16 CRR-NY 181.5NY-CRR
16 CRR-NY 181.5
16 CRR-NY 181.5
181.5 Accounting to be on accrual basis.
(a) The utility is required to keep its accounts on the accrual basis. This requires the inclusion in its accounts on an estimated basis of all known transactions of appreciable amount which affect the accounts, even though bills covering such transactions have not been received or rendered. When the bills are received or rendered, appropriate adjustments shall be made.
(b) Also when payments are made for items such as insurance, rents, taxes, or interest, the amount applicable to future periods shall be charged to account 1132, Prepayments, and spread over the periods to which applicable by credits to account 1132, Prepayments, and charges to the accounts appropriate for the expenditure.
16 CRR-NY 181.5
Current through February 28, 2023
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.