Refer to the AMR Corporation financial statement information contained in
Refer to the AMR Corporation financial statement information contained in C12-1.

Required:
1. Explain how the financial statements and disclosures would change if AMR were using IAS 17 instead of FASB ASC 840. Be as specific as possible.
2. Explain how the financial statements and disclosures would change if AMR were using the FASB proposed accounting standards update for leases instead of FASB ASC 840. Be as specific as possible.

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