N.Y. Comp. Codes R. & Regs. tit. 16 § 462.2

Current through Register Vol. 46, No. 45, November 2, 2024

Section 462.2 - Current and accrued assets

(a) Current and accrued assets are cash, those assets which are readily convertible into cash, or are held for current use in operations or construction, current claims against others, payment of which is reasonably assured, advance payments made by the utility benefit of which is to be realized within a relatively short period, and amounts accruing to the utility which are subject to current settlement, except such items for which accounts other than those designated as current and accrued assets are provided.

(b) There shall not be included in the group of accounts designated as current and accrued assets any item the amount or collectibility of which is not reasonably assured, unless an adequate reserve has been provided therefor. Items of current character but of doubtful value may be written down and for record purposes carried in these accounts at nominal value.

N.Y. Comp. Codes R. & Regs. Tit. 16 § 462.2