Business Accounting Principles definition

Business Accounting Principles means GAAP, except to the extent that the accounting principles used to determine the financial statements of the Business are not consistent with GAAP, as shown on Schedule 3.04(c).
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Business Accounting Principles means the accounting principles and practices used by the Business in the preparation of the Financial Statements and the illustrative calculation of working capital set forth in Section 1.1(a) of the Seller Disclosure Schedule;
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Business Accounting Principles shall have the meaning set forth within the definition of Working Capital.
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Examples of Business Accounting Principles in a sentence

  • Accounting and disclosure regulations under the SEL consisted of the Business Accounting Principles 58 (BAP) the principles of which were incorporated into law by the Working Rules for Financial Statements59 in 1949.

  • Financial statements prepared under the SEL will have to be in accordance with the Business Accounting Principles (BAP).The tax laws and the SEL are administered by the National Tax Bureau and the Securities Bureau respectively within the Ministry of Finance (MOF), and the CC is under the jurisdiction of the Civil Bureau of the Ministry of Justice (MOJ).Taxable income is to be computed using accounting profits based on the Commercial Code.

  • Computation of taxable income based on the accounting standards of the Commercial Code, supplemented by the Business Accounting Principles and the tax laws did not create any discord for any of the parties involved.

  • Accounting and disclosure guidelines were laid down in the Business Accounting Principles and the Working Rules for Financial Statements.

  • On the other hand, under JP GAAP Business Accounting Principles, revenue is recognised upon the sale of goods or rendering of services based on the ‘Realisation principle’ and revenue is recognised on a realisation basis.

  • Japanese GAAP consisted of basic principles (i.e., Business Accounting Principles) and accounting standards (i.e., Opinions) issued by the Business Accounting Deliberation Council, the former body of the BAC, as well as interpretation and implementation guidance issued by the Japanese Institute of Certified Public Accountants (JICPA).

  • Also, the complexity of several tasks is increasing, due to both an increase of the available information and an increase in complexity of the environment [Grootjen et al.

  • Such Estimated Purchase Price and all computations and components thereof shall be (x) prepared in accordance with IFRS and the Business Accounting Principles, and accompanied by reasonable detail and supporting documentation, and (y) subject to the reasonable review and comment of Purchaser, and Parent and Seller agree to consider such comments in good faith and in accordance with the requirements of, and the definitions set forth in, this Agreement.

  • In case that the remaining equity interests cannot exercise common control or significant influence over investee, it shall be accounted for under Business Accounting Principles No.22- Recognition and Measurement Principle of Financial Instruments, and the difference between its fair value and carrying value as of the date then the Company lost control shall be included in current period gains and losses.

  • When enhancing note disclosures on the accounting policies and procedures adopted when the requirements in related accounting standards are not clearly defined, note 1-2 of the Business Accounting Principles is carried over to avoid an impact on the accounting practices used when the requirements in the related accounting standards are clearly defined.


More Definitions of Business Accounting Principles

Business Accounting Principles set forth in Section 1.1 of the Purchase and Sale Agreement is hereby amended and restated as follows:
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Related to Business Accounting Principles

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • 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.

  • 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).

  • 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.

  • 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.

  • 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.

  • GAAP means United States generally accepted accounting principles.

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

  • 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.

  • 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.

  • 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.

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

  • 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.

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

  • Australian Accounting Standards refers to the standards of that name, as amended from time to time, that are maintained by the Australian Accounting Standards Board referred to in section 227 of the Australian Securities and Investments Commission Act 2001 (Cth);

  • Fixed GAAP Date means the Issue Date; provided that at any time after the Issue Date, the Company may by written notice to the Trustee elect to change the Fixed GAAP Date to be the date specified in such notice, and upon such notice, the Fixed GAAP Date shall be such date for all periods beginning on and after the date specified in such notice.

  • 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.

  • standards of generally recognised accounting practice means an accounting practice complying with standards applicable to municipalities or municipal entities as determined by the Accounting Standards Board

  • Accounting Standard means GAAP.

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

  • Generally accepted auditing standards means Canadian Generally Accepted Auditing Standards as adopted by the Canadian Institute of Chartered Accountants applicable as of the date on which such record is kept or required to be kept in accordance with such standards.

  • Accounting Information means the annual audited consolidated financial statements or, as the case may be, the quarterly unaudited consolidated financial statements, each in respect of the Borrower and the Group, to be provided by the Borrower to the Agent in accordance with Clause 11.6.

  • 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;

  • UK GAAP means generally accepted accounting principles in the United Kingdom.

  • Historical Financial Statements means the audited consolidated balance sheets of the Borrower as of December 31, 2006 and December 31, 2005 and the audited consolidated statements of income, stockholders’ equity and cash flows of the Borrower for each of the fiscal years in the three year period ending on December 31, 2006.