Updated Airline Industry Guide Available

The AICPA issued the Audit and Accounting Guide Airlines, which provides the latest information on accounting and auditing issues affecting the airline industry. The guide addresses a number of new transactions and issues that have emerged over the years, including frequent flyer programs, electronic ticketing, revenue breakage, power-by-the hour maintenance arrangements, amendable labor contracts, and airline intangible assets.


Chapters of the guide are dedicated specifically to air cargo and regional carriers, and auditing sections include exhibits that provide examples of substantive audit procedures and cover significant accounts unique to the airline industry and related controls. The guide also reflects Statement on Auditing Standards no. 104 through no. 111, commonly referred to as the risk assessment standards.


The guide is available for purchase at www.cpa2biz.com (product #012698).


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.