San Francisco International Airport (SFO) in 2012

San Francisco International Airport (SFO) in 2012

Introduction

(SFO) San Francisco International Airport is one of the best commercial airport of the United States of America that is mainly situated in the city and city council of San Francisco, operating with the aim of provide excellent services to its customers. In addition to this, it is also termed as the Gateway of Pacific” and has known to provide services to more than 41 million customer's on yearly basis (San Francisco International Airport, 2012), (Freeman, et al, 2012).

This airport is known to provide excellent security to its customers. Moreover, due to its quality services and mission oriented approach the airport and its staff are considered as the pioneer in the airport industry that have able to lead by example in all form of business activities. In addition, because of this airport was in recent times awarded by the “Healthiest place to work in the Bay Area” by one of leading business entity of the United States (Freeman, et al, 2012).

San Francisco International Airport follows general accounting principles as set by the Governmental Accounting Standards (GASP), and further, the airport financial management applies Financial Accounting Standard board (FASB) to construct all of its financial statements. These accounting standards helps the authority of the management of present their financial analysis in detailed and descriptive form (San Francisco International Airport, 2012).

Discussion

Major Assets and Liabilities of SFO

The significant Assets of the SFO includes it is all cash and cash equivalent items, investments, and its certain portion of non-cash items. The airport authority keeps all of these assets in city's pool of treasury. Further the financial department also allocates any income or loss earned from it cash investment on yearly basis to required entities

Whereas major liabilities of the airport includes all of its current liabilities like, account payable that the organization has to pay to its creditors on the short run, and all the long term liabilities that are getting matured in the current fiscal years.

The entire financial instruments discussed above are an important source to run an organization as they describe current activities, its performance in the current period, and positive hopes for the stakeholders (San Francisco International Airport, 2012).

Operational results of SFO

San Francisco International airport is performing at its peak and that can be observed from its growth in the operational sector, for instance in the fiscal year ...