Pennsylvania Code
Title 7 - AGRICULTURE
Part VI - PENNSYLVANIA MILK BOARD
Chapter 149 - UNIFORM SYSTEM OF ACCOUNTS
GENERAL INSTRUCTIONS
Section 149.4 - Accounting period
Universal Citation: 7 PA Code ยง 149.4
Current through Register Vol. 54, No. 44, November 2, 2024
(a) Each licensee shall post its books on a monthly basis so that, for each month, all basic transactions applicable thereto as nearly as may be ascertained shall be recorded chronologically in the books. This requirement does not include adjustments for inventories, accruals or deferrals, or allocations of service centers to productive centers.
(b) Each licensee shall close its books at the end of each calendar year. However, with prior written approval of the Board, a licensee may operate on a fiscal year basis.
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