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Author Topic: Aircraft value is also not counted to your overall company value while aircraft.  (Read 183 times)

Online ChuckPerry

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Aircraft value is also not counted to your overall company value while aircraft is in storage.... Why is this?  Just because you store a piece of equipment (an aircraft in this instance) you still own it and it should still reflect on your balance sheet as an asset and you should still be able to use it as an asset for a loan....  This is normal accounting practice..

Offline Matt Elphick

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In storage the plane may lose maintence and so will lose value so will be harder to calculate the value wheras when in service it is properly maintained so will have a guaranteed value

Online ChuckPerry

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I understand that.. but that shouldn't totally wipe it off the balance sheet.... It's not going to lose THAT much value... Acft age and total cycles (landings) would be more of a factor than if it has a current "B" check or not..
« Last Edit: August 23, 2016, 01:10:39 AM by ChuckPerry »

Offline Matt Elphick

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The person who likes this post:
I agree but without valid maintence the plane is useless and you can't use it. I think that is what Sami means when he created the system

Offline schro

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I agree with Chuck Perry that stored planes need to remain in the assets and CV allocation as no expense is being recorded when they are stored. This means our books are cooked with that improper adjustment being made.

I agree but without valid maintence the plane is useless and you can't use it. I think that is what Sami means when he created the system

No. That's not at all what he was thinking when he created that rule. That was to prevent folks from padding CV by storing planes as a game mechanic and it has zero relationship to any sort of "reality" about a plane having valid maintenance. This was done prior to the implementation of the current accounting system.

 

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