Tham khảo tài liệu 'united states general accounting office gao september 1988 report to the congress financial_part3', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Financial Statements in operating revenues for fiscal 1987 the affect of which is to increase net Income for fiscal 1987 by this amount. Prior to fiscal 1987 certain costs of the energy conservation program were deferred and charged to operations over a five-year period. Annual expenditures for this program now approxleata the annual amortization of previously incurred costs. Since no significant impact on power rates will be realized through the continued deferral TV A began expensing these costs as Incurred In fiscal 1987. The cusulative effect of this change as of October 1 1986 of 77 Million Is Included In operating expenses for fiscal 1987 the effect of which la to decrease net income for fiscal 1987 by this amount. since the combined effect of these two accounting changes Is immaterial to the fiscal 198 7 results of operations they were not displayed separately In the statement of Income for 1987. These changes in accounting methods are not expected to significantly affect annual operating results. Borrowing expenses--Issue and reacquisition expenses and discounts on power borrowings from the public are amortized on a straight-line basis over the term of the related securities. Issue expenses on power borrowings from the Federal Financing Bank are amortized over a five-year period except that amounts under six thousand dollars are expensed as incurred. Beacqulsltlon expense of recalled debt is amortized over the remaining term of the recalled issues. Sales of fertHlzer--Sales of fertilizer materials are not made on a commercial basis but are made to organizations collaborating in an experimental and educational program aimed at Improving the manufacture distribution and use of fertilizers. 2. Allocation of cost of multipurpose projects--Section IS of the TV A Act requires TVA S Board of Directors to allocate subject to the approval of the President of the United States the cost of completed multipurpose projects. The cost of facilities installed exclusively .
