British Airways Case

Group A WS3 British Airways Case Clarence Allen, Beverly Baldazo, Bobby Cates, Robert Daniel, Brittany Osullivan indium Methodist University Core Group BSA068 ACC-312 Interm Financial Accounting II Jennifer Gaddy: Instructor December 1, 2011 We confine read and to a subvert placestand the plagiarism policy as defined in the curriculum and the sections in the Student Bulletin relating to the IWU veracity/Cheating Policy. By affixing this statement to the title page of my paper, we present that we have not cheated or plagiarized in the surgical process of complete this assignment. If it is found that cheating and/or plagiarism did fuck off place in the writing of this paper, we infrastand the possible consequences of the tame/s, which could include expulsion from Indiana Wesleyan University Requirement 1 Per flavor 2, this is an unearned revenue account, and treated as a period liability. This treatment is consistent with U.S. generally accepted account statement principles, as it captures circumstances where BA has interchange a rag but not yet delivered it. Per subscriber line 26, BA has £769 million of sales in advance of coach-and-four as of March 31, 2009. Requirement 2 Under both U.S. generally accepted accounting principles and IFRS, liabilities associated with a past event are recorded when the debt peter is probable and the substance of the obligation can be faithfully estimated.

However, IFRS defines probable as more likely than not, which is a press down threshold than is typically applied under U.S. GAAP, so BA is more l ikely to recognize a liability under IFRS th! an it would under U.S. GAAP. Also, under IFRS BA is more likely to fade notice the liability (recording it at present value) than it would under U.S. GAAP, so, given that a liability is recognized, the amount of liability that is recognized may be lower under IFRS than under U.S. GAAP. Per note 30, the agree amount of provisions for liabilities and charges increased from £380 million to £438 million everywhere the contour of fiscal 2009. Requirement 3 Under IFRS, contingent upon(p) liabilities are...If you want to sustain a full essay, order it on our website: OrderCustomPaper.com

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