Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 17 - Commodity and Securities Exchanges |
Chapter II - Securities and Exchange Commission |
Part 256 - UNIFORM SYSTEM OF ACCOUNTS FOR MUTUAL SERVICE COMPANIES AND SUBSIDIARY SERVICE COMPANIES, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 |
6. long-term debt |
§ 256.225 - Unamortized premium on long-term debt.
Latest version.
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(a) This account shall include the excess of the cash value of consideration received over the face value upon the issuance or assumption of long-term debt securities.
(b) Amounts recorded in this account shall be amortized over the life of each respective issue under a plan which will distribute the amount equitably over the life of the security. The amortization shall be on a monthly basis, with the amounts thereof to be credited to account 427, Interest on long-term debt, or account 431, Other interest expense.