[Code of Federal Regulations]
[Title 47, Volume 2]
[Revised as of October 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 47CFR32.1280]

[Page 404]
 
                       TITLE 47--TELECOMMUNICATION
 
        CHAPTER I--FEDERAL COMMUNICATIONS COMMISSION (CONTINUED)
 
PART 32_UNIFORM SYSTEM OF ACCOUNTS FOR TELECOMMUNICATIONS COMPANIES--Table of 
 
            Subpart C_Instructions for Balance Sheet Accounts
 
Sec. 32.1280  Prepayments.

    This account shall include:
    (a) The amounts of rents paid in advance of the period in which they 
are chargeable to income, except amounts chargeable to 
telecommunications plant under construction and minor amounts which may 
be charged directly to the final accounts. As the term expires for which 
the rents are paid, this account shall be credited monthly and the 
appropriate account charged.
    (b) The balance of all taxes, other than amounts chargeable to 
telecommunication plant under construction and minor amounts which may 
be charged to the final accounts, paid in advance and which are 
chargeable to income within one year. As the term expires for which the 
taxes are paid, this account shall be credited monthly and the 
appropriate account charged.
    (c) The amount of insurance premiums paid in advance of the period 
in which they are chargeable to income, except premiums chargeable to 
telecommunications plant under construction and minor amounts which may 
be charged directly to the final accounts. As the term expires for which 
the premiums are paid, this account shall be credited monthly and the 
appropriate account charged.
    (d) The cost of preparing, printing, binding, and delivering 
directories and the cost of soliciting advertisements for directories, 
except minor amounts which may be charged directly to Account 6622, 
Number services. These prepaid directory expenses shall be cleared to 
Account 6622 by monthly charges representing that portion of the 
expenses applicable to each month.
    (e) Other prepayments not included in paragraphs (a) through (d) of 
this section except for minor amounts which may be charged directly to 
the final accounts. As the term expires for which the payments apply, 
this account shall be credited monthly and the appropriate account 
charged.

[67 FR 5682, Feb. 6, 2002, as amended at 69 FR 53648, Sept. 2, 2004]