Airlines -- AICPA Audit and Accounting Guide

This guide summarizes new standards, guidance, and practices, and delivers "how-to" advice for handling audit and accounting issues common to the airline industry.

Updated with conforming changes as of May 1, 2010, the guide includes relevant guidance contained in official standards and other technical sources. The guide offers practical guidance on recent developments in areas such as risk assessment, fair value measurements, and internal controls. All content is reviewed by industry experts and approved by the appropriate AICPA senior technical committees.

The following new guidance is particularly significant to this guide and is reflected in this edition:
· FASB Accounting Standards Update (ASU) 2009-17, Consolidations (FASB ASC 810)
· FASB Statement No. 141(R), Business Combinations (FASB ASC 805)
· FASB ASU No. 2010-11, Derivatives and Hedging (FASB ASC 815)