Cal. Code Regs. tit. 10 § 50.5
In this Subchapter, and the Business and Industrial Development Corporations Law, all references to financial statements and all references to assets, liabilities, earnings, retained earnings, shareholders' equity, and similar accounting items mean such financial statements and such accounting items prepared or determined in conformity with generally accepted accounting principles then applicable, fairly presenting in conformity with generally accepted accounting principles the matters which they purport to present, subject to any specific accounting treatment required by the Commissioner, this Subchapter, the Business and Industrial Development Corporations Law, or any other applicable law.
Cal. Code Regs. Tit. 10, § 50.5
Note: Authority cited: Section 31101, Financial Code.