Ill. Admin. Code tit. 92, § 1457.500 – Generally Accepted Accounting Principles | Midpage
§ 1457.500
Ill. Admin. Code tit. 92, § 1457.500
Generally Accepted Accounting Principles
AUTHORITY: Implementing Sections 18c-1202 and 18c-2107 and authorized by Section 18c-1202 of the Illinois Commercial Transportation Law [625 ILCS 5].ILLINOIS COMMERCE COMMISSION
a) All Illinois Commerce Commission licensed common or contract household goods carriers, and each receiver, trustee, executor, administrator, or assignee of any carrier shall comply with generally accepted accounting principles for use in the keeping and recording of their accounts and bookkeeping records.
b) As generally accepted accounting principles, the Commission incorporates by reference "Accounting Standards" of the Financial Accounting Standards Board (June 2000, no later amendments or editions included).