GAAP Deviations definition

GAAP Deviations means, with respect to the Financial Statements and the Company's historical financial reporting and accounting past practices, each of the following: (i) inventory is overstated due to the excess application of labor and overhead to finished goods and the erroneous application of labor and overhead to raw materials and packaging supplies; (ii) a reserve for sales discounts and allowances to be applied against outstanding receivable balances is not maintained; (iii) vacation pay is expensed as employees utilize vacation rather than ratably accrued as it is earned; (iv) discretionary bonuses are expensed as paid to employees rather than ratably accrued throughout the fiscal year; and (v) a reserve for self-insured employee health care claims incurred but not reported to the third-party claims administrator is not maintained.

Examples of GAAP Deviations in a sentence

  • The family member who returned a questionnaire had heard of Proposition 63 or the MHSA.

  • Each of the foregoing financial statements (the "Financial Statements") presents fairly the Company's financial condition and results of operations and cash flows as of the times and for the periods referred to therein, and has been prepared in accordance with GAAP, subject to the GAAP Deviations and the absence of GAAP footnote disclosure.

Related to GAAP Deviations

  • Energy Deviation(s) means the absolute value of the difference, in MWh, in any Settlement Interval between (a) the final accepted Bid (as defined in the CAISO Tariff) submitted for the Project for the hour of the Settlement Interval divided by the number of Settlement Intervals in the hour; and (b) Delivered Energy for the Settlement Interval.

  • Deviation is a departure from the requirements specified in the tendering document;

  • Detailed Specifications means the specifications for materials and works as specified in PWD BSR/ issued under the authority of PWD/ or as implied/added to or superseded by the special conditions.

  • Standard Specifications means a compilation in book form of specifica- tions approved for general application and repetitive use;

  • Material Deviation refers to any contents or characteristics of the proposal that is significantly different from an essential aspect or requirement of the RFP, and : (i) substantially alters the scope and quality of the requirements; (ii) limits the rights of UNDP and/or the obligations of the offeror; and (iii) adversely impacts the fairness and principles of the procurement process, such as those that compromise the competitive position of other offerors.

  • Change Orders mean changes or modifications to any Construction Contract or any other contract with labor or material suppliers.

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Material Modifications means any modifications to the material related party transactions which were approved by the Audit Committee or Shareholders during the year which will change the complete nature of the transaction and in case of monetary thresholds which is in excess of 10% of the originally approved transaction, in case of exigencies only.

  • Latest Projections means: (a) on the Closing Date and thereafter until the Agent receives new projections pursuant to Section 7.2(f), the projections of the Borrower’s financial condition, results of operations, and cash flows, for the period commencing on April 1, 2009 and ending on March 31, 2010 and delivered to the Agent prior to the Closing Date; and (b) thereafter, the projections most recently received by the Agent pursuant to Section 7.2(f).

  • Approved Project Budget means the most recent statement, approved by the FTA, of the costs of the Project, the maximum amount of Federal assistance for which the TJPA is currently eligible, the specific tasks (including specified contingencies) covered, and the estimated cost of each task.

  • Operating Statement Analysis Report format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Plans and Specifications means the plans, drawings and specifications reasonably necessary to properly assess and review proposed Work prior to issuance of any approval that may be required under this Agreement;

  • Base Case Projections means the initial forecast for the Project prepared as of the Effective Date using the Base Case Financial Model.

  • Project Budget means the budget and project description included in the grant application. The Project Budget must succinctly describe all major elements of project work, the estimated cost of each, and clearly allocate requested grant funding and match contributions to each.

  • Budgets has the meaning set forth in Section 2.12(b).

  • CMSA Operating Statement Analysis Report means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Operating Statement Analysis Report" available as of the Closing Date on the CMSA Website or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage-backed securities transactions generally.

  • Specifications means the Specifications of the Works included in the Contract and any modification or addition made or approved by the Project Manager.

  • Functional Specifications means the descriptions of features and functions of the Application as expressly set forth in Quote.

  • Web Site Accessibility Standards/Specifications means standards contained in Title 1 Texas Administrative Code Chapter 206.

  • Web Site Accessibility Standards/Specifications means standards contained in Title 1 Texas Administrative Code Chapter 206.

  • CREFC® Operating Statement Analysis Report The monthly report in the “Operating Statement Analysis Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Technical Specifications means the detailed requirements for the Work furnished by the Architect and set forth in Book 3 of the Contract Documents.

  • BASE budget means the minimum general fund budget of a district, which includes 80% of the basic

  • Contract Specifications means the principal trading terms in CFD (for example Spread, Swaps, Lot Size, Initial Margin, Necessary Margin, Hedged Margin, the minimum level for placing Stop Loss, Take Profit and Limit Orders, financing charges, charges etc) for each type of CFD as determined by the Company from time to time.

  • Approved Budget means an annual budget-

  • Engineering Reports has the meaning assigned such term in Section 2.07(c)(i).