Fiat Group’s first-time adoption of IFRS Course: Corporate valuation Authors: Hanlin Wang David Řeha Jin Zhang Joy Nguyen On Wednesday‚ February 24‚ 2010 the SEC reiterated its support for International Financial Reporting Standards (IFRS)‚ this was conditional upon the accomplishment of a number of milestones. The SEC staff had developed a comprehensive work plan that would help to keep the process moving forward. Including Fiat‚more and more huge cooperations are adopting IFRS
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GAAP / IFRS Fiat Group’s first-time adoption of IFRS Differences Between Key Accounting Methods Under Italian GAAP And IFRS What characterizes the differences between the two sets of methods? - Substance over form Example: Recognition of revenue - Less flexibility Example: Recognition of R&D cost - More transparent Main factors that affect management’s reporting incentives and strategy in fiscal year 2005 - Research & Development: Because Fiat main operations are based on the manufacturing
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INTERNATIONAL BUSINESS CASE STUDY ANALYSIS FIAT AUTOMOBILES S.p.A OVERVIEW Fiat Group Automobiles S.p.A manufactures and markets automobiles‚ light commercial vehicles and related products in Italy‚ Europe‚ South America and Turkey. The company was formally known as FIAT Auto S.p.A and changed its name to Fiat Group Automobiles S.p.A in February 2007. The company was founded in 1979 and is based in Turin‚ Italy. Fiat Automobiles S.p.A operates as a subsidiary of Fiat S.p.A. TIMELINE 1899 * Company
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CASE 2/ Fiat Chrysler alliance 1/ Strengths and weaknesses of Fiat GM alliance Fiat was close to bankruptcy (no sustainable position) ; GM took 20% and Fiat received a put option ; explain ? Relations deteriorated (operations phase)‚ GM became less interested : Alliance was not equal ; The gross of the company has been different (different cycle and country) ; 2/ Strengths and weaknesses of Chrysler Daimler alliance Merger of equals‚ however Daimler baught Chrysler for bn$ 36 ; isnt’ it surprising
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Case Study 1 Section 1 In Chrysler’s case‚ the 21st century management principles hindered their downfall and paved a way to regain leverage. Marchionne‚ who is CEO of Fiat and chief executive at Chrysler effectively‚ implemented various management strategies to lift Chrysler out of bankruptcy. By setting objectives for the company and working through and with others Chrysler was able to move in the right direction. Marchionne came into an unsettling situation taking a huge risk. Quick decisions
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Bibliography: LUDVIGSEN ’S COLUMN: Fiat’s fraught future http://www.just-auto.com/comment/fiats-fraught-future_id104269.aspx Marchionne still wants Fiat-Chrysler merger http://www.usatoday.com/story/money/cars/driveon/2013/03/05/chrysler-fiat-marchionne-geneva-motor-show-uaw/1965275/ Fiat in Talks With Banks About Chrysler Deal‚ CEO Says no IPO http://www.bloomberg.com/news/2013-03-05/fiat-in-talks-with-banks-about-chrysler-deal-ceo-says.html http://www.fiatusa.com/en/ http://www.chrysler
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FIAT’s strengths (SWOT Analysis) October 25‚ 2012 -SWOT Analysis- 1. Strengths: Diversified Business Portfolio- FIAT is active in automobiles‚ components‚ and production systems‚ and operates through nine business segments‚ including FGA‚ Chrysler ‚ Magneti Marelli‚ Ferrari‚ Comau‚ Teksid‚ Fiat Powertrain‚ and Maserati. This insulates Fiat from being heavily impacted by the potential demand fluctuations of specific product categories‚ meanwhile allowing it to benefit from the opportunities available
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FIAT IN INDIA FIAT makes a strategic move for the Indian market • • • • FIAT Group establishes National Sales Company (NSC) as an independent entity within the FIAT Chrysler India operations Exclusive FIAT dealerships established New Integrated Marketing Campaign initiated to engage with customers across multiple touch points New comprehensive service package consisting of a three year manufacturer warranty with an option of extending it to five years ‚ 24/7 road side assistance (RSA) and soon
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the Manhattan Bankruptcy Court along with its 24 wholly-owned U.S. subsidiaries. Included in the bankruptcy filing for Chrysler‚ it announced that they had established a global strategic alliance with Fiat SpA. The plan for Chrysler was to provide the public with a new face to the company and Fiat would hold a 20 percent stake that would ultimately increase up to 35 percent. The Voluntary Employees Benefit Association (VEBA) would hold 55 percent stake‚ 8 percent would be held by the U.S. Treasury
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Launch Marketing Plan‚ Part I New Product Launch Marketing Plan‚ Part I International: Fiat Market Needs and Market Growth “Vehicle shipments in NAFTA totaled 2‚238‚000 units for FY 2013‚ representing a 6% increase over FY 2012. In the U.S.‚ vehicle shipments were 1‚876‚000 (up 7% from FY 2012)‚ in Canada 269‚000 (up 5%) and 93‚000 for Mexico and other.” (Fiat 2013 Full Year Q4 Results‚ 2014) “Fiat forecast that group trading profit this year will rise to between 3.6 billion euros
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