47 CFR 32.16
§ 32.16 Changes in accounting standards.
United States · 47 CFR — Telecommunication · Status: effective
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- Citation
- 47 CFR 32.16, § 32.16 Changes in accounting standards, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/235231
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Full text
(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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.