It stated in the principles of presentation and consolidation that in the first quarter of 2009, their wholly-owned subsidiary Ford Motor Credit Company LLC recorded a $630 million cumulative adjustment to correct for the overstatement of Financial Service sector cash and cash equivalents and certain accounts payable that originated in prior periods. Another interesting documents involved new adoptions to the company involving accounting standards. These three new adoptions were fair value measurements, transfers of financial assets, and variable interest entities.
No comments:
Post a Comment