The financial statements of Louis Vuitton are presented in Appendix F. The complete consolidated financial statements, including
Question:
The financial statements of Louis Vuitton are presented in Appendix F. The complete consolidated financial statements, including the notes to its financial statements, are available at the company's website.
Instructions.
Using the notes to the company's 2019 consolidated financial statements, what are Louis Vuitton's accounting policies related to cash and cash equivalents?
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(EUR millions, except for earnings per share) Revenue Cost of sales Gross margin Marketing and selling expenses General and administrative expenses Income/(loss) from joint ventures and associates Profit from recurring operations Other operating income and expenses Operating profit Cost of net financial debt Interest on lease liabilities Other financial income and expenses Net financial income/(expense) Income taxes Consolidated Income Statement Net profit before minority interests Minority interests Net profit, Group share Basic Group share of net earnings per share (EUR) Number of shares on which the calculation is based Diluted Group share of net earnings per share (EUR) Number of shares on which the calculation is based Notes 24-25 8 24-25 26 27 28 18 29 29 2019 53,670 (18,123) 35,547 (20,207) (3,864) 28 11,504 (231) 11,273 (107) (290) (162) (559) (2,932) 7,782 (611) 7,171 14.25 503,218,851 14.23 503,839,542 2018(a) 46,826 (15,625) 31,201 (17,755) (3,466) 23 10,003 (126) 9,877 (117) (271) (388) (2,499) 6,990 (636) 6,354 12.64 502,825,461 12.61 503,918,140 2017(a) 42,636 (14,783) 27,853 (16,395) (3,162) (3) 8,293 (180) 8,113 (137) - 78 (59) (2,214) 5,840 (475) 5,365 10.68 502,412,694 10.64 504,010,291
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Note in 119 in Louis Vuittons annual report states cash and cash equivalents comprise ca...View the full answer
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Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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