 items are listed under AF’s “Reserves and Retained Earnings”? In which Balance Sheet account would these be found under GAAP?

Chapter 19

1. Are AF’s stock options cliff vesting or graded vesting? In what note did you find this answer? How do IFRS and GAAP differ for graded vesting plans?

 

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