QFF Accounting

[Chucksta]

Does anyone know how Qantas accounts for FF points?

Does it treat it like a liability on their balance sheet?

Does anyone know which AASB standard covers FF points for airlines?

thanks,

Chucksta

PS: This is for a Masters level assignment..

 

[PaulZ]

Does anyone know how Qantas accounts for FF points?

Does it treat it like a liability on their balance sheet?

Does anyone know which AASB standard covers FF points for airlines?

thanks,

Chucksta

PS: This is for a Masters level assignment..

For a student doing a masters degree i would have thought you would have considered having a quick look at the Qantas Annual Report??

http://www.qantas.com.au/infodetail/about/investors/AnnualReport2006.pdf
Their policy is explained in the Notes to the Financial Statements:
1. Statement of Signifi cant Accounting Policies: Note U, Page 81


Do a search in the acrobat document for "frequent flyer" or "point"... you will get many relevant results when you get to the crux of the document, past page 41.

Paul

 

[kyle]

AASB 137 Provisions, Contingent Liabilities and Contingent Assets?