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Club Med

In: Business and Management

Submitted By mmlovett
Words 775
Pages 4
a.
I. the ordering of assets: Club Med put fixed assets before current assets but U.S. companies would do it inversely. Also, the current assets, U.S. companies follow order of liquidity so they would put bank and cash in first place and then receivables. Ordering of liabilities: U.S. companies would put liabilities before shareholder’ equities but Club Med did it inversely. Also, U.S. companies would divide liabilities into short term liabilities and long term liabilities. Short term liabilities would follow the order of liquidity.
II. 1. The financial statements of U.S companies only present the data from two years but Club Med present the data from three years. 2. Financial statements of Club Med have separate column for reference but U.S. companies don’t have that.
III. 1. U.S. companies usually put numbers in thousands of dollars but Club Med put numbers in millions of euros. 2. Med Club has subtotals printed and bold but U.S. companies don’t do that. 3. Med Club divided the fixed assets into intangible assets, tangible assets and financial assets but not in U.S. 4. Med Club include net income/net loss in its income statements but in U.S. we close it at the end of the year. 5. Med Club includes provisions for contingencies and charges for income smoothing but not in U.S.

IV.
CLUB MEDITERRANEE S.A.
CONSOLIDATED BALANCE SHEET
In millions of Euros
ASSETS October 21
2001

Cash 108
Marketable securities 18
Trade accounts receivable, net 58
Other accounts receivable, net 158

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