International Business Management Master Essay

International Business Management Master - Essay ExamplePassenger revenue is initially recorded as a liability for gross revenue in advance of carriage, with revenue from ticket sales recognised at the metre that the Company provides the transportation. In respect of unused ticket revenue recognised, estimations atomic number 18 needed based on historical trends regarding liability for tickets sold but not yet processed, the timing and amount of tickets used for travel on different(a) airlines and the amount of tickets sold that will not be used. These atomic number 18 used to determine the timing and amount of unused ticket revenue recognised. Changes to these estimation methods could abide a material effect on the presentation of the financial results. Periodic evaluations are performed of the estimated liability for tickets sold but not yet processed. Any adjustments, which goat be significant, are included in results of operations for the periods in which the evaluations a re completed. These adjustments relate primarily to differences between the statistical estimation of certain revenue transactions and the related sales price as well as refunds, exchanges, interline transactions and other items for which final settlement occurs in periods subsequent to the sale of the related tickets at amounts otherThe Companys charge business is operated as a contribution centre. ... This allows the maximisation the use of its scheduled route network to provide a worldwide lode service. The management group utilises trucks to feed cargo to its major hubs in Europe and the United States.Revenue is recognised when the transportation service is provided. Passenger ticket and cargo waybill sales, net of discounts, are recorded as current liabilities in the sales in advance of carriage account until recognised as revenue. Unused tickets are recognised as revenue using estimates regarding the timing of recognition based on the terms and conditions of the ticket and historical trends. Other revenue is recognised at the time the service is provided.Commission costs are recognised at the same time as the revenue to which they relate and are charged to cost of sales.Employee benefits, including pensions and other post-retirement benefits (principally post-retirement healthcare benefits) are presented in these financial statements in accordance with IAS 19 - Employee Benefits. For the Groups defined benefit casts, post-retirement obligations are measured at discounted present value whilst plan assets are measured at fair value at the balance sheet date. The cost of current service costs are recognised in the income statement so as to recognise the cost of providing the benefit on a straight line basis over the service lives of the employees using the intercommunicate unit credit method. Past service costs are recognised when the benefit has been given. The financing cost and expected return on plan assets are recognised within financing costs in the periods in which they arise. The accumulated effect of changes in estimates, changes in