Accounting Principals definition

Accounting Principals means generally accepted accounting principals (“GAAP”), consistently applied.
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Accounting Principals means those accounting rules, methodologies and adjustments historically applied by the Companies as utilized in the Financial Statements.
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Examples of Accounting Principals in a sentence

  • Required skills include excellent written and oral communication, financial management, personnel management, mathematics, General Accepted Accounting Principals, and fiscal management.

  • This review will provide internal control by assuring compliance with Generally Accepted Accounting Principals (GAAP).

  • This auditor's report will be for the limited purposes of (1) assessing the performance of the Retirement Board of Authority and the service providers in the Program, to ensure that each party’s duties have been performed in accordance with the written agreements governing the Program, and (2) advising the Retirement Board of Authority whether the Trust’s financial statements have been prepared in accordance with Generally Accepted Accounting Principals (GAAP), as is prudent for such an organization.

  • The Foundation will conduct its fiscal operations in accordance with accepted business practices and Generally Accepted Accounting Principals (GAAP).

  • Fair market value of the Equipment during the Lease Term shall be determined be the retail value of the Equipment less the appropriate depreciation as determined by Generally Accepted Accounting Principals (GAAP).

  • Operator shall keep, throughout the entire term of this Agreement, all books of account and records customarily used in this type of operation, and as from time to time may be required by Commission, in accordance with Generally Accepted (Governmental) Accounting Principals (GAAP).

  • Applies General Accepted Accounting Principals (domestic and international) to implement and maintain general accounting systems including the preparation of reports and statistics reflecting, but not limited to, assets, liabilities, financial transactions, earnings, profits, cash balances and other financial results.

  • The Inventory is useable or saleable in the ordinary course of the U.S. Display Business as currently conducted, subject to the reserves and accruals established with respect thereto on the books of Seller, and such reserves and accruals have been determined in a manner consistent with GAAP and the past practices of Seller, subject to the Special Accounting Principals.

  • As a result, the criteria set forth by Accounting Principals Board ("APB") Opinion No. 30 will now be used to classify those gains or losses.

Related to Accounting Principals

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with those used in preparing the financial statements referred to in Section 5.5.

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • Generally Accepted Accounting Principles means the standards for accounting and preparation of financial statements established by the Federal Accounting Standards Advisory Board (or its successor agency) or any successor standards adopted pursuant to relevant SEC rule.

  • U.S. GAAP means United States generally accepted accounting principles.

  • UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.

  • Accounting Date means the thirtieth day of June in each year and any interim date on which the financial statements of the Trust are drawn up. Provided that the Management Company may, with the written consent of the Trustee and after obtaining approval from the Commission and the Commissioner of Income Tax may change such date to any other date and such change shall be intimated to the Commission.

  • Accounting Statement means for each financial year, the following statements, namely-

  • GAAP means generally accepted accounting principles as in effect from time to time in the United States of America.

  • IFRS means International Financial Reporting Standards as issued by the International Accounting Standards Board.

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • Historical Financial Statements means as of the Closing Date, (a) the audited consolidated balance sheets and related statements of income and cash flows of the Borrower for the Fiscal Years ended December 31, 2019 and December 31, 2020 and (b) the unaudited consolidated balance sheets and related statements of income and cash flows of Holdings for each fiscal quarter (other than the fourth fiscal quarter) ended after the most recent fiscal year of Holdings and at least forty-five (45) days prior to the Closing Date.

  • Accounting Year means the financial year commencing from the first day of April of any calendar year and ending on the thirty-first day of March of the next calendar year;

  • Accounting system means the Contractor's system or systems for accounting methods, procedures, and controls established to gather, record, classify, analyze, summarize, interpret, and present accurate and timely financial data for reporting in compliance with applicable laws, regulations, and management decisions, and may include subsystems for specific areas such as indirect and other direct costs, compensation, billing, labor, and general information technology.

  • International Accounting Standards means International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and related Interpretations (SIC-IFRIC interpretations), subsequent amendments to those standards and related interpretations, and future standards and related interpretations issued or adopted by the International Accounting Standards Board (IASB);

  • Accounting Records means the general ledger and subsidiary ledgers and supporting schedules which support the general ledger balances.

  • PRC GAAP means the generally accepted accounting principles of the PRC.

  • Accounting Policies means GAAP, applied in a manner consistent with the accounting policies, principles, practices and methodologies used in the preparation of the Audited Balance Sheet.

  • Financial Statements has the meaning set forth in Section 3.06.

  • audited when used in regard to financial statements shall mean an examination of the financial statements by a firm of independent certified public accountants in accordance with generally accepted auditing standards for the purpose of expressing an opinion thereon.

  • Practice of public accounting means the performance or the offering to perform, by a person holding oneself out to the public as a certified public accountant or a licensed public accountant, one or more kinds of professional services involving the use of accounting, attest, or auditing skills, including the issuance of reports on financial statements, or of one or more kinds of management advisory, financial advisory, or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters. However, with respect to licensed public accountants, the “practice of public accounting” shall not include attest or auditing services or the rendering of an opinion attesting to the reliability of any representation embracing financial information.

  • Financial Statement Date has the meaning set forth in Section 4.05 hereof.

  • Accounting Event has the meaning set forth in the Supplemental Indenture.

  • Accounting Information means (a) the annual audited consolidated financial statements of the Group and (b) the quarterly unaudited consolidated financial statements of the Group, each as provided or (as the context may require) to be provided to the Bank in accordance with clause 5.1.4;

  • Accounting Standard means GAAP.