Aer Lingus is an international airline based in Ireland. Exhibit 3.28 provides the statement of cash flows
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a. Based on information in the statement of cash flows, compare and contrast the cash flows for 2007 with 2008. Explain significant differences in individual reconciling items and direct cash flows.
b. The format of Aer Lingus’ statement of cash flows is the direct method, as evidenced by the straightforward titles used in the operating section (for example, “Interest paid”). How is this statement different from the presentation that Aer Lingus would report using the indirect method?
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Financial reporting, financial statement analysis and valuation a strategic perspective
ISBN: 978-0324789416
7th Edition
Authors: James M Wahlen, Stephen P Baginskl, Mark T Bradshaw
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