Balance sheet format terminology and accounting methods Exhibit 3.3 presents the balance sheet of Cathay Pacific Airways Limited (Cathay Pacific), the Hong Kong airline, for the years ended December 31, 2007 and 2006. This balance sheet uses the terminology, format, and accounting methods of Hong Kong Financial Reporting Standards (HKFRS). Cathay reports results in millions of Hong Kong dollars (HKD).

a. Prepare a balance sheet for Cathay Pacific on December 31, 2007, and December 31, 2006, following the format and terminology commonly used by firms that apply U.S. GAAP

b. Prepare a balance sheet for Cathay Pacific on December 31, 2007, and December 31, 2006, following the format and terminology commonly used by firms that apply IF RS.

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Cathay Pacific Airways Limited Balance Sheets (amounts in millions of HK dollars (HKD)) (Problem 29) EXHIBIT 3.3 Year ended December 31, 2007 2006 ASSETS AND LIABILITIES Noncurrent Assets and Liabitities Fixed Assets HKD 62,388 HKD 57,602 Intangible Assats. 7,782 7,749 Investments in Associates 10,054 8,826 Other Long-Term Receivables and Investments 3,519 3,406 HKD 77,583 HKD 83,743 Long-Term Liabilities Related Pledged Security Deposits Net Long-Term Liabilities Retirement Benefit Obligations HKD(33,956) HKD(40,323) 8,164 7,833 (25,792) (32,490) (268) (170) (6,508) HKD(32,470) HKD 45,113 Deferred Taxation . (6,771) HKD(39,529) HKD 44,214 Net Noncurent Assets. Current Assets and Liabilities Stock. HKD HKD 882 789 Trade and Other Receivables. Liquid Funds. 11,376 8,735 21,649 HKD 33,907 HKD (4,788) 15,624 HKD 25,148 Current Portion of Long-Term Liabilities Related Pledged Security Deposits Net Current Portion of Long-Term Liabilities Trade and Other Payables ...... HKD (7,503) 1,352 910 (6,151) (10,999) (4,671) (2,902) HKD(24,723) (3,878) (14,787) (6,254) (2,475) НкD/27,394) HKD 6,513 Uneamed Transportation Revenue Taxation Net Current Assets HKD 425 HKD 50,727 Net Assets HKD 45,538 CAPITAL AND RESERVES Share Capital.. HKD HKD 788 787 Reserves 49,761 HKD 50,549 44,599 Funds Attributable to Cathay Pacific Shareholders Minority Interests Total Equity.. HKD 45,386 НKD HKD 178 152 HKD 50,727 HKD 45.538