N.Y. State Fin. Law § 8-a

§ 8-a. Deviations from generally accepted accounting principles. In\ncarrying out the accounting and financial reporting responsibilities\nassigned to him by subdivisions two, two-a, nine and nine-a of section\neight of this chapter, the comptroller is authorized to interpret and,\nif he deems it necessary, deviate from generally accepted accounting\nprinciples, provided that any deviations shall be subject to the\nfollowing requirements:\n 1. If authoritative national governmental accounting standard-setting\nbodies differ with each other as to the specification of generally\naccepted accounting principles, the comptroller in the annual report\nrequired by subdivision nine of section eight of this chapter, shall\ndesignate the body whose principles he has chosen to follow and explain\nthe reasons for his choice.\n 2. If, because of a change in generally accepted accounting\nprinciples, the comptroller determines that it is not possible to\nconform fully with generally accepted accounting principles, the\ncomptroller shall in such annual report specify the principles that will\nbe followed and outline a program for future conformance with generally\naccepted accounting principles.\n 3. If, in the opinion of the comptroller, adherence to a particular\naspect of generally accepted accounting principles would result in a\nless complete or less fair presentation of the state's financial\nposition and results of operations than an alternative principle, he\nshall specify in such annual report the alternative principle being\nfollowed.\n 4. If, in the opinion of the comptroller, adherence to a particular\naspect of generally accepted accounting principles is impractical,\nprohibitively costly, or undesirable on the basis of cost-benefit\nconsiderations, the comptroller shall specify the alternative principle\nbeing followed, and the reasons including cost information, if relevant,\nfor his determination in this regard.\n