New York Laws
Article 2 - General Fiscal Provisions
8-A - Deviations From Generally Accepted Accounting Principles.

§ 8-a. Deviations from generally accepted accounting principles. In
carrying out the accounting and financial reporting responsibilities
assigned to him by subdivisions two, two-a, nine and nine-a of section
eight of this chapter, the comptroller is authorized to interpret and,
if he deems it necessary, deviate from generally accepted accounting
principles, provided that any deviations shall be subject to the
following requirements:

1. If authoritative national governmental accounting standard-setting
bodies differ with each other as to the specification of generally
accepted accounting principles, the comptroller in the annual report
required by subdivision nine of section eight of this chapter, shall
designate the body whose principles he has chosen to follow and explain
the reasons for his choice.

2. If, because of a change in generally accepted accounting
principles, the comptroller determines that it is not possible to
conform fully with generally accepted accounting principles, the
comptroller shall in such annual report specify the principles that will
be followed and outline a program for future conformance with generally
accepted accounting principles.

3. If, in the opinion of the comptroller, adherence to a particular
aspect of generally accepted accounting principles would result in a
less complete or less fair presentation of the state's financial
position and results of operations than an alternative principle, he
shall specify in such annual report the alternative principle being
followed.

4. If, in the opinion of the comptroller, adherence to a particular
aspect of generally accepted accounting principles is impractical,
prohibitively costly, or undesirable on the basis of cost-benefit
considerations, the comptroller shall specify the alternative principle
being followed, and the reasons including cost information, if relevant,
for his determination in this regard.