Open Book Accounting definition

Open Book Accounting. Means arrangements whereby all of the Provider's financial

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Open Book Accounting means the structured management and sharing of transparent, complete, accurate, current and accessible costing information– including data which would traditionally have been kept confidential – so as to facilitate the joint management of the Pooled Fund and facilitate better use of the resources in commissioning services and exercise of NHS Functions and/or Health Related Functions. Overspend means any expenditure from a Pooled Fund in a Financial Year which exceeds the Financial Contributions for that Financial Year.

Open Book Accounting means an arrangement in which the Purchaser grants Kāinga Ora access at reasonable times on reasonable notice to multiple layers of accounting information in a constant and consistent manner and in particular shares costs information in a complete, transparent, accurate, current and readily accessible manner.

Examples of Open Book Accounting in a sentence

As part of the Open Book Accounting Principles, the Authority should have confidence that the Operator’s management information systems and financial systems are understood and are reliable for the intended purpose.
In seeking the Authority's consent for any Sub-Contract the Operator shall provide the Authority on request with a copy of the terms of the proposed Sub-Contract including in relation to the relevant charges a statement in accordance with the Open Book Accounting Principles set out in Schedule 6 (Finance).
Open Book Accounting On a quarterly basis, the Contractor(s) must detail to the Authority all costs associated with the delivery of the framework and demonstrate how those costs deliver value for money for the Scottish public sector.
Premise Insert Premises XXXXX Open Book Accounting Is a particular type of supply-chain assurance where the Provider shares information about the costs and profits in the Care Services of this Agreement.
Open Book Accounting is required to enable the Authority to independently validate the level of margin made by the Operator and to ensure that the provision of the Services provides Value for Money.
The Parties agree to review changes in costs in relation to the provision of the Services in accordance with Open Book Accounting Principles and in the context of the strategic and legislative landscape at the time of the review.
The successful bidder will be required to adopt Open Book Accounting principles It will form the basis of the calculation of Authority Gainshare, by audit and analysis of actual Operating performance against that submitted within this model.
The starting point for such changes will be as specified in Condition 8.6 (Open Book Accounting).
In the case of a NxStage Main Set Code NNC, such new proposed price(s) shall include a revised Open Book Accounting ("Revised Open Book Accounting") comprising the new direct material, direct labor and variable overhead unit standard costs of MDS at MDM, or the manufacturing site at which applicable Codes are then manufactured, which together with MDS' unit fixed overhead and gross profit, shall total the proposed price for such Main Set Code NNC (A "Proposed Revised Price") at all Tiers.
There will be complete transparency and the principles of Open Book Accounting will apply.

More Definitions of Open Book Accounting

Open Book Accounting means the breakdown of all costs and charges of the Contractor and each of its subcontractors on an open book basis showing directly incurred costs and any mark up, profit element, management fee or other return for the Contractor or the subcontractor as far down the Contractor’s supply chain as reasonably possible. Source: HVF 2023 Framework Agreement

Open Book Accounting or “Open Book”

Open Book Accounting means the disclosure by the Contractor of all material data and infor- mation which relate to the performance of the Contractor’s's obligations under this Contract in- cluding staff costs, resources used, valuations, cost variations, profit margins, payment mecha- nisms, budget planning, defaults, claims, insurance, recovery of costs, administration and over- head costs, payments to sub-contractors and suppliers, transactions with intra-group and related parties, corporate overheads and the basis of such charges, capital expenditure, income from third parties and any other matter which is reasonably incidental to the performance of the Contractor's obligations under this Contract provided always that such information shall at all times be pre- pared and maintained in accordance with appropriate accounting practices (in accordance with Good Industry Practice)