[Code of Federal Regulations]
[Title 47, Volume 2]
[Revised as of October 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 47CFR32.24]

[Page 399]
 
                       TITLE 47--TELECOMMUNICATION
 
                    CHAPTER I--FEDERAL COMMUNICATIONS
                         COMMISSION (CONTINUED)
 
PART 32--UNIFORM SYSTEM OF ACCOUNTS FOR TELECOMMUNICATIONS COMPANIES--Table of Contents
 
                     Subpart B--General Instructions
 
Sec. 32.24  Compensated absences.

    (a) Companies shall record a liability and charge the appropriate 
expense accounts for compensated absences (vacations, sick leave, etc.) 
in the year in which these benefits are earned by employees.
    (b) With respect to the liability that exists for compensated 
absences which is not yet recorded on the books as of the effective date 
of this part, the liability shall be recorded in Account 4130. Other 
current liabilities, with a corresponding entry to Account 1438, 
Deferred maintenance, retirements and other deferred charges. This 
deferred charge shall be amortized on a straight-line basis over a 
period of ten years.
    (c) Records shall be maintained so as to show that no more than ten 
percent of the deferred charge is being amortized each year.

[51 FR 43499, Dec. 2, 1986, as amended at 67 FR 5679, Feb. 6, 2002]