Audit and Accounting Guide: Airlines (Paperback)

Audit and Accounting Guide: Airlines By Aicpa Cover Image
By Aicpa
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Description


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 Charges-Save time and avoid errors with the Sample PFC Report-fully updated to comply with the Clarity Standards.
  • Fresh-start Accounting-Step-by-step guidance through the complexities of executing a successful emergence.
  • ASU 2012-02: Impairment Testing for indefinite-lived intangible assets-Guidance on determining when a qualitative assessment is indicated for your client.
  • Audit risk factors-Be prepared to spot red-flags within your audit engagement related to management structure, industry developments, operating characteristics, and more.
  • Revenue recognition-Industry 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 Standards-All auditing content has been fully conformed to reflect changes resulting from the Clarity Project.

About the Author


Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards. The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.


Product Details
ISBN: 9781937352318
ISBN-10: 1937352315
Publisher: Wiley
Publication Date: November 7th, 2016
Pages: 352
Language: English