NGAAP definition
Examples of NGAAP in a sentence
Any amounts relating to the funded or underfunded status and unrecognised actuarial losses or gains in relation to the Norwegian Defined Benefit Pension Scheme, as accounted for under NGAAP (NRS6), shall be classified as 'Other' and excluded from both the Final Working Capital (and Working Capital Estimate) and the Final Net Debt (and the Net Debt Estimate).
Fixed capital and the real investment account on a cash basis – see the capital accounts on page 61 – are not affected by the gain calculation made under NGAAP.
In accordance with the requirements of NGAAP, ▇▇▇▇▇▇ acting on behalf of the SDFI calculated a gain from the 2002 sales which is reflected in the SDFI’s income statement.
In addition, accounts are prepared in accordance with the Norwegian Accounting Act and Norwegian generally-accepted accounting principles (NGAAP).
To calculate the gain on the 2002 sales, however, the payments are recorded as required by NGAAP in the SDFI’s accounts with equity as the offsetting entry.
The share has been converted at the exchange rate prevailing on 31 December 2003, and changes in the NOK figure owing to changes in exchange rates are recorded as a conversion difference in the NGAAP accounts.