Selected financial information for Oratel S.A.E. (Oratel), an Egyptian telecommunications firm, is shown in the following display
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Selected financial information for Oratel S.A.E. (Oratel), an Egyptian telecommunications firm, is shown in the following display for the years ended December 31, Year 13 and Year 12. Oratel applies Egyptian accounting standards and reports its results in thousands of Egyptian pounds (£). In answering this question, assume that Oratel uses either U.S. GAAP or IFRS; for the purposes of this problem, this choice will not matter.
Oratel S.A.E.
Balance Sheet and Income Statement Data
December 31, Year 13 and Year 12
Compute the missing amounts for each of the twoyears.
GAAPGenerally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
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Related Book For
Financial Accounting An Introduction to Concepts, Methods and Uses
ISBN: 978-1133591023
14th edition
Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis
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