Question
Hello, I need help as I do not understand how to convert the following to a U.S. GAAP basis (is this a formula?) Jaguar Land
Hello, I need help as I do not understand how to convert the following to a U.S. GAAP basis (is this a formula?)
Jaguar Land Rover PLC case study:
The table below contains metrics as reported in JLR's three primary financial statements.
Convert these metrics to a U.S. GAAP basis.
Where necessary assume that JLR's tax rate is 21.1 percent
As Reported (IFRS) ( millions) U.S. GAAP
Profit before tax 1,610 ?
Net profit (after tax) 1,272
Total assets 10,962
Shareholders' equity 6,581
Operating cash flow 3,160
Capital expenditures* 3,056
(*Expenditures for both PPE and intangibles.)
Thanks so much!
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