and future of your selected two companies.
●Past event
① Delta Air Lines, Inc. is one of the largest and most successful air carriers in the United States. Originally founded as a crop dusting service in 1924, Delta was led for 40 years by an agricultural scientist and pilot named Collet Everman Woolman. Expansion through acquisition characterized the era that follot
of Chartered Accountants of India, established in 1949
●Chartered accountants were previously known as registered accountants and the institute was preceded by other organizations of professional accountants, such as the Society of Auditors, founded in Madras in 1927.
<4. IFRS and India >
3. Need for IFRS
● Level of Confidence : The key benefit will be a common accounting system
I. Introduction
1. Purpose of the Project
The purpose of this our group was to analyze two similar hospitality companies by using tools learned in accounting class. Based on annual reports of two companies, our group members learned how the terms learned in class is actually used in the report. We hope to understand how certain variation affects accounting items and identify why certain does
balance sheets show that its debt ratio is high. The debt ratio was 0.925 in 2010, 0.896 in 2009, and 0.995 in 2008. Most of its liabilities are short-run debt. This short-run debt seems to be used in investing activities. According to cash flow statements from 2003 to 2010, most cash was used in investing activities. In 2010, for example, net cash flow provided by operating activities and financ
of critical words, such as net realizable value, correspond with the definitions provided by IFRS.
-Provisions and contingencies.
Provisions are recognized at the present value ofcash flows that are expected to occur to accomplish current obligations. Increase in provisions will be reflected on the profit of the year as finance cost. The company check the balance of provisions every reportin