Colombian GAAP definition

Colombian GAAP means generally accepted accounting principles as prescribed by the Superintendency of Finance for banks licensed to operate in Colombia, consistently applied, as in effect on the Issue Date.
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Colombian GAAP means generally accepted accounting principles in Colombia as applicable to CorpBanca Colombia and its Subsidiaries (including pursuant to the Circular Básica Contable y Financiera and Decree 2649 of 1993, as such accounting principles may be applied or interpreted by the Colombian Financial Superintendency (Superintendencia Financiera de Colombia) to banks or other financial institutions licensed in Colombia or such other replacement accounting principles as the Colombian Financial Superintendency from time to time as officially interpreted or applied to such banks).
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Colombian GAAP means generally accepted accounting principles in Colombia, as in effect from time to time, as in effect from time to time.
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Examples of Colombian GAAP in a sentence

  • Some companies did not show the provision for bad debts on the income statement and balance sheet, as required under Colombian GAAP and the accounting rules of the securities market regulator.• Inventories.

  • And the Colombian GAAP has not been updated to reflect IAS requirements since 1993, when Decree 2649 was enacted.

  • Law 43 of 1990 requires the revisor fiscal to conduct work in accordance with Colombian GAAP, but it does not specify any other auditing standards or procedures.

  • Moreover, because the Colombian GAAP only briefly covers some complicated accounting issues, different parties interpret accounting and reporting requirements in different ways, exacerbating the large gap between Colombian GAAP and IAS.

  • The Council developed a set of accounting principles that they termed Colombian GAAP.

  • Unfortunately, the tax accounting rules are generally not consistent with the Colombian GAAP or with internationally accepted accounting principles.

  • The Technical Council has not updated Colombian GAAP to reflect changes in U.S. GAAP and IAS since 1993.

  • Colombian GAAP is not consistent with the U.S. GAAP and other international standards.

  • The Board is ultimately responsible for the design, the approval and the oversight of the Bank’s remuneration policy.

  • The accounting rules issued by various regulators were intended to supplement the Colombian GAAP.


More Definitions of Colombian GAAP

Colombian GAAP means generally accepted accounting principles in Colombia as applicable to CorpBanca Colombia and its Subsidiaries (including pursuant to the Circular Básica Contable y Financiera and Decree 2649 of 1993, as such accounting principles may
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Colombian GAAP means accounting principles generally accepted in the Republic of Colombia.
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Related to Colombian GAAP

  • Brazilian GAAP means, collectively, the accounting principles prescribed by Brazilian Corporate Law, the rules and regulations issued by applicable regulators, including the CVM, as well as the technical releases issued by the Brazilian Institute of Accountants (Instituto Brasileiro de Contadores), in each case as in effect from time to time.

  • Mexican GAAP means generally accepted accounting principles in Mexico in effect on the Issue Date.

  • Canadian GAAP means Generally Accepted Accounting Principles as provided in the Handbook of the Canadian Institute of Chartered Accountants.

  • GAAP means United States generally accepted accounting principles.

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

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

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

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

  • 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.

  • SAP means the SAP entity that has entered into this Agreement, as well its Affiliates.

  • 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).

  • 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.

  • IAS means International Accounting Standards.

  • Fixed GAAP Terms (a) the definitions of the terms “Capitalized Lease Obligation,” “Consolidated Depreciation and Amortization Expense,” “Consolidated Interest Expense,” “Consolidated Net Income,” “Consolidated Tangible Assets,” “Consolidated Working Capital,” “EBITDA,” “ECF CNI,” “Excess Cash Flow,” “Fixed Charge Coverage Ratio,” “Fixed Charges,” “Funded Debt,” “Indebtedness,” “Investments,” “Net Income,” “Senior Secured Indebtedness” and “Senior Secured Indebtedness to EBITDA Ratio,” (b) all defined terms in this Agreement to the extent used in or relating to any of the foregoing definitions, and all ratios and computations based on any of the foregoing definitions, and (c) any other term or provision of this Agreement or the other Loan Documents that, at the Borrower’s election, may be specified by the Borrower by written notice to the Administrative Agent 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.

  • 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.

  • HKFRS Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants

  • 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);

  • 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.

  • 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);

  • 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.

  • IASB means the International Accounting Standards Board;

  • Uniform System of Accounts means the most recent edition of the Uniform System of Accounts for Hotels as adopted by the American Hotel and Motel Association.

  • International Financial Reporting Standards means the accounting standards and interpretations adopted by the International Accounting Standards Board.

  • 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.

  • South Caucasus/Central and South Asian (SC/CASA) state means Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, or Uzbekistan.