Accounting Basis. The Company shall use such method of accounting as may be determined by the Board that is consistent with United States generally accepted accounting principles or such other accounting methods and conventions as the Board may from time to time determine to be used in the preparation of the Company’s tax returns.
Accounting Basis. All premiums and losses under this Contract shall be reported on an “accident year” accounting basis. Unless specified otherwise herein, all premiums shall be credited to the period during which they earn, and all losses shall be charged to the period during which they occur.
Accounting Basis. All books and accounts shall be prepared on an accrual accounting basis. Revenues shall be posted to the accounting period in which they were earned, without any need to recognize whether a given transaction results in a disbursement or cash receipt. Expenses and costs shall be regarded as incurred, in the case of physical items, during the accounting period in which the relevant title is transferred to the Contractor and in the case of services during the accounting period in which such services are rendered.
Accounting Basis. All books and accounts will be prepared on an accrual accounting basis. Revenues will be posted to the accounting period in which they were earned, without any need to recognize whether a given transaction results in a disbursement or cash receipt. Expenses and costs will be regarded as incurred, in the case of physical items, during the accounting period in which the relevant title is transferred to the Contractor and in the case of services, during the accounting period in which the services are provided. Nevertheless, allocation of accountable revenues and expenditures will be carried out according to the Accrual Accounting Principle contemplated in the General Accounting Plan of Equatorial Guinea, within the framework of OHADA.
Accounting Basis. The books and records and financial statements and reports of the Company shall be kept on an accrual basis. Additional determinations with respect to accounting principles shall be made by the Managing Member.
Accounting Basis. The Government of the Federated States of Micronesia shall report on a cash or accrual basis consistent with its own policies. Provided the information is not changed in substance, the format of the report may be adapted when reporting is accomplished with the aid of automated data processing Equipment.
Accounting Basis. The Government of the Republic of the Xxxxxxxx Islands shall report on a cash or accrual basis consistent with its own policies. Provided the information is not changed in substance, the format of the report may be adapted when reporting is accomplished with the aid of automated data processing Equipment.
Accounting Basis. The Fiscal Year of the Fund shall begin on the 1st day of January and end on the 31st day of December of each year (the “Fiscal Year”). The Fiscal Year in which the Fund shall terminate shall begin on January 1 and end on the date of termination of the Fund. Fund books shall be kept in accordance with the accounting methods followed by the Fund for federal income tax purposes, which accounting methods shall be selected by the Managing Member by the time of filing of the Fund’s federal income tax return for its Fiscal Year. Financial reports shall be on the basis of GAAP, with such adjustments deemed necessary or advisable by the Managing Member. The books of account and records of the Fund shall be audited as of the end of each Fiscal Year of the Fund by an independent certified public accountant selected by the Managing Member.
Accounting Basis. The Fiscal Year of the Company shall begin on the 1st day of January and end on the 31st day of December of each year (the “Fiscal Year”). The Fiscal Year in which the Company is dissolved shall begin on January 1 and end on the date the Company is dissolved. Company books shall be kept in accordance with GAAP, and accounting policies shall be selected by the Company by the time of filing of the Company’s federal income tax return for its Fiscal Year. Financial reports shall be on the basis of GAAP, with such adjustments deemed necessary or advisable by the Company, provided such adjustments are permitted under GAAP and are disclosed in such applicable reports. The books of account and records of the Company shall be audited as of the end of each Fiscal Year of the Company by an independent certified public accountant selected by the Manager and approved by the Board.
Accounting Basis. Books and records of the Company shall be maintained on an accrual accounting basis, and (except for federal and state income tax purposes) the Company’s net profit or net loss shall be determined on the basis of the Fiscal Year and in accordance with GAAP consistently applied.
