Goto Section: 32.103 | 32.1170 | Table of Contents
FCC 32.1120
Revised as of October 1, 2013
Goto Year:2012 |
2014
§ 32.1120 Cash and equivalents.
(a) This account shall include the amount of current funds available
for use on demand in the hands of financial officers and agents,
deposited in banks or other financial institutions and also funds in
transit for which agents have received credit.
(b) This account shall include the amount of cash on special deposit,
other than in sinking and other special funds provided for elsewhere,
to pay dividends, interest, and other debts, when such payments are due
one year or less from the date of deposit; the amount of cash deposited
to insure the performance of contracts to be performed within one year
from date of the deposit; and other cash deposits of a special nature
not provided for elsewhere. This account shall include the amount of
cash deposited with trustees to be held until mortgaged property sold,
destroyed, or otherwise disposed of is replaced, and also cash realized
from the sale of the company's securities and deposited with trustees
to be held until invested in physical property of the company or for
disbursement when the purposes for which the securities were sold are
accomplished.
(c) Cash on special deposit to be held for more than one year from the
date of deposit shall be included in Account 1410, Other noncurrent
assets.
(d) This account shall include the amount of cash advanced to officers,
agents, employees, and others as petty cash or working funds from which
expenditures are to be made and accounted for.
(e) This account shall include the cost of current securities acquired
for the purpose of temporarily investing cash, such as time drafts
receivable and time loans, bankers' acceptances, United States Treasury
certificates, marketable securities, and other similar investments of a
temporary character.
(f) Accumulated changes in the net unrealized losses of current
marketable equity securities shall be included in the determination of
net income in the period in which they occur in Account 7300, Other
Nonoperating Income and Expense.
(g) Subsidiary record categories shall be maintained in order that the
entity may separately report the amounts of temporary investments that
relate to affiliates and nonaffiliates. Such subsidiary record
categories shall be reported as required by part 43 of this chapter.
[ 67 FR 5681 , Feb. 6, 2002]
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Goto Section: 32.103 | 32.1170
Goto Year: 2012 |
2014
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