The following table identifies the changes made to this Subtopic.
The Airlines Topic includes the following Subtopics relating specifically to entities in the airline industry:
- a
Overall
- b
Segment Reporting
- c
Inventory
- d
Intangibles—Takeoff and Landing Slots
- e
Property, Plant, and Equipment
- f
- g
Compensation—General
- h
Other Expenses
- i
Nonmonetary Transactions.
Each Subtopic provides background on the guidance provided.
Entities in the airline industry primarily provide carrier services for passengers and cargo, frequently as joint operations. Other services, such as maintenance or food service for other carriers, may also be provided.
A major portion of an airline's fixed assets comprises aircraft and other flight equipment. Because such assets are constantly changing locations, the responsibility for physical custody and control of aircraft is substantially different from that of nonmobile fixed assets.
Compensation of flight personnel usually represents a significant portion of an airline's operating expenses. The amount of compensation is generally dependent on a number of variables, including, among others, flying status, type of equipment flown, hours flown, whether flights are made during the day or at night, and employee seniority.
The Subtopics within the Airlines Topic only provide incremental industry-specific guidance for the entities defined in the Scope Sections of the individual Subtopics. Entities within the scope of this Topic shall also comply with the applicable standards not included in this Topic.
This Topic provides guidance for all entities in the airline industry. See Section
908-10-05 for a description of such entities and their operations.