Required Accounting Practice definition

Required Accounting Practice means the accounting rules and regulations, if any, at the time prescribed by the regulatory bodies under the jurisdiction of which the Company is at the time operating and, to the extent of matters not covered by such rules and regulations, generally accepted accounting principles applied on a consistent basis as practiced in the United States at the time prevailing for companies engaged in a business similar to that of the Company.
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Required Accounting Practice means, as to any corporation or division thereof, the accounting rules or regulations, if any, at the time prescribed by the regulatory body or bodies under the jurisdiction of which such corporation or division, as the case may be, is at the time operating, and, to the extent that a matter is not covered by such rules or regulations, the accounting rules or regulations at the time prescribed by the Federal Energy Regulatory Commission for companies of established reputation engaged in a business similar to that of such corporation or division, as the case may be, which are at the time operating under the jurisdiction of the Federal Energy Regulatory Commission.
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Required Accounting Practice means the usual and customary accounting practices of Transporter or its Affiliates consistently applied in businesses similar to that conducted by Transporter.
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Examples of Required Accounting Practice in a sentence

  • The Operator shall maintain accurate books and records in accordance with Required Accounting Practice covering all of the Operator's actions under this CO&M Agreement.

  • With COVID 19, the main issue for businesses now is the question of risk management and how loss should be distributed.

  • The GEF policy requires that projects monitor and keep a record of stakeholder consultations with major groups and local communities during project preparation.

  • To the extent the Operator or any of its affiliated companies owns real and/or personal property necessary or desirable for the Operation of the Combined Facilities that (a) under Required Accounting Practice, might be capitalized, and (b) the Operator or such affiliate in its sole discretion is willing to transfer for consideration to the Company, the Operator or such affiliate may, if approved by the Company, so transfer such property to the Company.

  • The total Capital Contributions credited to the Capital Account of a Partner in accordance with §4, plus any profits of the Partnership and less any losses of the Partnership determined in accordance with Required Accounting Practice and allocated to such account in accordance with §4, less any distribution to such Partner pursuant to §§5 or 11.5.2, and less any other adjustments provided for herein.

  • The Operator shall maintain accurate books and records in accordance with the Required Accounting Practice covering all of the Operator’s actions under this Operating Agreement.

  • To the extent the Operator or any of its Affiliates owns real and/or personal property necessary or desirable for the Operation of the Facilities, the Operator or such Affiliate may transfer such property to the Company in accordance with the provisions of the Operating Agreement and, if such property may be capitalized under Required Accounting Practice, then the Operator will do so on the books of the Company.

  • The Operator shall maintain accurate books and records in accordance with Required Accounting Practice covering all of the Company’s activities and the Operator’s actions under the CO&M Agreement.

  • Except as otherwise provided herein, all items of revenue, income, profit, gain, expense, loss, deduction and credit of the Partnership determined in accordance with Required Accounting Practice shall be allocated to the Partners and credited to their respective Capital Accounts in accordance with their respective Percentage Interests as of the date of the allocation.

  • The patient is placed in trendelenburg position (laparoscopic pro- cedures may require up to 30 degrees of trendelen- burg position) to facilitate mobilization of the ab- dominal contents cephalad.4.c. Surgical Technique:Multiple portal configurations can be used depend- ing on the instruments, implants and training of the surgeons.


More Definitions of Required Accounting Practice

Required Accounting Practice means, as to any Person or its financial statements at any time: (1) the accounting rules and regulations, if any, which the Governmental Entities under the jurisdiction of which that Person is operating prescribe at that time; and (2) to the extent those rules and regulations do not otherwise provide, GAAP at that time prevailing for entities engaged in businesses similar to that of that Person.
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Related to Required Accounting Practice

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • standards of generally recognised accounting practice means an accounting practice complying with standards applicable to municipalities or municipal entities as determined by the Accounting Standards Board

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Generally Accepted Accounting Principles means the standards for accounting and preparation of financial statements established by the Federal Accounting Standards Advisory Board (or its successor agency) or any successor standards adopted pursuant to relevant SEC rule.

  • Current Good Manufacturing Practices or “cGMP” means applicable Good Manufacturing Practices as specified in the United States Code of Federal Regulations and/or the EU Good Manufacturing Guidelines, and any successor legislation from time to time, prevailing at the time of the manufacture of the Product.

  • Promising practice means a practice that presents, based on preliminary information, potential for becoming a research-based or consensus-based practice.

  • Good Engineering Practice means, Works carried out in accordance with the following standards/ specifications,

  • Prudent Operating Practice means the mining practices, methods and acts that would be employed by a prudent mining operator having assets and operations similar in type, size, location and scope to Borrower, using modern mining equipment and techniques in the conduct of diligent and safe mining operations in an attempt to recover the maximum amount of economically mineable and merchantable coal from the Mining Facilities with due regard for all Applicable Law, all in accordance and compliance with Environmental or Mining Permits held by Borrower.

  • Good Manufacturing Practices means current good manufacturing practices, as set forth in 21 C.F.R. Parts 210 and 211.

  • Accepted Servicing Practices With respect to any Mortgage Loan, those mortgage servicing practices of prudent mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.

  • Accounting Policies means GAAP, applied in a manner consistent with the accounting policies, principles, practices and methodologies used in the preparation of the Audited Balance Sheet.

  • Good Manufacturing Practice or “GMP” means the current good manufacturing practices (cGMP) and all applicable governmental rules and regulations as applied at the site(s) of manufacture and control, as amended from time to time and in effect during the term of this License Agreement.

  • International Accounting Standards means International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and related Interpretations (SIC-IFRIC interpretations), subsequent amendments to those standards and related interpretations, and future standards and related interpretations issued or adopted by the International Accounting Standards Board (IASB);

  • Accounting Statement means for each financial year, the following statements, namely-

  • Practices means that the practice(s) seems like a logical approach to addressing a specific behavior which is becoming distinct, recognizable among Clients and clinicians in practice, or innovators in academia or policy makers; and at least one recognized expert, group of researchers or other credible individuals have endorsed the practice as worthy of attention based on outcomes; and finally, it produces specific outcomes.

  • Prudent Servicing Practices The standard of care set forth in each Servicing Agreement.

  • Accepted Master Servicing Practices With respect to any Mortgage Loan, as applicable, either (x) those customary mortgage servicing practices of prudent mortgage servicing institutions that master service mortgage loans of the same type and quality as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located, to the extent applicable to the Trustee or the Master Servicer (except in its capacity as successor to a Servicer), or (y) as provided in the applicable Servicing Agreement, to the extent applicable to any Servicer, but in no event below the standard set forth in clause (x).

  • GAAP means United States generally accepted accounting principles.

  • Auditing Profession Act ’ means the Auditing Profession Act, 2005 (Act No. 26 of 2005);

  • Practice of public accounting means the performance or the offering to perform, by a person holding oneself out to the public as a certified public accountant or a licensed public accountant, one or more kinds of professional services involving the use of accounting, attest, or auditing skills, including the issuance of reports on financial statements, or of one or more kinds of management advisory, financial advisory, or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters. However, with respect to licensed public accountants, the “practice of public accounting” shall not include attest or auditing services or the rendering of an opinion attesting to the reliability of any representation embracing financial information.

  • Accounting Procedure means the principles and procedures of accounting set out in Appendix C.

  • Australian Accounting Standards refers to the standards of that name, as amended from time to time, that are maintained by the Australian Accounting Standards Board referred to in section 227 of the Australian Securities and Investments Commission Act 2001 (Cth);