Deposit for new aircraft - should not impact Profit. Is this correct?

Started by ACfly, December 31, 2010, 01:07:11 AM

ACfly

Hi,

Quick question - I purchased several new aircrafts which have 2 year delivery date. The manufacturer demands a deposit from me. So that I  thinking correctly - this has no impact on my Income only cash, and is not included in the tax calculation.. is this correct?

The Income impact would only come in 2 years when I receive the aircraft.

schro

Accounting in this game is cash basis, so your deposit will count against current period income.

Threw are many threads in. the forum discussing the inadequacy of the accounting in the sim and it is on sami's to do list to fix