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Y2!!dddddH=dYHHHHHHHHHHx!d2H282YdHdC2!2H,29HNAddHHHHHHHHHHddddd.dHHHHdddddddddddddddddddHHddddddSC=NdHddd+;HHHHddddddHHH2HHdHHdddHHH,HHHH,HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!HHH!HHH!HHH!HHHHHHHHHHHHHH=?8=8C,?'A,J2H,!F,C8[8J,C2H,H=92=22?,H,C=H8N===H?J!2HHH=,====!!2222HJ222HHH=!92,!d2vW a< X   '  T-  #&J\  P6Q#{&P#Federal Communications Commission`(#DA 94268 ă  yx}dddy'l #^\  P6Q,P# Federal Communications Commission #&J\  P6Q#{&P#у  Y-%#XP\  P6Q[hXP#Washington, D.C. 20554#&J\  P6Q#{&P#у  Ts-`(# #&J\  P6Q#{&P# In reply refer to:  X@- #XP\  P6Q[hXP#RAO LETTER 24 Đ(#U  Y-`K(# Released: March 24, 1994 ă  X- Adopted: March 24, 1994 Đ(#U Responsible Accounting Officers: Re: Accounting for Work Force Reduction Programs  Recently, it has come to our attention that there is a lack of uniformity among the   ;carriers in accounting for work force reduction programs under Part 32. Several carriers have   ,announced work force reduction programs in 1993 and have indicated that they plan to record   the entire effects on their 1993 SEC Form 10-K filing in conformance with GAAP. Some of   Kthese carriers propose to follow this same accounting under Part 32 while others propose to   account for these programs under Part 32 as the programs are implemented. The reason for this   + letter, therefore, is to establish uniformity in accounting for these work force reduction programs  Y-  and to remind carriers of the Commission's policy with respect to the application of GAAP   under Part 32. The accounting reflected herein should be reported in the ARMIS filings that are due at the Commission on or before April 1, 1994.  The Commission's policy on GAAP is set forth in Section 32.12(a) of its rules. This   JSection states that "The company's financial records shall be kept in accordance with generally   accepted accounting principles to the extent permitted by this system of accounts." Thus, it is   <our belief that if a carrier is recording an event for financial reporting purposes pursuant to   GAAP, then the carrier should also record this event for Part 32 federal accounting purposes unless Part 32 prohibits the action or we have specifically advised the carrier to do otherwise.  The Commission's policy on new GAAP standards is set forth in Section 32.16(a) of its   ;rules. This Section states that "[The company's records and accounts shall be adjusted to apply   new accounting standards prescribed by the Financial Accounting Standards Board or successor   authoritative accounting standard-setting groups, in a manner consistent with generally accepted   kaccounting principles. Commission approval of a change in accounting standards will   Yautomatically take effect 90 days after the company informs this Commission of its intention to follow the new standard, unless the Commission notifies the company to the contrary ...]."  $$T  $The Commission's policy with respect to uniformity of accounting standards for the  Y2$-  industry is contained in the GAAP Order.W 2$ xP&-  ԍRevision of the Uniform System of Accounts for Telephone Companies to Accommodate Generally Accepted   =Accounting Principles (Parts 31, 33, 42 and 43 of the Rules), CC Docket No. 84-469, 50 F.R. 48408 (November  xP;(-25, 1985) (hereinafter GAAP Order). W The GAAP Order included the following statements   ydemonstrating our intention to maintain uniformity of accounting standards for telephone"%,**UU(" companies:  To promote the needed consistency and uniformity industrywide to properly carry  XX out our  Y-regulatory responsibilities, we are applying the same accounting standards to all carriers.9M xP-ԍGAAP Order at 69.9   Furthermore, in order to maintain control over the USOA so that uniformity is   maintained for all carriers, the Commission will select the accounting method carriers are to use   .under GAAP when GAAP permits several accounting options. The carriers will use the  Y-accounting method selected by the Commission unless we grant them a waiver to do otherwise.3XM xP -ԍId. at 71. 3  Based on the above guidelines, we see no basis for carriers to give accounting recognition   to work force reductions for Form 10-K purposes but not for Part 32 purposes. Since Part 32   does not specifically address work force reductions, the proper accounting should be determined   by applying the criteria established under GAAP to the circumstances of the work force   reduction. We see no way that the same GAAP criteria applied to the same facts can result in   accounting recognition under GAAP in one instance and not another. Accordingly, carriers that   are showing liabilities, and onetime charges for work force reductions in their 10-K reports for 1993 should reflect the work force reduction in their 1993 ARMIS filings.  !At the same time, we recognize that Part 32 accounting and reporting may require   zmodification to accommodate the Commission's regulatory needs. We believe that the   + accounting for work force reductions is such a case. Carriers recording liabilities for work force   reductions shall record such amounts in Accounts 4120, Other Accrued Liabilities, and 4360,   ;Other Deferred Credits, for the current and noncurrent portions, respectively, and shall charge   wAccount 7360, Other Nonoperating Income. When the restructuring expenses are actually paid   or otherwise require Part 32 recognition (for example, adjustment of the transition benefit   Yobligation for the reductions under SFAS 106), they will be charged to the appropriate Part 32   expense accounts with a credit to cash or other appropriate account. At the same time, the   liability established in Accounts 4120 and 4360 will be debited and Account 7360 will be   g credited. This accounting will recognize the liability consistent with GAAP, will show the effect   g of the restructuring on net income, and will allow delayed recognition in the regulatory operating   accounts until the detailed amounts are known and amounts have actually been paid. The   balance in Account 4360 related to these entries should not be deducted from the ratebase because it arose from charges to a below the line account.  This letter is issued pursuant to authority delegated under  0.291 of the Commission's   Rules, 47 C.F.R.  0.291. Applications for review under Section 1.115 of the Commission's  Y-  Rules, 47 C.F.R.  1.115, must be filed within 30 days of the date of this letter. See 47 C.F.R.  1.4(b)(2).  MIf you have any questions, please contact the Chief of the Accounting Systems Branch at (202) 4180810."e#,C)C)UU&"Ԍ x` `  hh@hppSincerely, x` `  hh@hppKenneth P. Moran x` `  hh@hppChief, Accounting and Audits Division  X\ -x` `  hh@hppCommon Carrier Bureau