A brazilian manufacturer of paper pulp
The following information is based on the balance sheet of
Aracel, a Brazilian manufacturer of paper pulp, for Year 6. Aracel
applies U.S. GAAP and reports its results in thousands of U.S.
dollars. (Adapted from the financial statements of Aracruz
a. Prepare a balance sheet for Aracel for Year 6 assuming the firm follows U.S. GAAP.
b. Prepare a balance sheet for Aracel for Year 6 assuming the firm follows IFRS.
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