Accounting Practice definition
Examples of Accounting Practice in a sentence
In accordance with FAR 52.230-6, Administration of Cost Accounting Standards, and FAR 52.230-7, Proposal Disclosure-Cost Accounting Practice, Contractors shall notify the ACO and designated OCO on individual Orders, in writing, if there are any changes to Cost Accounting Practices and provide the reason(s) for the change.
Any property, land or land rights added to the San ▇▇▇▇ Project or the substitution, replacement, enlargement or improvement of any Units of Property, structures, facilities, equipment, property, land or land rights constituting a part of the San ▇▇▇▇ Project, which in accordance with Accounting Practice would be capitalized, and also including the costs of removal, salvage or disposal of any Units of Property being replaced or substituted.
Transmission Owner will maintain complete and accurate books and records of all of its material activities performed in connection with the Services during the Term in accordance with Good Utility Practice and Accounting Practice.
Transmission Owner shall also maintain and retain for such time as Transco may reasonably direct, but, unless required by applicable Law or Accounting Practice, not for longer than six (6) years, the books and other records needed to document the Direct Costs and Indirect Costs Transmission Owner incurs as a result of fulfilling its obligations under this Agreement.
Borrower shall have the right to pay such tax under protest or to otherwise contest any such tax or assessment, but only if (a) such contest has the effect of preventing the collection of such taxes so contested and also of preventing the sale or forfeiture of any property subject thereto, (b) Borrower has notified Lender of its intent to contest such taxes, and (c) adequate reserves for the liability associated with such tax have been established in accordance with Good Accounting Practice.