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


Selected financial information for Oratel S.A.E. (Oratel), an Egyptian telecommunications


Compute the missing amounts for each of the twoyears.

GAAP
Generally 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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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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