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Who's Keeping An Eye On U.S. Airlines' Accounting?  
User currently offlineBobcat From United States of America, joined Jun 2007, 0 posts, RR: 0
Posted (13 years 11 months 6 days 11 hours ago) and read 2127 times:

With so much fraud, deception, ignorance, etc... going on
in corporate American today, who's keeping an eye on U.S. airline industry's accounting practices?

1 replies: All unread, jump to last
User currently offlineBroke From United States of America, joined Apr 2002, 1325 posts, RR: 3
Reply 1, posted (13 years 11 months 6 days 11 hours ago) and read 2120 times:

The issue of whether heavy maintenance checks should be expensed or capitalized has been on-going between the IRS and the airlines for several years. The airlines oversold their ability to perform a heavy check, making the airplane "like new", so the IRS was saying that the airplane's net value should return to its original value after each check. Most airlines depreciate their fleets to a certain level and take a one time asset increase, if it sells for more than the depreciated value. For an airline that is the original owner, that is usually what happens.

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