Honduran GAAP definition

Honduran GAAP means generally accepted accounting principles in the Republic of Honduras, as in effect from time to time.

Examples of Honduran GAAP in a sentence

  • On a positive note, however, several companies voluntarily observed some of the provisions of IFRS even though Honduran GAAP would not require them to do so.

  • As compared with IFRS, Honduran GAAP fall short in several respects.

  • Honduran GAAP allow management more discretion on how to report on financial performance, and may yield potentially misleading financial statements that overstate a firm’s value.

  • While Honduran GAAP may represent a suitable reporting framework for Honduras’s smallest companies, they are not comprehensive enough for larger companies or companies that deal with certain types of transactions.

  • It is unclear whether the intent is tohave Honduran GAAP apply on a transitional basis or if local standards will co-exist in parallel with international standards.

  • Cham: Springer International Publishing Machine Learning and Knowledge Discovery in Databases, 2019-01-18, p.639-6426.

  • However, no implementing legislation has been issued to detail the adoption process.• The law states that Honduran GAAP will continue to apply after 2008.

  • A first attempt to codify Honduran GAAP was made in October 1995 with the Colegio de Peritos Mercantiles’ (Para.

  • Finally, Honduran GAAP require a much lower level of disclosure than IFRS in the notes to the financial statements.

  • All such financial statements have been prepared (i) in conformity with Honduran GAAP consistently applied throughout the periods indicated and (ii) in accordance with the books of accounts and other financial records of Company and its Subsidiaries.

Related to Honduran GAAP

  • 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.

  • 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.

  • 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.

  • 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).

  • 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.

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

  • 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.

  • 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.

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

  • GAAS means generally accepted auditing standards in the United States.

  • IAS means International Accounting Standards.

  • 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 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);

  • 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.

  • 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.

  • 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.

  • 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 Standard means GAAP.

  • 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.