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Can you summarize ARAR 006.06.56?
Casino Gaming Rules > Accounting Regulations
Short Summary
This document outlines the accounting regulations for licensees conducting casino gambling under the Amendment. It defines various terms used in the regulation, such as ‘affiliate,’ ‘commission,’ ‘business year,’ ‘CGS,’ ‘DF&A,’ ’electronic transfer,’ ‘fiscal year,’ ‘gaming device,’ ‘gross wagering revenue,’ ’net casino gaming receipts,’ ’net casino gaming receipts tax,’ ‘operator,’ ‘statements on auditing standards,’ ‘statements on standards for accounting and review services,’ ‘statistical drop,’ and ‘statistical win.’ The document also describes the Commission’s audit procedures, reporting and paying gaming taxes and fees, accounting records, audited financial statements, internal control requirements, and record retention. It emphasizes the importance of maintaining complete, accurate, and legible records, and the submission of annual reports and audited financial statements. The document also highlights the requirements for on-line slot metering systems, records of ownership, and standard financial statements. Overall, it provides guidelines and requirements for accounting practices in the casino gaming industry.
Whom does it apply to?
Licensees conducting casino gambling under the Amendment
What does it govern?
Accounting Regulations
What are exemptions?
Specific exemptions are not mentioned in the document.
What are the Penalties?
Not specified in the document.
Jurisdiction
Arkansas