Index
2022; Emerald Publishing Limited; Linguagem: Inglês
10.1108/s1479-351220220000035006
ISSN1479-3512
Tópico(s)Aviation Industry Analysis and Trends
ResumoCitation (2022), "Index", Öztürk, C. and Baker, C.R. (Ed.) Perspectives on International Financial Reporting and Auditing in the Airline Industry (Studies in Managerial and Financial Accounting, Vol. 35), Emerald Publishing Limited, Bingley, pp. 175-185. https://doi.org/10.1108/S1479-351220220000035006 Publisher: Emerald Publishing Limited Copyright © 2022 Emerald Publishing Limited INDEX Accounting diversity, 5 framework, 131 measurement, 5 period for data, 61 Accounting for Leases of Aircraft Fleet Assets, 6, 54 Accounting policy, 22, 24 analysis of accounting policy options related to airline industry, 45–47 choices, 22 comparability of financial information, 24–27 data, 30 findings, 30 literature review on accounting policy choice in airline industry, 28–30 observations on IAS 1 presentation of financial statements, 30–41 observations on IAS 2 inventory, IAS 16 PPE, IAS 38 intangible assets, and IAS 40 investment property, 43–45 observations on IAS 7 statement of cash flows, 41–43 overall analysis of findings, 47–49 policy options, 22–24 research methodology, 30 Accounting Policy Task Force, 6 Accounting Standards for Business Enterprises of China (ASBE), 10 Aero Mexico, 90, 92, 94, 95 Aeromexico, 9–10 Africa case of airlines from, 65 entity-wide disclosures, 105–106 factors used to identify airline’s reportable segments, 102 financial reporting in airline industry in, 14 identity of CODM, 106–107 income and expense items disclosed, 104–105 nature and number of segments reported by airlines, 101 observations on segment reporting in, 101 proportion of total revenues represented by separately reportable segments, 103 reporting currency, 104 segmental cash flow information, 105 segmental performance measures, 103 total assets, total liabilities, and other asset items for each reportable segment, 104 types of products and services reportable segment derives revenues, 102–103 Air Canada, 9, 94 Air France–KLM (AF-KLM), 53, 139–140 accounting period for data, 61 effect of adoption of IFRS 15 in airline industry, 63–66 analysis of disclosures under IFRS 16, 77–78 constraint of research, 62 data, 61 effects of IFRS 15 and IFRS 16 on income statement, 70–71 effects of IFRS 15 and IFRS 16 on statement of financial position, 66–70 first-time adoption of IFRS 15 and IFRS 16, 63 effect of IFRS 15 and IFRS 16 on ratios, 71–77 IFRS 15 revenue from contracts with customers, 52–54 IFRS 16 Leases, 54–55 IFRS 15 and IFRS 16 effects on statement of cash flows, 71 literature review on compliance level of disclosures of IFRS 15 and IFRS 16, 60–61 literature review on cumulative effect of IFRS 15 and IFRS 16, 59 literature review on effect of IFRS 15, 55 literature review on effect of IFRS 16, 55–59 mandatory disclosures of, 79 overall analysis of airlines, 66 research methodology, 62 steps of revenue recognition, 53 voluntary Disclosures of, 80 Air India, SpiceJet, 14 Air Mauritius case, 140 Air Partner, 66 Air Transat, 9, 94 Airline industry, 4 analysis of accounting policy options related to, 45–47 determinants of IFRS adoption in, 16 financial reporting framework at present, 9–16 financial reporting framework in past, 7–9 financial reporting in, 5–6 jurisdictional versions of IFRS in, 16–19 literature review on accounting policy choice in, 28–30 literature review on IFRS 8 segment reporting in, 89 literature review on international auditing in, 135–136 Airline(s) airline-related financial information, 5 nature and number of segments reported by, 84–85 passenger, 53 All Nippon Airways (ANA), 14 Americas case of airlines from, 63 entity-wide disclosures, 93–95 factors used to identify airline’s reportable segments, 90 financial reporting in airline industry in, 9–10 identity of CODM, 95 income and expense items disclosed, 93 nature and number of segments reported by American airlines, 90 observations on segment reporting in, 90 proportion of total revenues represented by separately reportable segments, 92 reporting currency, 92 segmental cash flow information, 93 segmental performance measures, 92 total assets, total liabilities, and other asset items for each reportable segment, 92 types of products and services from which each reportable segment derives revenues, 91 Asia-Pacific Region case of airlines from, 65 entity-wide disclosures, 111–112 factors used to identify airline’s reportable segments, 107 financial reporting in airline industry in, 14–16 identity of CODM, 112 income and expense items disclosed, 110 nature and number of segments reported by airlines, 107 observations on segment reporting in, 107 proportion of total revenues represented by separately reportable segments, 108 reporting currency, 109 segmental cash flow information, 110 segmental performance measures, 109 total assets, total liabilities, and other asset items for each reportable segment, 109–110 types of products and services from which each reportable segment derives revenues, 107–108 Assets, 25 depreciable, 49 geographical allocation of, 88, 95, 122 intangible, 27, 49 items for each reportable segment, 86 net, 33 reporting, 36 total, 33, 86 Audit firms, 130–131 in audit reports of airlines, 138–139 Audit opinions, 131 in audit reports of airlines, 140 “Audit quality”, 139 Audit reports of airlines audit firms in, 138–139 audit opinions in, 140 auditor types in, 139–140 content analysis of reporting KAMs in, 146–150 emphasis of matter and other matter paragraphs in, 140–141 material uncertainty related to going-concern in, 141–142 materiality in, 150–154 Auditing Act of Finland, 129 Auditing practices, 5 Auditor types, 130–131 in audit reports of airlines, 139–140 Australian Accounting Standards, 14 Australian Auditing Standards, 130 Azul Brazilian, 94 Azul Brazilian Airlines, 9 Balance sheet, 24–25, 30 capital employed, 36 format of, 32 net assets, 34–35, 37 title of, 31 total assets, 33–34 Bangkok Airways, 14 Big 4 audit firms, 131, 138–139 Board of Directors (BoD), 88–89 Business units, 84 Cargojet Airways, 9 Cash flow statement, 26 observations on IAS 7 statement of cash flows, 41–43 Cathay Pacific Airlines, 10 Chief Executive Officer (CEO), 88 Chief Operating Decision Maker (CODM), 82–83, 86 in Americas, 95 in Asia-Pacific, 112 in China and Northern Asia, 117 in Europe, 101 identity of, 88–89 in Middle East and Africa, 106–107 Chief Operating Officer, 88 China case of airlines from, 65 entity-wide disclosures, 116–117 factors used to identify airline’s reportable segments, 113 financial reporting in airline industry in, 10–11 identity of CODM, 117 income and expense items disclosed, 115 nature and number of segments reported by airlines, 112 observations on segment reporting in, 112 proportion of total revenues represented by separately reportable segments, 113–114 reporting currency, 114 segmental cash flow information, 115 segmental performance measures, 114 total assets, total liabilities, and other asset items for each reportable segment, 114–115 types of products and services from which each reportable segment derives revenues, 113 Combination, 84 Company materiality, 154, 155 Comparability of Financial Statements Project, 22 Comparative analysis of IFRS accounting policy, 24 Competence, 139 Comprehensive income, 25, 38–40 Content analysis of reporting KAMs in audit report of airlines, 146–150 Contingent-liability method, 28 Copa Airlines, 8, 9, 94 Cost model, 27, 49 Croatia Airlines, 13 Cumulative catch-up method, 63 Customer Loyalty Programmes, 28 Deferred-revenue approach, 28 Departure method, 88 Deployment approach, 88 Depreciable assets, 49 Depreciation, 49 costs, 58 Destination method, 88 Direct-to-equity approach, 28 Diversity, 5–6 in accounting policy options, 28–29 in financial reporting, 24 Dividend, 26–27 Double-declining, 29 Earnings Before Interest, Tax, Depreciation, Amortization (EBITDA), 55–56, 70, 75, 85 Earnings Before Interest, Tax, Depreciation, Amortization and Rent (EBITDAR), 56, 70, 75, 92 Earnings before interest and tax (EBIT), 85 Economic deregulation of airlines, 4 Emirates, 8 Entity-wide disclosures, 87–88 in Americas, 93–95 in Asia-Pacific, 111–112 in China and Northern Asia, 116–117 in Europe, 99–101 in Middle East and Africa, 105–106 Equity accounting, 26 method, 29 Europe case of airlines from, 63–65 entity-wide disclosures, 99–101 factors used to identify airline’s reportable segments, 95 financial reporting in airline industry in, 11–14 identity of CODM, 101 income and expense items disclosed, 98–99 nature and number of segments reported by airlines, 95 observations on segment reporting in, 95 proportion of total revenues represented by separately reportable segments, 96 reporting currency, 98 segmental cash flow information, 99 segmental performance measures, 97 total assets, total liabilities, and other asset items for each reportable segment, 98 types of products and services from which each reportable segment derives revenues, 96 European Commission (EC), 129 European Economic Area (EEA), 13 European Union (EU), 11 Expense items disclose, 86–87 Fair value model, 27, 49 “Financial debt” account, 69 Financial disclosure, 5 Financial reporting (See also International auditing) accounting period for data, 7 in airline industry, 4–5 considering diversity, harmonization, and airline industry, 5–6 constraint of research, 7 credibility, 139 data, 6–7 findings, 7 framework in airline industry at present, 9–16 framework in airline industry in past, 7–9 observations related to IFRS adoption from perspective of airlines’ financial statements, 16–19 research methodology, 7 Financial Reporting Council (FRC), 134 Financial statements, 128 observations on IAS 1 presentation of, 30–41 observations related to IFRS adoption from perspective of airlines, 16–19 Financial Supervisory Commission (FSC), 10–11, 18 Financing, 26 cash flows, 42, 43 leases, 147 First-in first-out (FIFO), 23 Frequent-Flyer Programme Accounting, 28 Full retrospective method (FRM), 61, 63 Garuda Indonesia, 14 Geographical allocation of assets, 88, 95, 122 GOL Linhas Aereas, 8, 9, 38, 140, 147 Good auditing practice in Finland, 129 Gross profit, 92 Group materiality, 154, 155 Harmonization, 5–6 Hedge accounting, KAMs related to, 149 Hong Kong Financial Reporting Standards (HKFRS), 10 Hong Kong Institute of Certified Public Accountants (HKICPA), 10 Hong Kong Stock Exchange (HKSE), 10 IAS 1, 27 observations on IAS 1 presentation of financial statements, 30–41 IAS 16 (PPE), 27, 43–45 IAS 2 (inventory), 27, 43–45 IAS 36 (impairment of assets), 60 IAS 38 (intangible assets), 27, 43–45, 60 IAS 40 (investment property), 27, 43–45 IAS 7, 27 observations on IAS 7 statement of cash flows, 41–43 Icelandair, 13 Identity of CODM, 88–89 IFRIC 13 (Customer Loyalty Programmes), 52 IFRIC 15 (Agreements for Construction of Real Estate), 52 IFRIC 18 (Transfers of Assets from Customers), 52 IFRS 15 (revenue from contracts with customers), 52 effect of adoption of IFRS 15 in airline industry, 63–66 effects on income statement, 70–71 effects on statement of financial position, 66–70 first-time adoption of, 63 literature review on cumulative effect of IFRS 15 and IFRS 16, 59 literature review on effect of IFRS 15, 55 IFRS 16 (Leases), 54–55 analysis of disclosures under IFRS 16, 77–78 effects on income statement, 70–71 effects on statement of financial position, 66–70 first-time adoption of, 63 IFRS 15 and IFRS 16 effects on statement of cash flows, 71 literature review on cumulative effect of IFRS 15 and IFRS 16, 59 literature review on effect of IFRS 16, 55–59 IFRS 3 (Business Combinations), 60 IFRS 8 (operating segments), 82–84 analysis of segment reporting in global context, 117–123 data, 89 entity-wide disclosures, 87–88 factors used to identify airline’s reportable segments, 85 findings, 90 identity of CODM, 88–89 income and expense items disclosed, 86–87 items of disclosures required by IAS 14 and IFRS 8, 83 literature review on IFRS 8 segment reporting in airline industry, 89 nature and number of segments reported by airlines, 84–85 observations on segment reporting in Americas, 90–95 observations on segment reporting in Asia-Pacific, 107–112 observations on segment reporting in China and Northern Asia, 112–117 observations on segment reporting in Europe, 95–101 observations on segment reporting in Middle East and Africa, 101–107 proportion of total revenues represented by separately reportable segments, 85 reporting currency in segment reporting, 86 research methodology, 89–90 segmental cash flow information, 87 segmental performance measures, 85–86 total assets, total liabilities, and other asset items for each reportable segment, 86 types of products and services from which each reportable segment derives revenues, 85 Income IFRS 15 and IFRS 16 effects on income statement, 70–71 items disclose, 86–87 statement, 37–38 Incremental-cost method, 28 Independence, 139 Indian Accounting Standards (Ind AS), 14 Indonesian Accounting Standards, 14 Industry Accounting Working Group (IAWG), 6, 29, 53–54 Information about major customers, 88 Intangible assets, 27, 49 Interest expenses, 58 Interest paid, 26 International Accounting Standards Committee, 9, 22, 52 International Air Transport Association (IATA), 6, 28, 52, 84 International auditing (See also Financial reporting) ISAs, 128–130 observations on communicating concept of materiality in planning and performing audit under observations on material uncertainty related to going concern considering ISA, 132–133 observations related to audit firms and types of auditors, 130–131 observations related to auditors’ opinions and related paragraphs of audit report, 131–132 observations related to content analysis of KAMs in audit report considering ISA 701, 133–134 observations related to elements of describing KAMs in audit report considering ISA 701, 133 International Auditing and Assurance Standards Board (IAASB), 128 International Federation of Accountants (IFAC), 128 International Financial Reporting Standards (IFRS), 5, 22, 82, 128 as adopted by Republic of Korea, 14 adoption, 14 determinants of IFRS adoption in airline industry, 16 effects on statement of cash flows, 71 jurisdictional versions of IFRS in airline industry, 16–19 New Zealand equivalents to, 14 observations related to IFRS adoption from perspective of airlines’ financial statements, 16 International Standards on Auditing (ISAs), 128–129 ISA 700, 131 ISA 705, 131 ISA 706, 131 material uncertainty related to going concern considering, 132–133 Inventory, 27 Investing, 26 Investment property, 27 ISA 701, 134–135 analysis of elements of describing KAMs in audit report, 142–146 audit firms in audit reports of airlines, 138–139 audit opinions in audit reports of airlines, 140 auditor types in audit reports of airlines, 139–140 content analysis of reporting KAMs in audit report of airlines, 146–150 data, 136–137 emphasis of matter and other matter paragraphs in audit reports of airlines, 140–141 findings, 138 literature review on international auditing in airline industry, 135–136 material uncertainty related to going-concern in audit reports of airlines, 141–142 observations on materiality in planning and performing audit under, 134–135 observations related to content analysis of KAMs in audit report considering, 133–134 observations related to elements of describing KAMs in audit report considering, 133 research methodology, 138 Israeli Auditing Standards, 129 Japan Airlines, 14 Japan GAAP, 14 Jet airplanes, 4 “Jumbo jets”, 4 Jurisdictional IFRS, 14 Key audit matters (KAMs), 132–133, 135–136, 142–143 analysis of elements of describing KAMs in audit report, 142 content analysis of reporting KAMs in audit report of airlines, 146 materiality in audit reports of airlines, 150–154 observations related to content analysis of KAMs in audit report considering ISA 701, 133–134 observations related to elements of describing KAMs in audit report considering ISA 701, 133 patterns of diversified elements of describing KAMs in auditor context, 144–146 patterns of elements of describing KAMs in global context, 143–144 rare KAMs, 149 related to aircraft assets and other PPE items, 147–148 related to hedge accounting, 149 related to lease accounting, 147 related to revenue recognition, 146–147 very rare KAMs, 149–150 Korean Air, 86 Korean Standards on Auditing, 130 LATAM Airlines Group, 9 Latam, 94 Lease accounting, KAMs related to, 147 “Lease debt” account, 69 Liquidity ratios, 71–73 Location method, 88 “Location” method, 122 Malaysian Financial Reporting Standards (MFRS), 14 Mandatory disclosures of AF-KLM, 79 Material uncertainty related to going concern considering ISA, 132–133 related to going-concern in audit reports of airlines, 141–142 Materiality analysis of rationales behind group and company materiality benchmarks, 152 in audit reports of airlines, 150 declaration of group and company materiality in audit reports, 151–152 declaration of materiality related information in audit reports, 150–151 declaration of performance materiality in audit reports, 152–154 monetary and percentage value of group, company, and performance materiality, 154, 155 in planning and performing audit under ISA 701, 134–135 scope of audit, 154–156 Matrix geographic regions, 84 Matrix line of business, 84 Mauritius Financial Reporting Act, 140 Middle East case of airlines from, 65 entity-wide disclosures, 105–106 factors used to identify airline’s reportable segments, 102 financial reporting in airline industry in, 14 identity of CODM, 106–107 income and expense items disclosed, 104–105 nature and number of segments reported by airlines, 101 observations on segment reporting in, 101 proportion of total revenues represented by separately reportable segments, 103 reporting currency, 104 segmental cash flow information, 105 segmental performance measures, 103 total assets, total liabilities, and other asset items for each reportable segment, 104 types of products and services from which each reportable segment derives revenues, 102–103 Mixed geographic regions, 84 Mixed line of business, 84 Modified retrospective method (MRM), 63 National Accounting Standards, 14 National Audit Office, 138 Net assets, 33 Network approach, 88 New York Stock Exchange (NYSE), 8 No disclosure method, 88 Non-Big 4 audit firms, 131 Northern Asia case of airlines from, 65 entity-wide disclosures, 116–117 factors used to identify airline’s reportable segments, 113 financial reporting in airline industry in, 10–11 identity of CODM, 117 income and expense items disclosed, 115 nature and number of segments reported by airlines, 112 observations on segment reporting in, 112 proportion of total revenues represented by separately reportable segments, 113–114 reporting currency, 114 segmental cash flow information, 115 segmental performance measures, 114 total assets, total liabilities, and other asset items for each reportable segment, 114–115 types of products and services from which each reportable segment derives revenues, 113 Norwegian Air, 13 One-statement approach, 23 OneWorld, 13 Operating cash flow, 26 Operating entities, 84 Operating profit, 26, 85 Origin method, 88 Performance materiality, 154, 155 Philippine Standards on Auditing, 130 Philippines Financial Reporting Standards, 14 Prevailing audit regulations in Spain, 129 Professional ethics, 129 Professional standards applicable in France, 129 Profitability indicators, 4 ratios, 75–77 Property, plant, and equipment (PPE), 23, 27, 43–45 Proportionate consolidation, 29 Public Company Accounting Oversight Board (PCAOB), 128 Pure geographic regions, 84 Pure line of business, 84 Qatar Airways Company (QAC), 59 Rare KAMs, 149 Ratio analysis, 77 Reportable segments factors used to identify airline’s reportable segments, 85 proportion of total revenues represented by separately reportable segments, 85 types of products and services from which each reportable segment derives revenues, 85 Reporting assets, 36 currency in segment reporting, 86 Revaluation model, 27 Revenue, 52, (See also Assets) from contracts with customers, 28 from external customers for products and services, 87, 93–94, 121 by geographical areas, 87–88, 94, 122 KAMs related to revenue recognition, 146–147 ROA, 57–59, 75, 77 ROE, 57–59, 75, 77 Romanian Accounting Standards (RAS), 131 Royal Jordanian Airlines Company (RJ), 59 Ryanair, 12 Saudi Airlines Catering (SAC), 59 Segment information, 82 “Segment profit”, 92 Segment related disclosures, 82 Segment reporting, 82, (See also Financial reporting) analysis in global context, 117–123 other asset items for each reportable segment, 86 Segmental cash flow information, 87 in Americas, 93 in Asia-Pacific, 110 in China and Northern Asia, 115 in Europe, 99 in Middle East and Africa, 105 Segmental performance measures, 85–86 in Americas, 92 in Asia-Pacific, 109 in China and Northern Asia, 114 in Europe, 97 in Middle East and Africa, 103 Segments primarily include geographic regions, 84 Segments primarily include lines of business, 84 SIC-31 Revenue–Barter Transactions Involving Advertising Services, 52 Singapore Financial Reporting Standards (International) (SFRS(I)), 14 Singapore Standards on Auditing, 130 Single segment, 84 Skyteam, 13 Solvency ratios, 73–75 Sri Lanka Auditing Standards, 130 Sri Lanka Financial Reporting Standards, 14 Star Alliance, 13 Statement of comprehensive income (SOCI), 25, 39, 40, 48 Statement of profit or loss and other comprehensive income (SOPLOCI), 39–40 Statement of Recognized Income and Expense (SORIE), 23, 40 Straight-line method, 29, 45, 49 Thai Airways International, 14–15 Thai Financial Reporting Standards, 14 Total assets, 33, 86 Total liabilities, 86 Traditional income statement, 25, 36 Translation of Long-Term Foreign Currency Borrowings, 28 Turkish Auditing Standards (TAS), 129 Turkish Financial Reporting Standards (TFRS), 11 Two-statement approach, 23 Uniformity, 24, 28–29, 48 United Arab Emirates (UAE), 8–9 United States Generally Accepted Accounting Principles (US GAAP), 5 Units of production, 29 US Securities Exchange Commission (SEC), 9 VietJet, 15 Vietnamese Accounting Standards, 14 Volaris, 9, 94, 95 Voluntary disclosures of AF-KLM, 80 Weighted average (WA), 23 WestJet, 9, 140 Whole business, 84, 90, 95, 101, 107, 112, 117 Book Chapters Prelims Part I: International Financial Reporting Chapter 1: Overview of Financial Reporting in the Airline Industry Chapter 2: Some Observations on IFRS Accounting Policy Choices: The Case of the Airline Industry Chapter 3: Some Observations on IFRS 15 and IFRS 16 in the Airline Industry: The Case of Air France – KLM Chapter 4: Some Observations on IFRS 8 Operating Segments: The Case of the Airline Industry Part II: International Auditing Chapter 5: Some Observations on International Auditing: The Case of the Airline Industry References Index
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