United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 1995_register executive 2010-09-25 article Rules and Regulations D09002ee1be0567c9 D09002ee1be056885 United States Department of Agriculture originator org United States Government Agency or Subagency United States Rural Utilities Service originator org United States Government Agency or Subagency This final rule amends the Rural Utilities Service's (RUS) regulations on accounting policies and procedures for RUS electric borrowers as set forth in RUS's regulations concerning Accounting Requirements for RUS Electric Borrowers, Uniform System of Accounts. This final rule eliminates the requirement that RUS borrowers place the difference between the amount accrued for postretirement benefits during the year and the amount paid on a ``pay-as-you-go'' basis in an external, irrevocable trust to be used solely for postretirement benefits. RUS borrowers may, however, elect to voluntarily fund their postretirement benefit obligations. This final rule sets forth new accounting interpretations that address the requirements of recently issued pronouncements of the Financial Accounting Standards Board concerning the accounting for postemployment benefits and the accounting for certain investments in debt and equity securities. In addition, this final rule also sets forth a new accounting procedure for storm damage costs and the associated funds received from the Federal Emergency Management Administration (FEMA). It also clarifies the accounting prescribed for computer software costs by specifying the accounts to which generalized software costs should be amortized and to which the costs of maintaining, updating, and converting files should be expensed. In addition, this rule will identify the organizational unit within RUS to which borrower requests for departures from or interpretations of the RUS Uniform System of Accounts (USoA) should be submitted. This regulation will facilitate the effective and economical operation of a business enterprise and ensure that adequate and reliable financial records be maintained. 60 FR 55423 https://www.govinfo.gov/app/details/FR-1995-11-01/95-27006 95-27006 fr01no95-2 RIN 0572-AA23 3410-15-P https://www.govinfo.gov/app/details/FR-1995-11-01/95-27006 https://www.govinfo.gov/content/pkg/FR-1995-11-01/html/95-27006.htm https://www.govinfo.gov/content/pkg/FR-1995-11-01/pdf/95-27006.pdf 18 p. 55423 55440 60 FR 55423 Title 7 Part 1767 7 CFR Part 1767 RIN 0572-AA23 Accounting Requirements for RUS Electric Borrowers; Federal Register Vol. 60, Issue RULE 95-27006 DEPARTMENT OF AGRICULTURE Rural Utilities Service 1995-12-01 3410-15-P 95-27006 Final rule.

This final rule amends the Rural Utilities Service's (RUS) regulations on accounting policies and procedures for RUS electric borrowers as set forth in RUS's regulations concerning Accounting Requirements for RUS Electric Borrowers, Uniform System of Accounts. This final rule eliminates the requirement that RUS borrowers place the difference between the amount accrued for postretirement benefits during the year and the amount paid on a ``pay-as-you-go'' basis in an external, irrevocable trust to be used solely for postretirement benefits. RUS borrowers may, however, elect to voluntarily fund their postretirement benefit obligations. This final rule sets forth new accounting interpretations that address the requirements of recently issued pronouncements of the Financial Accounting Standards Board concerning the accounting for postemployment benefits and the accounting for certain investments in debt and equity securities. In addition, this final rule also sets forth a new accounting procedure for storm damage costs and the associated funds received from the Federal Emergency Management Administration (FEMA). It also clarifies the accounting prescribed for computer software costs by specifying the accounts to which generalized software costs should be amortized and to which the costs of maintaining, updating, and converting files should be expensed. In addition, this rule will identify the organizational unit within RUS to which borrower requests for departures from or interpretations of the RUS Uniform System of Accounts (USoA) should be submitted. This regulation will facilitate the effective and economical operation of a business enterprise and ensure that adequate and reliable financial records be maintained.

This rule is effective December 1, 1995. Ms. Roberta D. Purcell, Chief, Technical Accounting and Auditing Staff, Borrower Accounting Division, Rural Utilities Service, AG Box 1523, room 2221, South Building, U.S. Department of Agriculture, Washington, DC 20250, telephone number (202) 720-5227. Vol. 60, no. 211 Office of the Federal Register, National Archives and Records Administration 1995-11-01 continuing daily deposited born digital 236 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-1995-11-01 P0b002ee180a7abe9 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr01no95 https://www.govinfo.gov/app/details/FR-1995-11-01 https://www.govinfo.gov/content/pkg/FR-1995-11-01/pdf/FR-1995-11-01.pdf fdlp 55423 55649 DGPO 2010-09-25 2023-05-07 FR-1995-11-01 machine generated eng FR FR-1995-11-01 60 211