MODULE 1

Module 1 - Case Introduction to Financial Accounting

Module 1 - Case Introduction to Financial Accounting

Abercrombie And Fitch

The company adopts General Accepted Accounting Principles (GAAP) as adopted by American Companies. Company expenses all subsequent replacements and adjusts the initial balance, as appropriate, for changes in store quantities or replacement cost. The Company believes athis apolicy aapproximates athe aexpense athat awould ahave abeen arecognized aunder aaccounting aprinciples agenerally aaccepted ain athe aUnited aStates aof aAmerica.

HENNES & MAURITZ

The aGroup aapplies athe aInternational aFinancial aReporting aStandards a(IFRS) aas aadopted aby athe aEU. aThe arecent areport ahas abeen aprepared aaccording ato ...