Statements of Changes in Equity IFRS requires statements of changes in shareholders equity. PE GAAP only requires
Question:
Instructions
(a). Discuss why these differences occur.
(b). Review the statement of changes of Lufthansa AG (available at www.lufthansa.com) for the year ended December 31, 2009. (1) Explain the various components that are reconciled in the statement of changes. (2) Comment on why users might find the statement of changes in equity more useful than a statement of retained earnings. (3) Which of these components found on Lufthansa’s statement for changes in equity would be similar to a private enterprise?
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...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
Question Posted: