Goto Section: 32.12 | 32.14 | Table of Contents

FCC 32.13
Revised as of October 1, 2009
Goto Year:2008 | 2010
  §  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]


Goto Section: 32.12 | 32.14

Goto Year: 2008 | 2010
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