OCBOA definition

OCBOA means Other Comprehensive Basis of Accounting, as designated by Lender in writing as an acceptable alternative to GAAP.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

OCBOA means any other comprehensive basis of accounting as in effect from time to time in the State, consistently applied. This basis of accounting is designed primarily for determining compliance with legal provisions and budgetary restrictions and as a means of reporting on the stewardship of public officials with respect to public funds and is a comprehensive basis of accounting other than generally accepted accounting principles.

OCBOA means Other Comprehensive Basis of Accounting, which for the Company is tax-based accounting on a cash basis.

Examples of OCBOA in a sentence

• All financial reports required to be provided under this Agreement shall be prepared in accordance with GAAP, or an OCBOA acceptable to Lender, applied on a consistent basis, and certified by Borrower as being true and correct.

• Maintain its books and records in accordance with GAAP, or an OCBOA acceptable to Lender, applied on a consistent basis, and permit ▇▇▇▇▇▇ to examine and audit Borrower’s books and records at all reasonable times.

• Provided however, ▇▇▇▇▇▇▇▇ will not be required to pay and discharge any such assessment, tax, charge, ▇▇▇▇, ▇▇▇▇ or claim so long as (1) the legality of the same shall be contested in good faith by appropriate proceedings, and (2) Borrower shall have established on Borrower’s books adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance with GAAP or an OCBOA acceptable to Lender.

More Definitions of OCBOA

OCBOA means Other Comprehensive Basis of Accounting, which for the Company is tax-based accounting on a cash basis. ​

OCBOA means "other comprehensive basis of accounting" applicable to tax basis-cash accounting, as established by the American Institute of Certified Public Accountants under its published Statement on Auditing Standards No. 14.

OCBOA means Other Comprehensive Basis of Accounting, as designated by Lender in writing as an acceptable alternative to GAAP. Permitted Liens. The words "Permitted Liens" mean (1) liens and security interests securing Indebtedness owed by ▇▇▇▇▇▇▇▇ to Lender;

OCBOA means “Other Comprehensive Basis of Accounting.”

OCBOA means Other Comprehensive Basis of Accounting. The Companies use tax-based accounting on an accrual

OCBOA means Another Comprehensive Basis of Accounting (other than GAAP), which, in this case, means the federal income tax basis of accounting, using full accrual, which utilizes certain accounting policies discussed in footnote 1 of the Company's Financial Statements for the year ended October 31, 1996.