Question

FY 2019 financial reports of two airline companies are available at the following links. JAZEERA AIRWAYS CO. https://cis.boursakuwait.com.kw/Portal/FData/654_BL_2019_9_E_1420209135602.pdf QATAR AIRWAYS https://www.qatarairways.com/content/dam/documents/annualreports/2019/Qatar%20Airways%20FS%2031%20March%202019%20(EN).pdf

REQUIRED:

a) Write their revenue recognition policies of the firms for each type of revenue (i.e. passenger, cargo, duty free etc.)

b) Compare their policies on a table and indicate the differences (if there is any).

c) If you would like to make adjustments to Aljazeera Airways revenue item on the income statement considering that Qatar Airways' revenue recognition policy represents the good application in the industry, which accounts on the balance sheet and income statement of AlJazeera would be adjusted. Just tell the names of accounts. No calculation needed.