Nevada Administrative Code
Chapter 706 - Motor Carriers
UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES
Accounts
Section 706.40197 - Accounts for accounts payable, open accident liabilities and contracts payable

1. The account for accounts payable must include all amounts for goods and services received by the company which are payable within 1 year after the date thereof and which have not been paid.

2. The account for open accident liabilities must include a provision for the amounts set aside by self-insured companies for the actual or estimated liabilities from accidents not totally covered by insurance policies.

3. For reporting purposes, the portion of any contract payable which becomes due within 1 year after the date thereof and which has not been paid must be included in the account for contracts payable.