Accrual Basis. Employees shall accrue vacation the first (1st) day of employment, but shall not be eligible to sell back or receive termination payoff until completion of six (6) months of service. New employees are generally not authorized use of vacation in the first six (6) months of employment but exceptions may be authorized by the department head or elected official.
Accrual Basis. Such books and records of account shall be maintained on an accrual basis in accordance with generally accepted accounting principles or tax accounting principles, as appropriate, and shall be adequate to provide each Partner with all financial and tax information as may be needed by each Partner or and Affiliate of each Partner for purposes of satisfying the financial and tax reporting obligation of each Partner or its Affiliates.
Accrual Basis. All books, accounts and records shall be prepared on an accrual basis. Contract Revenues shall be attributed to the accounting period in which they are earned, and costs and expenses to the account period in which they are incurred, without the need to Distinguish whether cash is received or disbursed in connection with a particular transaction. Costs and expenses shall be deemed to have been incurred, in the case of physical items, in the accounting period when Licensee acquires title thereto, and in the case of services, in the accounting period when such services are performed.
Accrual Basis. The CONTRACTOR shall produce financial statements including a balance sheet, income statement, and a cash flow statement, as well as a listing of resource suppliers including the total of purchases, no later than seventy five (75) Days following the closing of the fiscal year in question. It shall abide by the governing principles pertaining to maintenance and production of its books of account. The CONTRACTOR shall maintain a separate accounting for the Petroleum Operations pertaining to this Contract. The books of account shall be kept and all reporting made on an accrual basis and according to generally accepted rules of accounting in the international petroleum industry. Receipts shall be allocated to the accounting period during which they are earned, while costs and expenses shall be recorded as they are incurred, as opposed to accounting on a cash basis. Costs and expenses shall be deemed to have been incurred during the accounting period when title passes to the CONTRACTOR for tangible items, and during the period when services are performed, for services rendered. Work in progress shall be valued at cost. The reports referred to in Article 1.4.3 above shall be prepared on an accrual basis. ARTICLE B.2 C L AS S I F I C AT I O N , D E F I N I TI O N AN D AL L O C AT I O N O F P E T R O L E U M C O S T S
Accrual Basis. Such books and records of account shall be maintained on the accrual basis and shall be adequate to provide either Venturer with all financial information as may be needed by either Venturer or any affiliate of either Venturer for purposes of satisfying the financial reporting obligations of either Venturer or its respective affiliate or affiliates.
Accrual Basis. The Company is an accrual basis taxpayer and it has recognized revenue, on or prior to the Closing Date, with respect to all accounts receivable set forth in its balance sheet on the day prior to the Closing Date.
Accrual Basis. Employees shall accrue paid time off (PTO) based on paid hours. No accrual shall occur during unpaid leave and PTO accrual will be pro-rated based on the number of hours in paid status. Regular part-time employees shall accrue PTO on a pro-rata basis. New employees shall accrue PTO beginning with the first day of employment but shall not be eligible to use PTO or receive termination payoff until completion of six (6) months of service.