Goto Section: 32.15 | 32.17 | Table of Contents
FCC 32.16
Revised as of October 1, 2006
Goto Year:2005 |
2007
Sec. 32.16 Changes in accounting standards.
(a) The company's records and accounts shall be adjusted to apply new
accounting standards prescribed by the Financial Accounting Standards Board
or successor authoritative accounting standard-setting groups, in a manner
consistent with generally accepted accounting principles. The change in an
accounting standard will automatically take effect 90 days after the company
informs this Commission of its intention to follow the new standard, unless
the Commission notifies the company to the contrary. Any change adopted
shall be disclosed in annual reports required by Sec. 43.21(f) of this chapter
in the year of adoption.
(b) The changes in accounting standards which this Commission approves will
not necessarily be binding on the ratemaking practices of the various state
commissions.
[ 51 FR 43499 , Dec. 2, 1986, as amended at 64 FR 50007 , Sept. 15, 1999; 67 FR 5679 , Feb. 6, 2002]
Goto Section: 32.15 | 32.17
Goto Year: 2005 |
2007
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