delete PART 32—UNIFORM SYSTEM OF ACCOUNTS FOR TELECOMMUNICATIONS COMPANIES
A comprehensive financial accounting system for telecommunications companies that establishes uniform accounting principles, record-keeping requirements, and reporting standards to ensure consistency, stability, and transparency in financial reporting for regulatory purposes.
This represents excessive federal micromanagement of private business accounting that distorts market incentives, creates compliance costs exceeding benefits, and enables regulatory capture. The detailed accounting rules for telecommunications companies should be determined by private sector standards organizations, not federal bureaucrats.