14 CFR § 18 - Section 18 Objective Classification—Cumulative Effect of Changes in Accounting Principles

---
identifier: "/us/cfr/t14/s18"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "14 CFR § 18 - Section 18   Objective Classification—Cumulative Effect of Changes in Accounting Principles"
title_number: 14
title_name: "Aeronautics and Space"
section_number: "18"
section_name: "Section 18   Objective Classification—Cumulative Effect of Changes in Accounting Principles"
chapter_name: "OFFICE OF THE SECRETARY, DEPARTMENT OF TRANSPORTATION (AVIATION PROCEEDINGS)"
subchapter_number: "A"
subchapter_name: "ECONOMIC REGULATIONS"
part_number: "241"
part_name: "UNIFORM SYSTEM OF ACCOUNTS AND REPORTS FOR LARGE CERTIFICATED AIR CARRIERS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "49 U.S.C. 329, 41101, 41708, and 41709."
regulatory_source: "ER-755, 37 FR 19726, Sept. 21, 1972, unless otherwise noted."
cfr_part: "241"
---


# 18 Section 18   Objective Classification—Cumulative Effect of Changes in Accounting Principles

Record here the difference between the amount of retained earnings at the beginning of the period of a change in accounting principle and the amount of retained earnings that would have been reported at that date if the new accounting principle had been applied retroactively for all periods which would have been affected and by recognizing only the direct effects of a change and the related income tax effect.

[ER-948, 41 FR 12296, Mar. 25, 1976]