| Cash Flow Statement |
| Fiat Crysler Automobile Company |
| For Year ended December 31, 2016 |
| (in € million) |
|
|
| |
|
|
| Cash flows from operating activities: |
|
|
| Net profit from continuing operations |
|
€ 1,814 |
| Amortization and depreciation |
€ 5,956 |
|
| Net losses on disposal of tangible and intangible assets |
13 |
|
| Net gains on disposal of investments |
(13) |
|
| Other non-cash items |
111 |
|
| Dividends received |
123 |
|
| Change in provisions |
1,519 |
|
| Change in deferred taxes |
389 |
|
| Change due to assets sold with buy-back commitments and GDP vehicles |
(95) |
|
| Change in inventories |
(471) |
|
| Change in trade receivables |
177 |
|
| Change in trade payables |
776 |
|
| Change in other payables and receivables |
295 |
8,780 |
| Net cash provided by operating activities |
|
10,594 |
| Cash flows used in investing activities: |
|
|
| Investments in property, plant and equipment and intangible assets |
(8,815) |
|
| Investments in joint ventures, associates and unconsolidated subsidiaries |
(116) |
|
| Proceeds from the sale of tangible and intangible assets |
36 |
|
| Proceeds from disposal of other investments |
55 |
|
| Net change in receivables from financing activities |
(483) |
|
| Change in securities |
299 |
|
| Other changes |
(15) |
|
| Net cash used in investing activities |
|
(9,039) |
| Cash flows (used in) /from financing activities: |
|
|
| Issuance of notes |
1,250 |
|
| Repayment of notes |
(2,373) |
|
| Proceeds of other long-term debt |
1,342 |
|
| Repayment of other long-term debt |
(4,618) |
|
| Net change in short-term debt and other financial assets/liabilities |
(591) |
|
| Distributions paid |
(18) |
|
| Other changes |
(119) |
|
| Net cash provided by financing activities |
|
(5,127) |
| Translation exchange differences |
|
228 |
| Total change in Cash and cash equivalents |
|
(3,344) |
| Cash and cash equivalents at beginning of the period |
|
20,662 |
| Cash and cash equivalents at end of the period |
|
€ 17,318 |
| Cash Flow Statement |
| General Motors Company |
| For Year ended December 31, 2016 |
| (In millions) |
|
|
| |
|
|
| Cash flows from operating activities |
|
|
| Net income |
|
$ 9,268 |
| Depreciation, amortization and impairment charges |
$ 10,408 |
|
| Foreign currency remeasurement and transaction losses |
358 |
|
| Undistributed earnings of nonconsolidated affiliates, net |
(15) |
|
| Pension contributions and OPEB payments |
(3,465) |
|
| Pension and OPEB (income) expense, net |
(553) |
|
| Provision (benefit) for deferred taxes |
1,886 |
|
| Change in other operating assets and liabilities (Note 24) |
(438) |
|
| Other operating activities |
(904) |
7,277 |
| Net cash provided by operating activities |
|
16,545 |
| Cash flows from investing activities |
|
|
| Expenditures for property |
(9,542) |
|
| Available-for-sale marketable securities, acquisitions |
(15,182) |
|
| Trading marketable securities, acquisitions |
(262) |
|
| Available-for-sale marketable securities, liquidations |
10,871 |
|
| Trading marketable securities, liquidations |
872 |
|
| Acquisition of companies/investments, net of cash acquired |
(809) |
|
| Purchases of finance receivables, net |
(17,869) |
|
| Principal collections and recoveries on finance receivables |
13,172 |
|
| Purchases of leased vehicles, net |
(19,624) |
|
| Proceeds from termination of leased vehicles |
2,557 |
|
| Other investing activities |
173 |
|
| Net cash used in investing activities |
|
(35,643) |
| Cash flows from financing activities |
|
|
| Net increase in short-term debt |
798 |
|
| Proceeds from issuance of debt (original maturities greater than three months) |
45,141 |
|
| Payments on debt (original maturities greater than three months) |
(23,815) |
|
| Payments to purchase stock |
(2,500) |
|
| Dividends paid (including charge related to redemption of Series A Preferred Stock) |
(2,368) |
|
| Other financing activities |
(117) |
|
| Net cash provided by financing activities |
|
17,139 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
(213) |
| Net decrease in cash, cash equivalents and restricted cash |
|
(2,172) |
| Cash, cash equivalents and restricted cash at beginning of period |
|
17,332 |
| Cash, cash equivalents and restricted cash at end of period |
|
$ 15,160 |
GM uses GAAP
FCA uses IFRS
1. Read the above audited cash flow statments and discuss similarities or differences between GAAP and IFRS.
For each difference, address the following:
A. Refer to specific IFRS and U.S. GAAP accounting literature for the underlying transaction,
B. Explain that they are similar, and why, OR that there is a difference, and why.
C. Analyze the similarity or difference, both qualitatively and quantitatively
D. Discuss any differences found may affect various users of the financial statements.
E. For those items for which you find a difference, opine on which approach you prefer and support that opinion.
F. Note: The goal is to find differences - so do not seek items of similarity and make your
report simpler. You must find at least three of the five items to be different either quantitatively or qualitatively different. Overall five items must be addressed to receive maximum points.
2. Document the results of your work in a report, including assumptions made and why those assumptions are reasonable.
3. The concept of sustainability is now prevalent in reports of global companies. Please identify whether your companies address sustainability in their annual report, and if so, have they addressed the "triple bottom line" which encompasses 1) economic viability, 2) social responsibility and 3) environmental responsibility. (AICPA Sustainability Accounting and Reporting FAQs)
All reports must meet the APA General Guidelines, as well as the APA rules for citation. An introduction and conclusion must be included in your reports, even if you "conclude" on each difference, and overall conclusion for the group must be a part of the report
Attachment:- GAAP VS IFRS.xlsx