KRS 278.220: Uniform system of accounts for utilities.

The commission may establish a system of accounts to be kept by utilities subject to its

jurisdiction, or may classify utilities and establish a system of accounts for each class, and

may prescribe the manner in which such accounts shall be kept. The syste m established

shall conform as nearly as practicable to the uniform system of accounts prescribed by the

National Association of Regulatory Utility Commissioners, except that the system

established for telephone and telegraph companies shall conform as nea rly as practicable

to the system adopted or approved by the Federal Communications Commission and the

system established for gas and electric companies shall conform as nearly as practicable

to the system adopted or approved by the Federal Energy Regulatory Commission.