47 C.F.R. § 32.16

Changes in accounting standards

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(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.

[51 FR 43499, Dec. 2, 1986, as amended at 64 FR 50007, Sept. 15, 1999; 67 FR 5679, Feb. 6, 2002]

Notes of Decisions

Cited in 2 cases, 1994–2006 · leading case: Qwest Corp. v. New Mexico Pub. Reg. Comm'n, 2006 NMSC 042 (N.M. 2006).

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Qwest Corp. v. New Mexico Pub. Reg. Comm'n, 2006 NMSC 042 (N.M. 2006). “” 47 C.F.R. § 32.16 (b) (2002). Therefore, the FCC’s adoption of SOP 98-1 is not necessarily binding on the PRC.”

Sw. Bell Tel. Co. v. Fed. Commc'ns Comm'n, 28 F.3d 165 (D.C. Cir. 1994). “See 47 CFR § 32.16 . For both types of accounting changes, the Commission’s mandate brings about the change and demonstrates that the carriers lacked control.”

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