Reasonable Estimation definition

Reasonable Estimation means any method of estimation that is calculated to lead to the discovery of escheatable property to [STATE] and is performed in accordance with the American Institute of CPAs (AICPA) Statements on Auditing Standards (SAS) No. 39, including, but not limited to, statistical and non- statistical sampling based on periods of time and transactions as bases. If the administrator deviates from the standards provided for in SAS No. 39, the administrator has the burden of demonstrating the reasonableness of the method chosen to estimate reportable property.
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Examples of Reasonable Estimation in a sentence

  • In accordance with SFAS No. 5, "Accounting for Contingencies", as interpreted by the FASB Interpretation No. 14, "Reasonable Estimation of the Amount of a Loss", if the Company has determined that the reasonable estimate of the loss is a range and there is no best estimate within the range, the Company will provide the lower amount of the range.

  • ITT accounts for environmental costs in accordance with FASB Statement No. 5, "Accounting for Contingencies", AICPA Statement of Position 96-1, "Environmental Remediation Liabilities," and FASB Interpretation No. 14, "Reasonable Estimation of the Amount of a Loss." Accruing Environmental Liabilities Environmental liabilities are accrued by a charge to income when an expense or loss is probable (i.e., likely to occur) and the amount of loss can be reasonably estimated.

Related to Reasonable Estimation

  • Reasonable Expenses means the reasonable expenses of Employee or Personnel, as the case may be, for which those Employees or Personnel may be reimbursed under the Operator's usual expense account practice; including without limiting the generality of the foregoing, any relocation expenses necessarily incurred in order to properly staff the Mining Operations if the relocation is approved by the Management Committee.

  • Reasonable grounds means that a reasonable person in your position would also suspect the information indicates misconduct or a breach of the law.

  • Reasonable suspicion means a basis for forming a belief based on specific facts and rational inferences drawn from those facts.

  • Estimate means to be based on technical evaluation of the sources contributing to the discharge including, but not limited to, pump capabilities, water meters, and batch discharge volumes.

  • Reasonable cost means a cost for a service or item that is consistent with the market standards for comparable services or items.