GlaxoSmithKline Plc. (GSK) is a global pharmaceutical and consumer health-related products company located in the United Kingdom. The company prepares its financial statements in accordance with International Financial Reporting Standards. Below is a portion of the company's statements of cash flows included in recent financial statements:

1. Identify the items in the above statements that would be reported differently if GlaxoSmithKline prepared its financial statements according to U.S. GAAP rather than IFRS.
2. GSK's financial statements included income statements and separate statements of comprehensive income that reported its other comprehensive income items for the periods. What other options did the company have for reporting its other comprehensive income items? What options do companies have for the presentation of other comprehensive income items using U.S. GAAP?

  • CreatedJune 24, 2013
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