Arctic Automotive Co. Case: EVs, EV Batteries And IFRS
- ASU Author/Contributor (non-ASU co-authors, if there are any, appear on document)
- Dr.. Ken S. Brackney, Professor (Creator)
- Institution
- Appalachian State University (ASU )
- Web Site: https://library.appstate.edu/
Abstract: The Arctic Automotive Co. case calls for students to convert a foreign company’s International Financial Reporting Standards (IFRS) basis financial statements to a U.S. Generally Accepted Accounting Principles (U.S. GAAP) basis. The case is set in the electric vehicle (EV) manufacturing industry. A fictitious U.S. auto manufacturer is seeking to acquire a manufacturer of EV batteries. One of several possible target companies is based outside the U.S. and uses IFRS for reporting purposes. To properly evaluate the foreign target from a financial perspective, the U.S. auto maker must perform a conversion of the target’s IFRS financial statements to a U.S. GAAP basis. The case aims to provide students with some experience in: (1) Identifying differences between IFRS and U.S. GAAP; (2) Researching and applying the IFRS and U.S. GAAP standards; and (3) Converting a foreign company’s IFRS balances to a U.S. GAAP basis.
Arctic Automotive Co. Case: EVs, EV Batteries And IFRS
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Created on 1/24/2022
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Additional Information
- Publication
- Brackney, K. & Downen, T. (2019). Arctic Automotive Co. Case: EVs, EV Batteries And IFRS, Accounting Instructors' Report (Summer 2019). https://blog.cengage.com/facing-a-new-generation-of-students-what-will-gen-zs-bring/. Publisher version of record available at: http://embed.widencdn.net/pdf/plus/cengage/qrkwasi0ua/877-brackney-arctic-automotive-co-case-1.pdf?u=rhkluf
- Language: English
- Date: 2019
- Keywords
- Arctic Automotive Co., EVs, EV Batteries, IFRS, accounting, U.S. Generally Accepted Accounting Principles (U.S. GAAP), foreign companies