In contrast to other industries, which use depreciation accounting for capital assets, railroads use a unique betterment accounting method for their track structure. GAO believes the Interstate Commerce Commission and the Securities and Exchange Commission should require railroads to adopt depreciation accounting. This would enhance the comparability of railroads' financial reporting, assist the Congress in deliberations on regulatory reform and financial assistance to railroads, and provide better information to shippers and small investors. Railroads also should include information on their maintenance and replacement practices, including deferred maintenance, in financial reports.
Accounting Changes Needed in the Railroad Industry
1981
64 pages
Report
No indication
English
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