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Complete Case details are given below :
Case Name : Now You See It, Now You Do Not: The Case Of Jet Airways And Its Accounting Policies
Authors : Padmini Srinivasan
Discipline : Accounting
Case Length : 12 pages
Solution sample availability : YES
Plagiarism : NO (100% Original work)
Description for case is given below :
The case highlights issues arising from changes in accounting policies followed by Jet Airways during the accounting year ended March 31, 2009. During the first quarter ended June 30, 2008, Jet Airways changed its accounting policy of charging depreciation from written down value method to straight line method on certain aircraft, which resulted in a writeback of excess depreciation of Rs. 9159 million. The company adopted an accounting policy that capitalized and deferred the losses arising out of certain foreign currency exchange difference instead of charging it to the income statement. They had also revalued some of their assets in the previous year. Airline companies have significant fixed assets, and therefore the accounting for depreciation is important. The accounting policy choice that the company makes impacts not only profits and asset values for the current year but those of future years.
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