Audit And Accounting Guide - Airlines
Free PDF Download
AICPA, 2016
ISBN10: n/a ISBN13: 9781937352318
Get the industry-specific knowledge you need to successfully perform every aspect of your engagement. From revenue recognition challenges associated with frequent flyer programs to guidance for Fresh-Start Accounting, this Guide has you covered. Airlines - Audit & Accounting Guide provides best practices for accounting and auditing specific to major, regional and cargo airlines, including relevant guidance contained in standards issued through March 1, 2013. Guidance is supplemented with specific how-to recommendations for applying the standards to the airline industry. This Guide covers best practices related to revenue recognition, equipment purchase and maintenance issues, auditing risks, and much more. Covered topics include: Passenger Facility ChargesSave time and avoid errors with the Sample PFC Reportfully updated to comply with the Clarity Standards. Fresh-start AccountingStep-by-step guidance through the complexities of executing a successful emergence. ASU 2012-02: Impairment Testing for indefinite-lived intangible assetsGuidance on determining when a qualitative assessment is indicated for your client. Audit risk factorsBe prepared to spot red-flags within your audit engagement related to management structure, industry developments, operating characteristics, and more. Revenue recognitionIndustry standards and strategies are provided for trouble-spots such as frequent flyer programs, gross vs. net, capacity purchase agreements, manufacturer incentives and multiple element arrangements Clarified Auditing StandardsAll auditing content has been fully conformed to reflect changes resulting from the Clarity Project.
