Goto Section: 32.3999 | 32.4040 | Table of Contents

FCC 32.4000
Revised as of October 2, 2015
Goto Year:2014 | 2016
§ 32.4000   Current accounts and notes payable.

   (a) This account shall include:

   (1) All amounts currently due to others for recurring trade obligations, and
   not provided for in other accounts, such as those for traffic settlements,
   material and supplies, repairs to telecommunications plant, matured rents,
   and  interest  payable  under monthly settlements on short-term loans,
   advances, and open accounts. It shall also include amounts of taxes payable
   that have been withheld from employees' salaries.

   (2) Accounts payable arising from sharing of revenues.

   (3) The face amount of notes, drafts, and other evidences of indebtedness
   issued or assumed by the company (except interest coupons) which are payable
   on demand or not more than one year or less from date of issue.

   (b) If any part of an obligation, otherwise includable in this account
   matures more than one year from date of issue, it shall be included in
   Account 4200, Long term debt and funded debt, or other appropriate account.

   (c) The records supporting the entries to this account shall be kept so that
   the company can furnish complete details as to each note, when it is issued,
   the consideration received, and when it is payable.

   (d) Subsidiary record categories shall be maintained for this account in
   order that the company may separately report the amounts contained herein
   that  relate  to  nonaffiliates and affiliates. Such subsidiary record
   categories shall be reported as required by part 43 of this chapter.

   [ 67 FR 5688 , Feb. 6, 2002]

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Goto Section: 32.3999 | 32.4040

Goto Year: 2014 | 2016
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