State Codes and Statutes

Statutes > New-york > Stf > Article-2 > 8-a

§  8-a.  Deviations from generally accepted accounting principles.  In  carrying out the accounting  and  financial  reporting  responsibilities  assigned  to  him by subdivisions two, two-a, nine and nine-a of section  eight of this chapter, the comptroller is authorized to  interpret  and,  if  he  deems  it  necessary, deviate from generally accepted accounting  principles, provided  that  any  deviations  shall  be  subject  to  the  following requirements:    1.  If authoritative national governmental accounting standard-setting  bodies differ with each other  as  to  the  specification  of  generally  accepted  accounting  principles,  the  comptroller in the annual report  required by subdivision nine of section eight  of  this  chapter,  shall  designate  the body whose principles he has chosen to follow and explain  the reasons for his choice.    2.  If,  because  of  a  change  in  generally   accepted   accounting  principles,  the  comptroller  determines  that  it  is  not possible to  conform  fully  with  generally  accepted  accounting  principles,   the  comptroller shall in such annual report specify the principles that will  be  followed and outline a program for future conformance with generally  accepted accounting principles.    3. If, in the opinion of the comptroller, adherence  to  a  particular  aspect  of  generally  accepted  accounting principles would result in a  less complete  or  less  fair  presentation  of  the  state's  financial  position  and  results  of  operations than an alternative principle, he  shall specify in such annual  report  the  alternative  principle  being  followed.    4.  If,  in  the opinion of the comptroller, adherence to a particular  aspect of  generally  accepted  accounting  principles  is  impractical,  prohibitively  costly,  or  undesirable  on  the  basis  of cost-benefit  considerations, the comptroller shall specify the alternative  principle  being followed, and the reasons including cost information, if relevant,  for his determination in this regard.

State Codes and Statutes

Statutes > New-york > Stf > Article-2 > 8-a

§  8-a.  Deviations from generally accepted accounting principles.  In  carrying out the accounting  and  financial  reporting  responsibilities  assigned  to  him by subdivisions two, two-a, nine and nine-a of section  eight of this chapter, the comptroller is authorized to  interpret  and,  if  he  deems  it  necessary, deviate from generally accepted accounting  principles, provided  that  any  deviations  shall  be  subject  to  the  following requirements:    1.  If authoritative national governmental accounting standard-setting  bodies differ with each other  as  to  the  specification  of  generally  accepted  accounting  principles,  the  comptroller in the annual report  required by subdivision nine of section eight  of  this  chapter,  shall  designate  the body whose principles he has chosen to follow and explain  the reasons for his choice.    2.  If,  because  of  a  change  in  generally   accepted   accounting  principles,  the  comptroller  determines  that  it  is  not possible to  conform  fully  with  generally  accepted  accounting  principles,   the  comptroller shall in such annual report specify the principles that will  be  followed and outline a program for future conformance with generally  accepted accounting principles.    3. If, in the opinion of the comptroller, adherence  to  a  particular  aspect  of  generally  accepted  accounting principles would result in a  less complete  or  less  fair  presentation  of  the  state's  financial  position  and  results  of  operations than an alternative principle, he  shall specify in such annual  report  the  alternative  principle  being  followed.    4.  If,  in  the opinion of the comptroller, adherence to a particular  aspect of  generally  accepted  accounting  principles  is  impractical,  prohibitively  costly,  or  undesirable  on  the  basis  of cost-benefit  considerations, the comptroller shall specify the alternative  principle  being followed, and the reasons including cost information, if relevant,  for his determination in this regard.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Stf > Article-2 > 8-a

§  8-a.  Deviations from generally accepted accounting principles.  In  carrying out the accounting  and  financial  reporting  responsibilities  assigned  to  him by subdivisions two, two-a, nine and nine-a of section  eight of this chapter, the comptroller is authorized to  interpret  and,  if  he  deems  it  necessary, deviate from generally accepted accounting  principles, provided  that  any  deviations  shall  be  subject  to  the  following requirements:    1.  If authoritative national governmental accounting standard-setting  bodies differ with each other  as  to  the  specification  of  generally  accepted  accounting  principles,  the  comptroller in the annual report  required by subdivision nine of section eight  of  this  chapter,  shall  designate  the body whose principles he has chosen to follow and explain  the reasons for his choice.    2.  If,  because  of  a  change  in  generally   accepted   accounting  principles,  the  comptroller  determines  that  it  is  not possible to  conform  fully  with  generally  accepted  accounting  principles,   the  comptroller shall in such annual report specify the principles that will  be  followed and outline a program for future conformance with generally  accepted accounting principles.    3. If, in the opinion of the comptroller, adherence  to  a  particular  aspect  of  generally  accepted  accounting principles would result in a  less complete  or  less  fair  presentation  of  the  state's  financial  position  and  results  of  operations than an alternative principle, he  shall specify in such annual  report  the  alternative  principle  being  followed.    4.  If,  in  the opinion of the comptroller, adherence to a particular  aspect of  generally  accepted  accounting  principles  is  impractical,  prohibitively  costly,  or  undesirable  on  the  basis  of cost-benefit  considerations, the comptroller shall specify the alternative  principle  being followed, and the reasons including cost information, if relevant,  for his determination in this regard.