Document Type
Book
Publication Date
1914
Abstract
Accounts are provided in this classification for the revenues and expenses of operations which heretofore have been classed as auxiliary or outside operations. The purpose in merging these accounts has been to secure a statement of revenues and expenses in connection with the operation of all physical property the cost of which is includible in the accounts for investment in road and equipment. The accounts for maintenance of physical property have been arranged to correspond with those for the investment in such property. Depreciation accounts have been provided for the current depreciation of fixed improvements, although until further directed the recognition in operating expenses of current depreciation of fixed improvements is optional with the carrier. It is provided that organization and general administration expenses directly assignable to investments in stocks, bonds, and other securities shall be excluded from the accounts of this classification and included in income account No. 549, "Maintenance of investment organization." The general and special instructions contain a comprehensive statement of the principles underlying the classification, indicating generally the application of the accounting rules. The attention of accounting officers is called to the importance of requiring all employees who are assigned to accounting work in connection with operating revenues and operating expenses to familiarize themselves thoroughly with these instructions.
Relational Format
book
Recommended Citation
Metropolitan Life Insurance Company. Policyholders Service Bureau, "Classification of operating revenues and operating expenses of steam roads" (1914). Federal Publications. 311.
https://egrove.olemiss.edu/acct_fed/311