What equity account should an entity use to record Other Comprehensive Income for reporting to the Commission?
Response: The existing Uniform Systems of Accounts for jurisdictional entities do not specifically contain an account for recording Other Comprehensive Income. Jurisdictional utilities, licensees and gas pipeline companies will reflect Other Comprehensive Income in a separate subaccount of Account 211, Miscellaneous Paid-In Capital. Oil pipeline companies will reflect the amount in a separate subaccount of Account 73, Additional Paid-In Capital. 2. ACCOUNTING FOR RECLASSIFICATION ADJUSTMENTS Background: Under SFAS No. 130 an entity must record “reclassification adjustments” to remove amounts previously recorded in accumulated Other Comprehensive Income when the related transactions or events are ultimately recognized in earnings in subsequent periods. Question: What account should jurisdictional entities use to record reclassification adjustments for reporting to the Commission? Response: The Uniform Systems of Accounts do not provide for a reclassification adjustment account for amoun
