IFRS Balance Sheet
Air France reports the following balance sheet for the year ended March 31, 2007.
Required:
- In what order are assets listed on the balance sheet?
- Comment on other differences (IFRS relative to U.S. GAAP) that you might notice on the balance sheet.
- What is the current ratio for the years ending March 31, 2006 and 2007?
- What is the ratio of long-term debt to equity for the years ending March 31, 2006 and 2007?
- Are there any typical balance sheet ratios that cannot be readily computed using the IFRS-based financial statement? If so, what are they?