Welcome! This is the third anniversary of my general aviation writing on wikiWings® and the modest goal continues – publish one article each Friday morning.
Last year’s season began with articles on Cost of Ownership. It’s a topic of interest for many visitors to wikiWings®. A primary focus is Cirrus Aircraft operating cost, but many of the posts also relate to GA flying. There are now more than 50 detailed posts on the cost to fly.
You can view all cost of flying articles in chronological order by selecting categories on the wikiWings home page. Category selection is located in the upper right hand margin. Just click on “Cost of Ownership” in the drop-down menu. Continue reading “Wheels Up! 2016”→
A co-owned airplane should list the net aircraft value on the balance sheet . The initial value is usually the acquisition price or market value; which is determined when a buyer and seller come to agreement on a transaction. That price is usually adjusted on the balance sheet for depreciation. Continue reading “How do you list aircraft value on the balance sheet?”→
Most shared airplane ownerships will want to set aside money for funded reserves. The purpose is to offset future outlays associated with engine replacement, prop overhaul, and items such as, Cirrus Airframe Parachute System.
You’ll find it easier, from a book keeping perspective, if you keep funded reserves in a savings account instead of co-mingling the funds with money in a checking account.
I’ll admit, sometimes the asset listing on a balance sheet can look confusing. Over the next several weeks, I’ll explain the detail behind four typical asset categories shown on a shared airplane ownership balance sheet: