 |
Code of Federal Regulations (Last Updated: May 6, 2024) |
 |
Title 18 - Conservation of Power and Water Resources |
|
Chapter I - Federal Energy Regulatory Commission, Department of Energy |
|
SubChapter C - Accounts, Federal Power Act |
|
Part 101 - Uniform System of Accounts Prescribed for Public Utilities and Licensees Subject to the Provisions of the Federal Power Act |
|
Subpart A - Uniform System of Accounts Prescribed for Public Utilities and Licensees Subject to the Provisions of the Federal Power Act |
§ 101.439 - Adjustments to retained earnings.
-
A. This account shall, with prior Commission approval, include significant nonrecurring transactions accounted for as prior period adjustments, as follows:
(1) Correction of an error in the financial statements of a prior year.
(2) Adjustments that result from realization of income tax benefits of pre-acquisition operating loss carryforwards of purchased subsidiaries.
All other items of profit and loss recognized during a year shall be included in the determination of net income for that year;
B. Adjustments, charges, or credits due to losses on reacquisition, resale or retirement of the company's own capital stock shall be included in this account. (See account 210, Gain on Resale or Cancellation of Reacquired Capital Stock, for the treatment of gains.)
Operating Revenue Accounts