K-GAAP definition

K-GAAP means the generally accepted accounting principles in Korea applicable to a company as accounting standards in accordance with Article 5(1) of the Act on External Audit of Stock Companies and applied as the underlying accounting standards of an auditor’s audit report on the financial statements of the relevant company.
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K-GAAP means generally accepted accounting principles for financial reporting in Korea, as in effect as of the date of this Agreement.
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K-GAAP means Korea generally accepted accounting principles, as in effect from time to time, applied on a consistent basis.
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Examples of K-GAAP in a sentence

  • Any accounting terms used herein shall, unless specifically otherwise defined herein, be used or interpreted in accordance with the K-GAAP.

  • The Borrower shall deliver to the Facility Agent each audit report on the financial statements of the Borrower prepared by an accounting firm reasonably approved in advance by the Facility Agent within ninety [(90) days] after the end of each fiscal year, (and such report shall include such accounting firm’s opinion that the financial statements of the Borrower are fairly indicated from the perspective of materiality in accordance with the K-GAAP).

  • No financial statements of any Person other than the Company are required by K-GAAP to be included in the financial statements of the Company.

  • The Borrower shall keep and maintain books, record and other materials in connection with the Project in accordance with the applicable Laws and the K-GAAP.

  • The Locked Box Accounts have been prepared in accordance with K-GAAP and fairly represent the assets and liabilities and profit and losses of the Company as of the date on which they have been prepared.

  • The most recent financial statements (including the income statement and the statement of financial position) of the Borrower were prepared in accordance with the Korean Laws, the K-GAAP, and other accounting principles generally applied in Korea, and present a fair description of the financial condition of the Borrower for the time and period indicated.