FAS 115 definition
Examples of FAS 115 in a sentence
All investment securities held by Seller or its Subsidiaries, as reflected in the consolidated balance sheets of Seller included in the Seller Financial Statements, are carried in accordance with GAAP, specifically including but not limited to, FAS 115.
For purposes of this Agreement, the terms “significant deficiency” and “material weakness” shall have the meanings assigned to them in the Statement of Auditing Standard FAS 115 - Communicating Internal Control Related Matters Identified in an Audit, as in effect on the date hereof.
Statement of Financial Accounting Standards No. 115 (FAS 115) requires that an enterprise recognize an impairment of a debt or equity security that is classified as available for sale or held to maturity if the impairment is other than temporary.
The held-to-maturity sales qualified as maturities for purposes of FAS 115.
The shareholders' equity of the Company Bank, as reflected on the books and records of the Company Bank, in accordance with GAAP, taking into account the application of FAS 115, as of the Closing Date and subsequent to the transfer of the International Business (together with the Transferred Assets and Transferred Liabilities) as contemplated by Section 5.10 hereof and the establishment of the amounts referred to in Section 5.15 hereof, shall not be less than $30,000,000.
Such a review shall encompass, as applicable, the factors specified in Statement of Financial Accounting Standards No. 115, “Accounting for Certain Investments in Debt and Equity Securities” (FAS 115), the guidance in FASB Staff Positions No. 115-1 (FSP 115-1) and No. 115-2 (FSP 115-2), and other applicable accounting guidance.
Under FAS 115, debt securities that have readily determinable fair values are to be classified in three categories: held-to-maturity, trading securities and available for sale.
Consolidated Net Worth (consolidated shareholders’ equity excluding the effect of the application of FAS 115) $ B.
JHFS will not, at any time, permit the ratio of (a) total GAAP short- and long-term debt to (b) GAAP total shareholders' equity (after excluding unrealized appreciation and depreciation on certain investments pursuant to FAS 115) plus total GAAP short- and long-term debt, in each case as would be or is shown on JHFS' consolidated balance sheet as of such time prepared in accordance with GAAP, to be greater than 0.40:1:00.
All investment securities held by First County, as reflected in the balance sheets of First County included in the First County Financial Statements, are carried in accordance with GAAP, specifically including but not limited to, FAS 115.