ACCOUNTING ASSIGNMENT

British Airways

British Airways

Introduction

British Airways (BA) is the British flag carrier airline, based near London Heathrow Airport, the main hub of the Gulf. British Airways, the national carrier in the United Kingdom, achieved growth in the number of passengers during the first month of 2011. Despite that the year 2010 was full of challenges faced by the civil aviation sector. The growth has been encouraged by the launch of Hotel discounts on the degree of Club World (business class) on the lines of the Middle East to Europe and North America (Wilson, 2010: 14).

British Airways Board was established in 1971. It started with the control of state-owned airline on the river Tyne, United Kingdom overseas and BEA, two smaller regional airlines, from Cardiff, and Newcastle Cold Air Northeast Airlines two. On the 31st of March, 1974 four companies were dissolved, to form British Airways (BA). After nearly 13 state-owned enterprises, the British Airways was privatized in February 1987 as part of the privatization by the then Conservative government. Carriers to expand and British Caledonian (BCAL) and Gatwick rapidly in 1987, major airlines in 1992 was acquired by Dan. (Rowley, 2010: 19)

Factors influencing an opinion on the financial statements of the British Airways plc for 2010

Requirements of the UK version of ISA 700/705/706

These requirements simply provide with the guidelines that are necessary to be followed by the auditors. It includes responsibility of auditors, that have been designated by the International Searching Authority and described in the short form (UK) to read the annual reports and recognize significant differences between the financial statements of all financial and non-financial information. On the website of the APB (the auditor may choose to refer to the auditor's report) to keep the description of the scope of the audit has been revised to a generic description that can be applied to any entity. (Lavery, 2005: 34)

The ISA in the UK has been on display in the above paragraph, a brief description of the importance of these requirements are based on demand requirements, to show the consistency of the material, and financial and non-financial information from the financial statements are inconsistent. (Gray & Manson, 2007)

British Airline is the national flag carrier in the UK. In terms of international destinations, fleet size and the number of destination, it is the largest airline in the UK. British Airways is the merger of Cambrian Airways, BOAC, Northeast Airlines, and BEA. This merger took place in the year 1974. The company got sold as a part of the privatization policy after thirteen years of remaining a public company (BA 2010, p. 2). The major carriers of British Airways come from Boeing. It is planning to merge with Iberia which is the Spanish flag carrier airline. The merger of the two will make the airline the second largest in the region and third largest in the world in terms of revenue. British Airways is involved in the business of air freight, air mail, carriage of passengers, and other ancillary ...