Goto Section: 32.15 | 32.17 | Table of Contents

FCC 32.16
Revised as of September 1, 2021
Goto Year:2020 | 2022
  §  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 § 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: 2020 | 2022
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