SAMPLE ACCOUNTING ISSUES MEMO Memorandum To: Flyaway.com accounting files From: Student Name Date: X/X/XXXX Re: Gross or Net Reporting of Online Ticket Sales Revenues Background Flyaway.com (“Flyaway” or the “Company”) sells airline tickets to customers through an online platform, where customers can choose the airline of their choice. Once a customer purchases a ticket, Flyaway remits payment for the travel to the airline and retains a commission (roughly 10% of the ticket’s value). The airlines set all ticket prices. If a flight is canceled, the airline must refund the customer. On the other hand, if the customer’s payment is invalid, Flyaway.com assumes credit risk.
AIRCRAFT PURCHASE AGREEMENT AIRCRAFT PURCHASE AGREEMENT dated November 5, 2013, between Supersonic Wings Corp., a Delaware corporation (the "Seller"), and Fly-by-Night Aviation, Inc., a New York corporation (the "Buyer"). WHEREAS, the Seller desires to sell to the Buyer, and the Buyer desires to purchase from the Seller, the Aircraft (as defined in Section 1.1); This Agreement provides for the sale of the Seller’s Gulfstream Aerospace Corporation G550 jet to the Buyer. Accordingly, the parties agree as follows: Article 1. Definitions 1.1 Defined Terms. As used in this Agreement, terms defined in the preamble of this Agreement have their assigned meanings, and the following terms have the meanings set forth below: "Agreement" means this Aircraft Purchase Agreement and all Schedules and Exhibits, as each may be amended from time to time.
Discuss the corporate culture at Southwest Airlines and how it leverages its culture to achieve a competitive advantage. Culture is generally defined as the way of doing things in a particular society. When organizations have a unique way of doings, they have their own corporate culture. This culture is developed, fostered and evolved over time. In modern times, organizations try to create a corporate culture with a distinct identity or to mould the behavior of their members into a predetermined corporate cultural identity.
United Airlines The WSJ recently presented data suggesting that United Airlines was not covering its costs on flights from San Francisco to Washington D.C. The article quoted analysis saying that United should discontinue this service. The costs per flight (presented in the article) included the costs of fuel, pilots, flight attendants, food, etc. used on the flight. They also included a share of the costs associated with running the hubs at two airports, such as ticket agents, building charges, baggage handlers, gate charges, etc.
Management Report for T&H Airlines Executive Summary T&H is a domestic airline that until now has been self-insured. Current Company CFO, Bill Albertson, is studying the best option in terms of insurance for the company, to minimize risk at the lowest possible cost. To analyze this issue a simulation model for T&H Airlines was developed using the company data and the industry information. Two quotes were presented and considered by the company CFO. Quote number one has a premium of 150% of actual losses and a minimum and maximum of $5 and $12 per 1,000 insured, while policy two has a premium of 100% of actual losses and a minimum and maximum of $6 and $9 per 1,000 insured.
Gary Kelly CEO Southwest Airlines Mechille Edmond Stevens-Henager College 29 April 2013 Gary Kelly CEO Southwest Airlines We were asked to do some research on Mr. Gary C. Kelly CEO and President of Southwest Airlines on the corporate cultures amongst other things. I will be explaining my findings about this main and his accomplishments both career and educational backgrounds. I will also be answering the following questions: the corporate culture at Southwest Airlines, What traits and skills does Kelly possess which make him an effective leader, and Identifying Southwest Airlines' core competencies. Gary C. Kelly started his career with Southwest Airlines in 1986 an a controller, then in 1989 he was promoted to CFO and Vice President of Finance, in 2004 he was again promoted to Executive Vice President and Vice Chair, an in 2008 he was promoted again to CEO and Chairman of the Board. He received his B, A, in accounting and is a CPA.
Aircraft Purchase Agreement Aircraft Purchase Agreement dated as of September 9, 2015 and between Fly-by-Night Aviation, Inc., a New York Corporation (the “Seller”), and The Robertson Jet Corp., a Delaware corporation (the “Buyer”). WHEREAS, the Seller desires to assign all of its rights in a Purchase Offer of $21,000,000 for a aircraft with Sam Samson to the Buyer and delegate the Seller’s performance to the Buyer, which would assume the Seller’s performance under the Purchase Offer and contemporaneously pay the Seller $1,000,000; NOW, THEREFORE, in consideration of the mutual promises herein set forth and subject to the terms and conditions hereof, the parties agree as follows: Article 1. Definition 1.1 Defintions. As used in this Agreement, the following terms shall have the meanings set forth below: (a) “Aircraft” shall mean Icarus Aerospace Corporation I-800 aircraft, bearing United States Registration No. N765BW and Manufacturer’s Serial No.
What is the maximum PFC revenue that can be generated at this airport? 2. What is the amount of AIP entitlement revenue that this airport can receive? 3. Will the airport lose any funds implementing a PFC?
An example of this could be Virgin; a world-wide well known travel and tourism business which sells holidays and flights to customers. There are different types of private companies. The difference between them is in the amount of liability the owners have if the company goes bankrupt. Private limited companies issue shares that can be bought and sold only with the permission of the board of directors. If the
A REPORT ON BOEING LTD Boeing 787 Dreamliner Prepared for: Mr. John M.Andree (Lecturer) Unit 32: Quality Management in Business The University of Banking Academy, Hanoi BTECH HND in Business Submitted: 10th June, 2013 Prepared by: Vu Nguyen Phuong Anh Registration No: ITP F04-023 10th June, 2013 Table of Contents Introduction 3 L01: A RANGE OF QUALITY CONTROLS AND HOW SERVICE TO THE CUSTOMER CAN BE IMPROVED 4 3.1 How quality management can be measured 4 3.2 The benefit of user and non-user surveys in determining customer needs 5 3.3 The methods of consultation employed in one quality scheme to encourage participation by under-represented group 6 3.4 The value of complaint procedures and analyse how they may be used to improve quality 8 LO2: APPLY PRINCIPLES OF QUALITY MANAGEMENT TO IMPROVE PERFORMANCE OF AN ORGANIZATION 10 4.1 Role of self-assessment in order to determine an organization’s current ‘state of health’ 10 4.2 The importance of communicate and record keeping 12 4.3 Guidelines on the stages of staff consultation necessary for effective implementation of a quality scheme 13 4.4 Propose new systems or modifications to existing systems that could improve service quality 15 Conclusion 17 Appendix 18 References 19 Introduction The Federal Aviation Administration issued an emergency order late Wednesday telling U.S. airlines to stop flying Boeing 787 Dreamliners until they can prove that batteries on board are safe (Scenario, 2013). It requires Boeing checking its quality management system again to find weaknesses and improvements for long term survival. In this report, people can understand concept quality management, how to measures it and improve it in case of Boeing Company as a whole and 787 Dreamliner in particular, the way it works and benefits as well. This report addresses the following tasks