The financial statements of Louis Vuitton are presented in Appendix F. The complete annual report, including the

Question:

The financial statements of Louis Vuitton are presented in Appendix F. The complete annual report, including the notes to its financial statements, is available at the company's website.

Instructions

Use the company’s annual report to answer the following questions.

a. In which section (operating, investing, or financing) does Louis Vuitton report interest paid (finance costs)?

b. In which section (operating, investing, or financing) does Louis Vuitton report dividends received?

c. If Louis Vuitton reported under GAAP rather than IFRS, how would its treatment of bank overdrafts diff er?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... 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...