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Sir l was looking at the FedEx statement of comprehensive income for the year ended 2019 and l came across an item of Amortization of prior service credit and other,I don’t understand what they are referring here
Thank you
2.Sir in the same financial statements when looking at the consolidated balance sheet,why is the treasury stock figure greater than the common stock and the additional paid in capital,please explain
Thank you
1. US financial reporting standards are sometimes very different to international accounting standards – the rule on part service costs is different – so don’t learn it!
2. Treasury stock arises when companies buy back their own shares – I have no idea why FedEx have a large balance on treasury stock – again this is a US issue not something that you have to be concerned about for this exam
Sir this is not for the exams l am trying to analyse the financial statements,so l thought l could get help from here,regarding certain areas l don’t understand
3.Another question l had was l was looking at their tax reconciliation of the total income tax expense and that computed under the federal and l am looking at an item of non deductible expense which is increasing the tax,which l don’t understand why,l thought it should have led to a decrease in tax and also the impairment charge
It is on page 121 of the 2019 Financial statements
Thank you
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