14 CFR 241.2-5 - Revenue and accounting practices.

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Sec. 2-5 Revenue and accounting practices.
(a) Revenue accounting practices shall conform to the provisions of account 2160, Air Traffic Liability.
(b) Each route air carrier shall physically verify the reliability of its passenger revenue accounting practice at least once each accounting year.
(c) For those carriers who use the yield or average-fare method to determine earned revenue, the analysis supporting the verification shall include:
(1) The cutoff date for the liability to be verified; such cutoff date shall be at the end of a calendar month.
(2) The number of months after the cutoff date during which documents were examined to verify the liability; the number of months after the cutoff date during which documents are examined shall not exceed the maximums set forth below:
Class of carrier Maximum months 1
1 Applies only to carriers on a yield or average-fare basis.
TWA 18
Trunks (except TWA) 12
All other route air carriers 6
(3) The nature of the documents which were examined for purposes of the verification.
(4) The totals for each of the various types of documents examined, on actual or sampling basis.
(5) A description of the sampling technique and conversion to totals, if sampling was employed.
(6) The amount and basis for all estimates employed in the verification.
(7) The amount of resulting adjustments and the quarter in which such adjustments were, or are to be, made in the accounts.
(d) For those carriers who use the sales-lift match method to determine earned revenue, the analysis supporting the physical inventory verification shall include:
(1) The cutoff date for the liability to be verified; such cutoff date shall be at the end of a calendar month.
(2) A trial balance as of the cutoff date of all subaccounts supporting the Air Traffic Liability control account; the subsidiary trial balance must agree with the Air Traffic Liability control account or a reconciliation statement furnished.
(3) A statement to the effect that a sales listing of the value of all unmatched auditor coupons has been compiled and compared to the general ledger control figure; the statement required by this subparagraph shall indicate whether or not the value of the unmatched coupons is in agreement with the general ledger. If the sales listing is not in agreement with the Air Traffic Liability control account, the amount of such difference shall be shown on such statement.
[ER-948, 41 FR 12290, Mar. 25, 1976, as amended by ER-1401, 50 FR 238, Jan. 3, 1985. Redesignated at Amdt. 241-58, 54 FR 5592, Feb. 6, 1989; 60 FR 66725, Dec. 26, 1995]

Title 14 published on 2014-01-01

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United States Code
U.S. Code: Title 49 - TRANSPORTATION

§ 329 - Transportation information

§ 41101 - Requirement for a certificate

§ 41102 - General, temporary, and charter air transportation certificates of air carriers

§ 41103 - All-cargo air transportation certificates of air carriers

§ 41104 - Additional limitations and requirements of charter air carriers

§ 41105 - Transfers of certificates

§ 41106 - Airlift service

§ 41107 - Transportation of mail

§ 41108 - Applications for certificates

§ 41109 - Terms of certificates

§ 41110 - Effective periods and amendments, modifications, suspensions, and revocations of certificates

§ 41111 - Simplified procedure to apply for, amend, modify, suspend, and transfer certificates

§ 41112 - Liability insurance and financial responsibility

§ 41113 - Plans to address needs of families of passengers involved in aircraft accidents

§ 41701 - Classification of air carriers

§ 41702 - Interstate air transportation

§ 41703 - Navigation of foreign civil aircraft

§ 41704 - Transporting property not to be transported in aircraft cabins

§ 41705 - Discrimination against handicapped individuals

§ 41706 - Prohibitions against smoking on passenger flights

§ 41707 - Incorporating contract terms into written instrument

§ 41708 - Reports

§ 41709 - Records of air carriers

§ 41710 - Time requirements

§ 41711 - Air carrier management inquiry and cooperation with other authorities

§ 41712 - Unfair and deceptive practices and unfair methods of competition

§ 41713 - Preemption of authority over prices, routes, and service

§ 41714 - Availability of slots

§ 41715 - Phase-out of slot rules at certain airports

§ 41716 - Interim slot rules at New York airports

§ 41717 - Interim application of slot rules at Chicago O’Hare International Airport

§ 41718 - Special rules for Ronald Reagan Washington National Airport

§ 41719 - Air service termination notice

§ 41720 - Joint venture agreements

§ 41721 - Reports by carriers on incidents involving animals during air transport

§ 41722 - Delay reduction actions

§ 41723 - Notice concerning aircraft assembly