If you need the link to the statement here it is httpwwwairf

If you need the link to the statement, here it is http://www.airfranceklm.com/sites/default/files/communiques/consolidated_financial_statements_2015.pdf hope you can help me!!!

Air France-KLM Case 017-12 @IFRS Air France-KLM (AF). a Franco-Dutch company, prepares its financial statements according to International Financial Reporting Standards. AF\'s financial statements and disclosure notes for the year ended December 31, 2015, are available in Connect. This material also is available under the Finance link at the company\'s website (www.airfranceklm- finance.com) Required: 1. AF reported past service cost (called prior service cost under U.S. GAAP) in its income statement as part of net periodic pension cost. Is that reporting method the same or different from the way we report prior service cost under U.S. GAAP? 2. Look at note 31.2, \"Retirement Benefits.\" AF incorporates estimates regarding staff turnover, life expectancy, salary increase, retirement age, and discount rates. How did AF report changes in these assumptions? Is that reporting method the same or different from the way we report changes under U.S. GAAP? 3. AF does not report remeasurement gains and losses in its income statement. Where did AF report these amounts? Is that reporting method the same or different from the way we report pension expense under U.S. GAAP? 4. See Note 23. Did AF report net interest cost or net interest income in 2015? How is that amount determined?

Solution

1)-NO IT IS DIFFERENT FROM THE US GAAP PROCEDURE.BECAUSE IN US GAAP WE BASICALLY AMORTISE THE PRIOR SERVICE COST OVER IT\'S USEFULE LIFE UNLIKE IFRS WHERE IT IS CHARGED TO THE PROFIT AND LOSS ACCOUNT.