A NEW REGULATORY ACCOUNTING SYSTEM FOR RAILROADS

After 70 years with little change in ICC-prescribed accounting procedures for railroads, the deficiencies first apparent to accountants, cost analysts and economists and then to regulators are being redressed. If ICC accounting is to be used as an effective tool in the current economic environment, revision has become necessary. The Railroad Revitalization and Regulatory Reform Act of 1976 also requires that ICC adopt new accounting requirements. Under existing accounting, most number operating revenues and expenses are not classified by function, nor are they classified by natural expenses. The fundamental change is to convert the property-oriented costing system into an input-output oriented costing system with two dimensions of natural cost elements (salaries, wages, materials, fuel, etc.) and service outputs (maintenance, line-haul, switching, etc.).

• Corporate Authors:

  Association Interstate Commerce Comm Practitioner

  1112 ICC Building
  Washington, DC  United States  20423
• Authors:
  • Young, R
• Publication Date: 1976-5

Media Info

• Pagination: p. 457-469
• Serial:
  • ICC Practitioners Journal
  • Volume: 43
  • Issue Number: 4
  • Publisher: N/A

Subject/Index Terms

• TRT Terms: Accounting; Analysis; Cost accounting; Costs; Economic analysis; Rate making; Regulations
• Identifier Terms: Railroad Revitalization and Regulatory Reform Act of 1976; U.S. Interstate Commerce Commission
• Uncontrolled Terms: Cost analysis
• Old TRIS Terms: Cost centers; Government regulations
• Subject Areas: Economics; Finance; Law; Railroads;

Filing Info

• Accession Number: 00136258
• Record Type: Publication
• Files: TRIS
• Created Date: Jul 13 1976 12:00AM