§ 352.680 - Extraordinary items (net).

Related Notices
- 03-9260. Final rule. 03-9260. Accounting, Financial Reporting, and Rate Filing Requirements for Asset Retirement Obligations
- 02-28294. Notice of proposed rulemaking. 02-28294. Accounting, Financial Reporting, and Rate Filing Requirements for Asset Retirement Obligations

Latest version.

(a) This account shall include extraordinary items accounted for during the current accounting year in accordance with the text of instruction 1-6, upon submission of a letter from the carrier's independent accountants, approving or otherwise commenting on the item and upon approval by the Commission.

(b) This account shall be maintained in a manner sufficient to identify the nature and gross amount of each debit and credit.

(c) Federal income tax consequences of charges and credits to this account shall be recorded in account 695, Income Taxes on Extraordinary Items, or account 696. Provision for Deferred Taxes—Extraordinary Items, as applicable.

                    
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