Aircraft Operations Accounting
Aircraft owners shun surprises for two reasons: They decrease available aircraft usage time, and they’re expensive. JMA’s clients employ our services because they’re uncomfortable with their present accounting product, whether produced in-house or by their management company. In these cases, we review the package and offer a customized reporting solution, which serves the summary needs of our principals, while meeting the financial needs of their financial representatives.
Some reports we produce for our clients:
- A full suite of standard financial statements
- Reports highlighting material operating cost categories like average cost per gallon/room night/direct operating cost per hour
- Comprehensive vendor list and back-up
Our clients also ask us to audit their management company’s accounting of Part 91 and Part 135 operations. Each month, we review all aircraft operations accounting documentation, to ensure that clients are being provided with the most accurate information—including being paid out properly on Part 135 charter operations.
Some of our audit reports include:
- pilot expenses
- flight logs
- fuel charges
- payroll analysis