Sec. 660.2. Order authorizing uniform system of accounts

(a) The attached uniform system of accounts for telephone corporations is hereby prescribed for every telephone corporation (as that term is defined in the Public Service Law) subject to the jurisdiction of this commission and every such telephone corporation is hereby required to keep its records and accounts in conformity therewith.

(b) Each telephone corporation for which this uniform system of accounts is prescribed shall classify, set forth, and carry all assets, liabilities, capital stock, and retained earnings (or noncorporate proprietorship) existing as of the effective date of this uniform system of accounts, as prescribed in such system of accounts.

(c) In prescribing this system of accounts, the commission does not commit itself to the approval or acceptance of any item set out in any account, for the purpose of fixing rates or in determining other matters before the commission. The prescribed system of accounts is designed to set out the facts in connection with the capitalization, construction, income, expenditures, etc., and therefrom the commission will determine, in connection with such matters as may be under advisement from time to time, just what consideration shall be given to the various items in the several accounts.

(d) The system of accounts prescribed by this Part shall become effective as ordered and shall be put into effect by each telephone company affected thereby on January 1, 1988.