Generally Accepted Accounting Principles definition

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.

Generally Accepted Accounting Principles or "GAAP" means generally accepted accounting principles in the United States, consistently applied, which are in effect on the date of this Indenture.

Generally Accepted Accounting Principles means such accounting principles as are generally accepted at the time of any computation required hereunder.

Examples of Generally Accepted Accounting Principles in a sentence

• GRANTEE shall adhere to Generally Accepted Accounting Principles (GAAP) promulgated by the American Institute of Certified Public Accountants, unless other recognized accounting principles are required by XXXXXXX, and follow OAG fiscal management policies and procedures in processing and submitting for reimbursement XXXXXXX’s billing and maintaining financial records related to this contract.

• On the other hand, an example of an objective standard would be where a financial auditor declares that a school was clearly not using Generally Accepted Accounting Principles in its accounting work, as is required.

• Financial Accounting Standards Board (FASB): FASB is the independent, private‐sector, not‐for‐ profit organization that establishes financial accounting and reporting standards for public and private companies and not‐for‐profit organizations that follow Generally Accepted Accounting Principles (GAAP).

• Each contract listed in Table 1 contains an assurance that the activities are not otherwise available from that provider on a non-reimbursable basis, and, if not a performance-based contract, a statement regarding use of a cost allocation methodology that satisfies Generally Accepted Accounting Principles, as well as the requirements of U.S. Office of Management and Budget Circulars A-122 for nonprofit organizations, A-21 for educational institutions, or A-87 for State and local governments.

• Future will maintain all financial records in accordance with Generally Accepted Accounting Principles (GAAP) and will follow all requirements set forth by the Idaho State Department of Education.

More Definitions of Generally Accepted Accounting Principles

Generally Accepted Accounting Principles or “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession as amended and/or modified from time to time. All ratios and computations contained or referred to herein shall be computed in conformity with GAAP applied on a consistent basis.

Generally Accepted Accounting Principles means the generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant segment of the accounting profession in the United States, in each case, as applicable, as of the time of the relevant financial statements referred to herein;

Generally Accepted Accounting Principles means the recognised consensus or substantial authoritative support in the territory of a Party, with respect to the recording of revenues, expenses, costs, assets and liabilities; the disclosure of information; and the preparation of financial statements. These standards may encompass broad guidelines of general application as well as detailed standards, practices and procedures;

Generally Accepted Accounting Principles shall refer to generally accepted accounting principles as in effect from time to time in the United States of America.

Generally Accepted Accounting Principles or "GAAP" means generally accepted accounting principles, in effect in Canada, as applied from time to time, by the Company in the preparation of its consolidated financial statements.

Generally Accepted Accounting Principles for any Person means the generally accepted accounting principles and practices applied by such Person from time to time in the preparation of its audited financial statements.

Generally Accepted Accounting Principles means generally accepted accounting principles, as recognized by the American Institute of Certified Public Accountants, consistently applied and maintained on a consistent basis for the Borrower and its Subsidiaries on a consolidated basis throughout the period indicated and consistent with the financial practice of the Borrower and its Subsidiaries after the date hereof.