FAS 5 definition
Examples of FAS 5 in a sentence
We also hereby inform you that we have represented to our auditors that there are no unasserted possible claims that you have advised are probable of assertion and must be disclosed in accordance with FAS 5 in our financial statements dated as of [enter the date of the last audited financial statements or the date of the last balance sheet] and for the year then ended.
Thailand Tax Provision and Reporting Preparation and submission of all materials at the State, Federal and International (ex-US) levels required for the quarterly income Tax provision to ensure compliance under FAS 109, FAS 5, FAS 123R and FIN 48, and all amendments or changes thereto.
The reserves for regulatory matters set forth in the Combined Balance Sheet have been established in accordance with the FAS 5 requirements of accruing estimable and probable matters.
In determining such Remaining Indemnity Amount with respect to Claims relating to a matter then in litigation, the Accounting Firm will take steps similar to those that would be taken in establishing a reserve under FAS 5 (including consultation with the counsel litigating such matter).
The reserves for litigation set forth in the Combined Balance Sheet have been established in accordance with the FAS 5 requirements of accruing estimable and probable matters.
Except as set forth on Schedule 5.16 of the Disclosure Schedules, there are no material "loss contingencies" (as defined in Statement of Financial Accounting Standards No. 5 issued by the Financial Accounting Standards Board in March 1975 ("FAS 5")), which would be required by FAS 5 to be disclosed or accrued in financial statements of Wireless were such statements prepared at the time this warranty is made or deemed made.
The Association shall maintain an adequate ALLL that is appropriate considering the Financial Account Standards Board, Accounting Standard Codification (ASC) 450 (formerly known as FAS 5) and ASC 310 (formerly known as FAS 114), the results of the Association’s internal loan review, loan and lease loss experience, trends of delinquent and non-accrual loans, an estimate of potential loss exposure on significant credits, concentrations of credit, and present and prospective economic conditions.
This review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook and shall include the Bank’s methodology for determining and measuring impairment under FAS 114 and FAS 5.
This review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, as well as the guidance provided by FAS 5 and FAS 114.
At the date of the Parent Balance Sheet, there were no material loss contingencies (as such term is used in FAS 5) that are not adequately provided for in the Parent Balance Sheet as required by FAS 5.