[Code of Federal Regulations]

[Title 14, Volume 3]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 14CFR152.315]



[Page 139]

 

                     TITLE 14--AERONAUTICS AND SPACE

 

CHAPTER I--FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF TRANSPORTATION 

                               (CONTINUED)

 

PART 152_AIRPORT AID PROGRAM--Table of Contents

 

             Subpart D_Accounting and Reporting Requirements

 

Sec. 152.315  Reporting on accrual basis.



    (a) Except as provided in paragraph (b) of this section each sponsor 

or planning agency shall submit all financial reports on an accrual 

basis.

    (b) If records are not maintained on an accrual basis by a sponsor 

or planning agency, reports may be based on an analysis of records or 

best estimates.