Definition of Practices and Procedures


Practices and Procedures means the accounting methods, polices, practices and procedures, including classification and estimation methodology, used by Sellers in the preparation of the Financial Information to the extent the same are in accordance with GAAP; and if the same are not in accordance with GAAP, then in accordance with GAAP.
Sample 1

Examples of Practices and Procedures in a sentence

The commissioner shall be guided by the limitations, restrictions, or other requirements of this code or the National Association of Insurance Commissioners' Accounting Practices and Procedures Manual in determining whether assets substantially similar to those described in Sections 1190 to 1202, inclusive, qualify.
The settlement of any balance payable pursuant to this Section 6 shall be in accordance with the requirements in the National Association of Insurance Commissioners' Accounting Practices and Procedures Manual.
When appropriate, each Port Authority department, office and/or business unit, as well as contractors/consultants, should create a --Confidential Information Practices and Procedures|| (--CIPP||) document with additional guidelines for their respective businesses.
Additionally, the DISO is responsible for approving the departmental Confidential Information Practices and Procedures (--CIPP||) document and, before authorizing its use, for submitting the CIPP to the CISO for final approval and providing periodic reports to the CISO, as the CISO may require.
Before the date hereof, Seller has made available to Buyer in writing the material Policies, Practices and Procedures.