Airbus SE, previously known as European Aeronautic Defence and Space Company or EADS NV, is incorporated in

Question:

Airbus SE, previously known as European Aeronautic Defence and Space Company or EADS NV, is incorporated in the Netherlands and its shares are traded in France, Germany, and Spain. Access the financial statements of Airbus SE for its year ended December 31, 2017, from the company’s website (www.airbus.com/investors/financial-results-and-annual-reports.html).

Instructions
Answer the following questions with respect to Airbus SE.

a. What business is Airbus in?

b. Explain how the revenue related to construction contracts is recorded. How does the company determine when revenue should be recognized on these contracts?

c. What are the balance sheet amounts related to this revenue recognition? What was the aggregated amount of costs and profits recognized to December 31, 2017? What was the gross amount due from customers and due to customers at December 31, 2017? What do these amounts represent?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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