Questions related to the Statement of Profit or Lossa. Revenue is the income generated from normal business operations. What is the business operation of Emirates (i.e. what do they do? Do they provide services or sell products? What is the service they provide or product they sell in order to generate revenues?).b. Did Emirates make profit in 2018 and 2017? Was there an increase or decrease? Justify your answers by providing the figures from the statement.c. Explain the Difference between Revenue and Other operating income – Provide one item that can be listed under Revenue and one item that can be listed under Other operating income of Emirates. You can refer to the corresponding Notes to the Financial Statements of Emirates..PLEASE MAKE SURE THE ANSWER IS CORRECT 100% 2. Statement of Financial positionNote2018201720182017AED mAEDAEDAEDmQUITY AND LIABLITESCapital and reserveCaptOther reerveaned eingsAttriutable to Emirates OwnerNon controlingYotaltyASSETSNon current assetsProperty, plant and equipmentIange aetsInvestments accounted for using the equitytod1185.951N01B01121.4961442915(141)13662845434.500592Advance lee reas145.005442137.046Loans and other receivatlesDerivative financial itumentsDefered income ta aet1517223835Non current lTrade and other payablesBorowingand eDeleeDelemred redDePovi6029111012391.41793.7222042,07140.171Current aetInventoresTrade and other receivables1063362.3728242126171135422244,067 ASDerivative financial itrumentsme tityShot term ban depostsCash and cash equvalents1474549.975S475Current eTrade and ther payalesome ta eswng eDeeredDeeed creDeriative24.301Tetal amets127,7181920279030LINOL48631364740544Total laes6.464Total ty and e127.The consolidated fanc tementsweroved on May 20 and vigned bySheh Amed bin Saeed AMaumTimothy ClarPesidentChaiman and Ohief EcutiveThe accompanying notes are an integral part of these consolidated financial statements Financial Reports1. Consolidated Income Statement - Refer to the Total Amount in both years to answerquestionsADADReenK25OerpngnoeOperating cosOperting profeFraoeFru eSad of nemeti acoeydISProft befure income texLANINonepeProft for the yearPot a encontoling meeProft abutable to Emiter OwnerLA200LIMhult fur te yLAnot be reclassfed t he olddi tReneasenent of retrenent beref ehem tat are or may be rdaiiCureny taaton en25www19LAMCa fow hednOther comprehenie inone for the yourTel comprehensive inone for the year19To comprehensire incone mbatie to non-corerolig iteetiTel comprehendive iom abletenites Oune

SOLUTION-A EMIRATES IS AN INTERNATIONAL AIRLINE COMPANY . IT IS AN AIR TRAVEL SERVICE PROVIDER . IT…

Answered: Questions related to the Statement of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Questions related to the Statement of Profit or Loss

a. Revenue is the income generated from normal business operations. What is the business operation of Emirates (i.e. what do they do? Do they provide services or sell products? What is the service they provide or product they sell in order to generate revenues?)

b. Did Emirates make profit in 2018 and 2017? Was there an increase or decrease? Justify your answers by providing the figures from the statement.

c. Explain the Difference between Revenue and Other operating income – Provide one item that can be listed under Revenue and one item that can be listed under Other operating income of Emirates. You can refer to the corresponding Notes to the Financial Statements of Emirates.

PLEASE MAKE SURE THE ANSWER IS CORRECT 100%

2. Statement of Financial position
Note
2018
2017
2018
2017
AED m
AED
AED
AEDm
QUITY AND LIABLITES
Capital and reserve
Capt
Other reerve
aned eings
Attriutable to Emirates Owner
Non controling
Yotalty
ASSETS
Non current assets
Property, plant and equipment
Iange aets
Investments accounted for using the equity
tod
11
85.951
N01
B01
12
1.496
144
29
15
(141)
13
662
8454
34.500
592
Advance lee reas
14
5.005
4421
37.046
Loans and other receivatles
Derivative financial ituments
Defered income ta aet
15
172
238
35
Non current l
Trade and other payables
Borowingand e
Delee
Delemred red
De
Povi
60
29
11
10
123
91.417
93.722
20
42,071
40.171
Current aet
Inventores
Trade and other receivables
1063
36
2.37
28
2421
26
17
11354
22
24
4,067 AS
Derivative financial itruments
me tity
Shot term ban deposts
Cash and cash equvalents
14745
49.975
S475
Current e
Trade and ther payales
ome ta es
wng e
Deered
Deeed cre
Deriative
24.301
Tetal amets
127,7
18
19
20
27
9030
LINO
L486
313
647
40544
Total laes
6.464
Total ty and e
127.
The consolidated fanc tementsweroved on May 20 and vigned by
Sheh Amed bin Saeed AMaum
Timothy Clar
Pesident
Chaiman and Ohief Ecutive
The accompanying notes are an integral part of these consolidated financial statements

Financial Reports
1. Consolidated Income Statement - Refer to the Total Amount in both years to answer
questions
AD
AD
Reen
K25
Oerpngnoe
Operating cos
Operting profe
Fraoe
Fru e
Sad of nemeti aco
eyd
IS
Proft befure income tex
LAN
INonepe
Proft for the year
Pot a encontoling mee
Proft abutable to Emiter Owner
LA
200
LIM
hult fur te y
LA
not be reclassfed t he olddi t
Reneasenent of retrenent beref e
hem tat are or may be rdaii
Cureny taaton en
25
www
19
LAM
Ca fow hedn
Other comprehenie inone for the your
Tel comprehensive inone for the year
19
To comprehensire incone mbatie to non-corerolig iteeti
Tel comprehendive iom abletenites Oune

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