PROFIT RETURN IN CIVIL AVIATION AND FLEET INSURANCE: GAAP, FINANCIAL REPORTING AND TAX APPLICATIONS

Onder Kaymaz and Ozgur Kaymaz

Review of Business and Finance Studies, 2015, vol. 6, issue 2, 45-57

Abstract: In the civil aviation market, unique insurance types are available. This market encompasses a small number of insurers who have the capacity to insure large fleet portfolios. Profit return is the portion of the insurance premium returned to the insured depending on the insurance contract. This paper examines the concept of profit return as used by civil aviation companies along with the scrutiny of accounting and tax applications implemented by Turkish civil aviation companies regarding aviation insurance premia. This work has particular implications on International Accounting Standards, Generally Accepted Accounting Principles (GAAPs) and Financial Reporting for a particular setting.

Keywords: Recognition; Disclosure; International Accounting Standards (IASs); International Financial Reporting Standards (IFRSs); Financial Reporting; Civil Aviation; Profit Return (search for similar items in EconPapers)
JEL-codes: M40 M41 M48 M49 (search for similar items in EconPapers)
Date: 2015
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