AircraftLogs.com and Aviation Financial Consulting have launched a new service for corporate flight departments called “Aircraft Compliance Solutions,” which provides companies operating business jets with simplified reporting solutions for aircraft utilization, IRS and FAA compliance.
Public companies can also use Aircraft Compliance Solutions to support financial statement disclosures in SEC filings, company officials note.
“Tracking aircraft flight records can create a lot of rework in the financial departments of large companies. Usually, the individual flight records of company aircraft are recreated several times, by different departments and in different spreadsheets, to ensure proper reporting and compliance. It’s inefficient and can get complicated.” said Glenn Hediger, president of Aviation Financial Consulting. “Most of all, it’s unnecessary because the outputs desired by the different users are derived from one set of data — the flight logs.”
The new service allows companies to manage their aviation records within the AircraftLogs system with oversight by Aviation Financial Consulting. The required calculations and reporting needs are generated from one integrated database. Aviation Financial Consulting also reviews the company’s results on a monthly or quarterly basis.
For more information: AircraftLogs.com or 703-346-1449.