(Answered) British airways plc ba a uk company prepares its financial

Accounting

British Airways, Plc. (BA), a U.K. company, prepares its financial statements according to International Financial Reporting Standards. BA's annual report for the year ended March 31, 2009, which includes financial statements and disclosure notes, is included with all new textbooks and can be found at www.britishairways.com. When answering questions, focus on BA's "Group" financial information (which is equivalent to "Consolidated" under U.S. GAAP).

Required:

1. What method does British Airways use to amortize the cost of computer software development costs? How does this approach differ from U.S. GAAP?

2. BA does not report any research and development expenses in its income statement. If it did, its approach to accounting for research and development would be significantly different from U.S. GAAP. Describe the differences between IFRS and U.S. GAAP in accounting for research and development expenditures.

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