Airlines Insider is a well-respected publication for the airline industry. The publication prescribes a certain accounting treatment which differs from what is indicated in the Codification. How should this be handled?
A) Follow the treatment discussed in Airlines Insider.
B) Follow the treatment discussed in the Codification.
C) Choose whichever treatment is most conservative.
D) Create a blend of the two treatments.

Question

Quizplus · Accepted Answer

The Codification is the authoritative source for accounting standards, and its guidance should be followed over non-authoritative sources like industry publications.

Airlines Insider Is a Well-Respected Publication for the Airline Industry