The adapted balance sheets of two airlines from their 2013 annual reports are shown below. WestJet Airlines Ltd. is a Canadian corporation. British Airways Plc is a British airline. Both businesses follow IFRS. Review each balance sheet and describe at least three differences in their presentation.

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WestJet Airlines Ltd (thousands of Canadian dollars) Assets Current assets Cash and cash equivalents Restricted cash Accounts receivable 1,256,005 58,106 42,164 133,263 Liabilities and shareholders' equity Current liabilities Accounts payable Advance ticket sales Non-refundable guest credits Current portion of maintenance 543,167 551,022 46,975 76,105 Prepaid expenses provisions 36,722 1,526,260 Current portion of long-term debt 189,191 1,406,460 Inventory Non-current assets Property and equipment Intangible assets Other assets Total assets Non-current liabilities ,487,734 Maintenance provisions 142,411 689,204 315,548 2,553,623 58,691 Long-term debt 70,778 Other liabilities (incl. deferred tax) 4,143,463 Total liabilities Shareholders' equity Share capital (incl. reserves) Retained earnings Total shareholders' equity Total liabilities and 673,045 916 1,589,840 4,143,463 shareholders' equity British Airways Plc (millions of pounds) Non-current assets Property, plant, & equipment Fleet Property Equipment Shareholders' equity Issued share capital 290 1, 512 453 2,255 200 2,455 6,456 Share premium 816 Other reserves 215 Total shareholders' equity 7,487 Non-controlling interest Intangibles Total equity Goodwill Landing rights Emissions allowances Software 40 Non-current liabilities Interest-bearing long-term 668 3,453 borrowings 26 Employee benefit obligations 147 Provisions for deferred tax 881 Other provisions 115 619 185 Derivative financial Investments in associates Available-for-sale 39 Other long-term liabilities 127 financial assets Employee benefit assets Other non-current assets 407 Total non-current liabilities 4,839 67 Current liabilities 8.996 Current portion of long-term Total non-current assets 365 borrowings Non-current assets held 10 Trade and other payables 4,073 for sale Current assets and Derivative financial 51 receivables Inventories Trade receivables Other current assets Derivative financial instruments 110 Current tax payable 533 Short-term provisions 338 Total current liabilities 137 4,627 11,921 84 Total equity and liabilities instruments Other current interest- 1,220 bearing deposits Cash and cash 630 equivalents Total current assets and receivables Total assets 2,915 11,921