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Course Detail: CIAA - Contemporary Issues in Aviation Accounting
Overview
COMING SOON! The Contemporary Issues in Aviation Accounting Course is designed to address and provide an understanding of selected accounting topics for those individuals engaged in the accounting function in the aerospace industry. Areas include accounting for aircraft acquisition and depreciation, aircraft maintenance, revenue recognition, aircraft leasing, derivatives, and aviation accounting metrics. The use of current readings, discussions, quizzes, and the solving of exercises and problems will be utilized throughout the course.
The Contemporary Issues in Aviation Accounting course can be taken independently, or toward the Certificate of Management in Aviation Accounting and Finance.
What You Will Learn
Upon completing this course, students will be able to:
- Identify and evaluate aircraft acquisition methods, depreciation, and impairment
- Define and examine maintenance accounting, maintenance reserves, and maintenance data sources
- Describe and analyze airline revenue recognition and aircraft leasing
- Identify and critique derivatives and hedging activities
Key Topics
- Aircraft Acquisition and Depreciation
- Maintenance Accounting
- Revenue recognition under IFRS and U.S. GAAP
- Airline Revenue Recognition and Aircraft Leasing
- Derivatives and Aviation Accounting Metrics
Course Learning Objectives
1. Identify aircraft acquisition methods (LO1)
2. Recognize aircraft component parts (LO1)
3. Define aircraft depreciation (LO1)
4. Define income tax depreciation (LO1)
5. Distinguish between aircraft impairment under U.S. GAAP and IFRS (LO1)
6. Identify maintenance reserves (LO2)
7. Recognize sources of maintenance data (LO2)
8. Identify aspects of maintenance reserve economics (LO2)
9. Define maintenance contract management (LO2)
10. Recognize maintenance status and aircraft value (LO2)
11. Identify accounting for maintenance reserves (LO2)
12. Interpret revenue recognition under U.S. GAAP and IFRS (LO3)
13. Identify and discuss revenue recognition for topics in the airline industry (LO3)
14. Distinguish between the types of aircraft leases (LO3)
15. Review the accounting guidance for leases under U.S. GAAP and IFRS (LO3)
16. Identify contemporary issues in aircraft leasing (LO3)
17. Recognize derivatives used to hedge against risk (LO4)
18. Define accounting for derivatives (LO4)
19. Identify the differences between U.S. GAAP and IFRS (LO4)
20. Define disclosure requirements (LO4)
21. Define hedging in the airline industry (LO4)
Who Should Attend
As accounting and finance affects a variety of individuals and departments, professionals working in various capacities across the transportation industry can benefit from this knowledge including:
- CPAs
- Aviation Accountants
- Accountants
- Insurance Professionals
- Aircraft Acquisition Managers
- Aircraft Appraisers
- Tax Professionals
- Audit & Assurance Professionals
- Finance Consultants
Continuing Education Units (CEUs)
Embry-Riddle will award the 4.0 Continuing Education Units (CEUs) to each attendee who successfully completes the course.
NASBA Continuing Professional Education
The learner will earn 20 CPE credits in the National Association of State Boards of Accountancy (NASBA) Field of Study: Accounting.
Embry-Riddle Aeronautical University is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org
Course Format
Course delivery will be a Blended Learning offering including both asynchronous and synchronous components comprised of various instructional strategies, such as readings, narrated PowerPoint videos, discussion boards, and synchronous online meetings. The best of both worlds ~ an online asynchronous self-paced course with access to a subject matter expert. Program knowledge level is identified as basic, with no required advance preparation or prerequisites. Requirements include a reliable internet connection to access the course and its materials, access to Microsoft Excel or equivalent spreadsheet-creation software, and approximately 40 hours of study.
In meeting requirements for awarding NASBA CPE Basic credit, student performance is assessed by online discussion participation and quizzes. An overall grade of 70% is required to pass the course and apply it toward the Certificate of Management in Aviation Accounting and Finance. All quizzes provide two attempts. If additional attempts are needed, a request can be submitted to the instructor.
Registration Information
The preferred method of payment is credit-card at the time of registration. If you are paying by another method of payment (wire-transfer, employer voucher, check/PO), please 'Create Profile' from the left menu and then contact Daytona Beach ProEd to submit a registration request. Please note registrations are not guaranteed until payment is received in full.
Cancellation and Refund Policy
A cancellation charge of $50 will be assessed on any standard cancellations. A late cancellation charge of 25% of the course registration fee will be assessed on cancellations occurring within 14 days of the start of the course. For more information regarding administrative policies such as complaints and refunds, please contact our offices at 386 226 6928 or dbproed@erau.edu
For additional information, please review the detailed cancellation, deferment, no-show and refund policies.
Contact Us
For questions on the Certificate of Management in Aviation Accounting and Finance and related courses, please contact dbproed@erau.edu or 386 226 6928.