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Financial Reporting under
IFRS and US GAAP
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| | University of Economics in Prague|
| | Financial Reporting under IFRS and US GAAP|
Property, Plant and Equipment
Content

Introduction - The companies2
Specific Questions5
Sources19

Introduction - The companies
AUTOMOTIVE INDUSTRY
GENERAL MOTORS as representative of U.S. GAAP
General Motors from the U.S. Detroit is, together with Toyota, the largest car manufacturer in the world. The company was established in 1908 by William C. Durant and Charles Stewart Mott, and then after its bankruptcy again in 2010 - November 18. It scored the infamous record as the third largest bankruptcy in the U.S., and the largest carmaker bankruptcy in history. Following the restructuring of GM is the majority owner the United States government, which has invested in saving the automaker 50 billion $. GM is now again #1 in total vehicle sales in the world's two largest auto markets, China and the U.S., and well positioned in fast-growing emerging markets like Brazil, Russia and India. GM returned to the first place with 9.025 million units sold worldwide, corresponding to 11.9% market share of the global motor vehicle industry in 2011. General Motors’ dynamic brands offer a comprehensive range of vehicles in more than 150 countries around the world: Chevrolet, Buick, GMC, Cadillac, Baojun, Opel etc.

Revenue| 150.28 billion $|
Employees| 202 000 in 158 facilities around 6 continents, 21 000 dealers| Equity| 38.99 billion $|

HYUNDAI as representative of IFRS
Hyundai belongs to the world famous car manufacturer, but it was founded by Chung Ju-yung as s construction company in 1947. As a car manufacturer it was established in 1967. In 2011 Hyundai reached 5, 35% market share of the global industry with 4 059 438 cars sold worldwide. Hyundai is ranking 61st among the world’s top 100 brands. Vehicles are sold in 193 countries. Company ´s goal is not to be the worlds’ biggest automaker, but to be the worlds’ most-loved automaker. The new corporate philosophy focuses on the 5 core values: customer, challenge, collaboration, people and globalism.

Revenue| 70.226 billion $|
Employees| 75 000, 6 000 dealers| Equity| 32.224 billion $|
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RETAILING INDUSTRY
SAFEWAY as representative of U.S. GAAP
Safeway is a retail company which is placed in North America on the second rank as largest supermarket chain and produces in 17 countries. This company was established in 1912 by Sam Seelig in Los Angeles. Its stores are located mainly in the central United States and western Canada. Its headquarter is in California. In 2011 its position measured by estimated sales was in Top 75 North American Food Retailers. Safeway is also the 11st largest retailer in the US. The philosophy is rooted in social responsibility focused on four platforms: people products community and planet.

Revenue| 43.63 billion $|
Employees| 178 000|
Equity| 3.683 billion $|
Number of locations| 1 678 stores|

TESCO as representative of IFRS
Tesco is a British multinational grocery and general merchandise retailer with its headquarter in Cheshunt. It reached the third place measured by revenues in category the world largest retailer. And measured by profits is placed on the second position. The company was founded in 1919 in East London by Jack Cohen. It has stores in 14 countries across Asia, Europe, North America, UK, Malaysia, the Republic of Ireland and Thailand. Its grocery market is leader in the UK, because it has here a market share of around 30%. Core purpose is to create value for customers to earn their lifetime loyalty.

Revenue| 67.6 billion £|
Employees| 492 714|
Equity| 17.775 billion £|
Number of locations| 6 351 stores|
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APPAREL & ACCESSORIES INDUSTRY
NIKE as representative of U.S.GAAP...
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