Goto Section: 32.12 | 32.14 | Table of Contents

FCC 32.13
Revised as of October 2, 2015
Goto Year:2014 | 2016
§ 32.13   Accounts—general.

   (a)  As a general rule, all accounts kept by reporting companies shall
   conform in numbers and titles to those prescribed herein. However, reporting
   companies may use different numbers for internal purposes when separate
   accounts (or subaccounts) maintained are consistent with the title and
   content of accounts and subaccounts prescribed in this system.

   (1) A company may subdivide any of the accounts prescribed. The titles of
   all such subaccounts shall refer by number or title to the controlling
   account.

   (2) A company may establish temporary or experimental accounts without prior
   notice to the Commission.

   (b) Exercise of the preceding options shall be allowed only if the integrity
   of the prescribed accounts is not impaired.

   (c) As of the date a company becomes subject to the system of accounts, the
   company is authorized to make any such subdivisions, reclassifications or
   consolidations  of  existing  balances  as  are  necessary to meet the
   requirements of this system of accounts.

   (d) Nothing contained in this part shall prohibit or excuse any company,
   receiver, or operating trustee of any carrier from subdividing the accounts
   hereby prescribed for the purpose of:

   (1)  Complying with the requirements of the state commission(s) having
   jurisdiction; or

   (2) Securing the information required in the prescribed reports to such
   commission(s).

   (e) Where the use of subsidiary records is considered necessary in order to
   secure the information required in reports to any state commission, the
   company shall incorporate the following controls into their accounting
   system with respect to such subsidiary records:

   (1) Subsidiary records shall be reconciled to the company's general ledger
   or books of original entry, as appropriate.

   (2) The company shall adequately document the accounting procedures related
   to subsidiary records.

   (3) The subsidiary records shall be maintained at an adequate level of
   detail to satisfy state regulators.

   [ 51 FR 43499 , Dec. 2, 1986, as amended at  65 FR 16334 , Mar. 28, 2000;  67 FR 5679 , Feb. 6, 2002]

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Goto Section: 32.12 | 32.14

Goto Year: 2014 | 2016
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