Spanish GAAP definition

Spanish GAAP means the Spanish General Accounting Plan (Plan general Contable) approved by Royal Decree 1514/2007 as in effect from time to time and consistent with those used in the preparation of the most recent audited financial statements referred to in Clause 22.1 (Financial Statements) of the 2009 Financing Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Spanish GAAP means statutory accounting rules and generally accepted accounting principles in Spain and applicable to Inspire Infrastructure Espana SL.

Spanish GAAP means the requirements applicable to the financial statements and accounts set forth in the Spanish Stock Corporations Act (Ley de Sociedades de Capital), the General Accounting Plan in force in Spain and all resolutions issued by the ICAC (Instituto de Contabilidad y Auditoría de Cuentas), together with accounting principles, standards and practices which are generally accepted in Spain as at the date of the relevant financial statements or accounts.

Examples of Spanish GAAP in a sentence

The Pre-Closing Statement and such consolidated balance sheet shall be prepared in accordance with IFRS and Spanish GAAP.
All Inventory reflected on the Accounts is valued in accordance with Spanish GAAP at the lower of cost or market.
Each of the Audited Financial Statements (including the notes thereto) (i) was prepared in accordance with Spanish GAAP, applied on a consistent basis throughout the periods indicated (except as may be indicated in the notes thereto) and (ii) fairly presents, in all material respects, the financial position, results of operations and cash flows of the Company as at the date thereof and for the period indicated therein, except as otherwise noted therein.
The books and records of Terra and its Subsidiaries have been, an are being, maintained in all material respects in accordance with Spanish GAAP and any other applicable legal and accounting requirements and reflect only actual transactions.
Such books of accounts and other financial records have been prepared in accordance with Spanish GAAP, on a basis consistent with that of prior periods, and present fairly the financial position of the Company as of the dates indicated therein.
The Closing Financial Statements have been prepared in good faith in accordance with the books of account and records of the Company and its Subsidiaries and delivered on an estimated basis in accordance with Spanish GAAP.
All Inventories are on FIFO inventory accounting methods, in accordance with Spanish GAAP consistently with prior fiscal years.
The Financial Statements (i) comply with all applicable accounting requirements, and (ii) were prepared in accordance with Spanish GAAP applied on a consistent basis throughout the periods covered thereby.
The value of inventory and work-in-progress reflected in the financial statements of ITEM Pharma and ITEM Spain have been established in accordance with Spanish GAAP and there has been no material change in the period subsequent to May 31, 1997.
The Spanish Originator shall, and shall permit its Affiliates to deduct only charges for interest, bad debts and other related costs and expenses incurred, in accordance with Spanish GAAP (Plan General de Contabilidad), in determining such taxable income.

More Definitions of Spanish GAAP

Spanish GAAP means the generally accepted accounting principles in Spain in effect from time to time as of the relevant date of determination;

Spanish GAAP means the accounting principles and standards generally accepted in Spain under current applicable law, including the Commercial Code and the Spanish General Accounting Plan (Plan General Contable).

Spanish GAAP means the accounting rules and principles in force in Spain and established under applicable law, including the Commercial Code and the Spanish General Accounting Plan.

Spanish GAAP. : means the accounting principles included in the Spanish General Accounting System (Plan General de Contabilidad) approved by Royal Decree No. 1514/2007 of November 16, or any other successor principles applicable in Spain. Any reference to the General Accounting System shall be understood as a reference to all regulations that may hereafter replace it, including the International Accounting Standards or the International Financial Reporting Standards adopted by the European Union through Regulation (EC) 1725/2003 of the European Commission, in accordance

Spanish GAAP means the generally accepted accounting principles in Spain, as consistently applied by the Company.

Spanish GAAP means (a) the current mercantile legislation contained in the Code of Commerce as amended under Law 16/2007 on the reform and adaptation of accounting legislation to bring it into line with international regulations and European Union legislation, (b) Royal Decree 1514/2007, which approved the new Spanish Chart of Accounts, and (c) Royal Decree 1159/2010, which approved the rules for drawing up consolidated annual accounts, when this does not conflict with the reformed mercantile regulations mentioned above.