ISSUES IN ACCOUNTING EDUCATION Vol. 22, No. 4 November 2007 pp. 685–708 China Eastern Airlines: People’s Republic of China Accounting Standards, International Financial Reporting Standards, or U.S. Generally Accepted Accounting Principles? John L. Haverty ABSTRACT: China Eastern Airlines, headquartered in the People’s Republic of China, has been listed and traded on the New York Stock Exchange since 1997. In its 2005 annual report, China Eastern Airlines presents two sets of financial statements:
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Entry Market: Japan | Japan has made concerted efforts to open its markets through deregulation and other measures to contribute to the | |well-balanced development of the global economy and enhance the quality of life of Japanese citizens. It has also sought to increase | |imports through the adoption of several promotional policies. Nevertheless, there is continued criticism abroad that Japanese official | |regulations and business practices are obstructing
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financial and operating data Letter from the Chairman Overview of the environment OUR BUSINESSES Major Strategic Goals Consolidated Companies Our Production Our Sales 4 6 8 12 16 20 22 28 FINANCIAL AND OPERATIONAL PERFORMANCE Management Discussion and Analysis on the results 34 Independent Auditor’s report 46 Consolidated Financial Statements 49 Supplement to the consolidated financial statement 55 1 10 Key Corporate Data SUSTAINABILIT y REPORT Main results and goals Protecting the Environment
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The Consolidated Financial Statements are prepared in accordance with Inter national Financial Reporting Standards (IFRS) as adopted by the European Union (EU), the supplementary requirements of German law pursuant to Section 315a (1) of the German Commercial Code (Handels esetzbuch) and full IFRS as g issued by the Inter ational Accounting n Standards Board (IASB). They give a true and fair view of the net assets, financial position and results of operations of the group in accordance
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Pollution Prevention in Corporate Strategy NATIONAL POLLUTION PREVENTION CENTER FOR HIGHER EDUCATION Case A: McDonald’s Environmental Strategy Susan Svoboda, manager of the University of Michigan Corporate Environmental Management Program (CEMP), prepared this case under the guidance of Stuart Hart, director of CEMP and assistant professor of Corporate Strategy and Organizational Behavior at the U-M School of Business Administration, as the basis for class discussion rather than to illustrate
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KNOWLEDGE. INNOVATION. INSIGHT. 2012 Annual Report THE SCIENCE OF RISK Company Profile Verisk Analytics (NASDAQ: VRSK) provides information about risk to professionals in many fields, including insurance, healthcare, financial services, supply chain, and others. Through its renowned ISO brand, the company has delivered data, analytics, and decision support services for the property/casualty insurance industry for more than 40 years. Using advanced technologies to collect, analyze, develop,
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Note: Attempt all the Question, All the questions carry equal marks, CASE 1 The Santek Images Business Unit Consolidated Products is a $21 billion company headquartered in Atlanta, Georgia. The company’s five business units, which offer a wide array of products and services, are the result of an aggressive strategy of mergers and acquisitions starting in the late 1980s. The corporate staff is surprisingly small, comprised of general management, legal staff, and human resources
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Marcel COSTULEANU University “Gr.T. Popa”, Iaşi mcostuleanu@yahoo.com Carmen CODREANU University “Petre Andrei”, Iaşi codrcarmen@yahoo.com Abstract. The statutory audit of business entities is represented by the audit of annual financial accounts or consolidated financial accounts, according to the Community legislation transposed in national regulations. Negligence or imprudence in performing the activities related to this type of audit entail special consequences. It is to some of the elements derived
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Chapter 5 Consolidated Financial Statements Intercompany Asset Transactions http://faculty.uml.edu/ccarter/AASC04.doc Answers to Questions 1. One reason for the significant volume and frequency of intercompany transfers is that many business combinations are specifically organized so that the companies can provide products for each other. This design is intended to benefit the business combination as a whole because of the economies provided by vertical integration. In effect, more
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Ballarat Ltd does not intend to purchase the bulldozer thus there would be no bargain purchase option. (NO) c) Length of lease 5 years divided 8 years of economic life of the bulldozer which will equal to 62.5%. Thus, based on the professional practice, an asset would classify as finance lease only when it greater than 75% of its economic life of the asset. (NO) d) The present value of the asset and the MLP of Ballarat Ltd lease payment to Monash Ltd is $8000x3.8897 (annuity factor) = $31118. While
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