Ala. Admin. Code r. 770-X-10-.09-.02

Current through Register Vol. 43, No. 1, October 31, 2024

Section 770-X-10-.09-.02 - Accounting Periods

(1) Each intrastate common and contract carrier of property and passenger subject to the Alabama Motor Carrier Act, as amended, shall keep its books on the basis of either:

(a) An accounting year of twelve months ending the 31st day of December in each year; or

(b) An accounting year of thirteen four-week periods ending at the close of one of the last seven days of each calendar year.

(2) Carriers required to file quarterly reports which keep their accounts on a four-week instead of a calendar month basis may report three such four-week periods in each of the reports for the first three quarters and the four remaining periods in the last quarter.

(3) A carrier electing to adopt an accounting year of thirteen four-week periods shall file with the Commission a statement showing the day on which its accounting year will close and shall made a notation on quarterly reports that the alternative four-week basis is used.

(4) A carrier shall not subsequently change its accounting period without prior approval from the Commission.

(5) Whenever "calendar year" appears in these rules, it is intended to include "or an accounting year of thirteen four-week periods" and whenever "month" appears, it is intended to include "or four-week period."

Ala. Admin. Code r. 770-X-10-.09-.02

Effective January 1978. Amended January 1981. Filed with LRS February 5, 2013. Filed for Codification in the Alabama Administrative Code by the Alabama Public Service Commission on February 5, 2013, pursuant to Code of Ala. 1975, § 41-22-7.

Author: Alabama Public Service Commission

Statutory Authority:Code of Ala. 1975, §§ 37-3-5, 37-3-7, 37-3-22.