U.S. GAAP had a new standard, effective for fiscal years beginning on or after December 15, 2008,

Question:

U.S. had a new standard, effective for fiscal years beginning on or after December 15, 2008, relating to the presentation of noncontrolling interest. Considering this standard, present the profit for the year presented in Exhibit 4-12, IFRS model .

Consolidated Income Statement
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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...