USGAAP definition

USGAAP means the accounting principles which are recognized as being generally accepted and which are in effect from time to time in the U.S. as codified by the Financial Accounting Standards Board, or any successor institute.

Examples of USGAAP in a sentence

  • Under USGAAP, transactions are recorded in the accounts when revenues are earned and liabilities are incurred.

  • The County’s basis of accounting is the modified cash basis, which is a basis of accounting other than USGAAP.

  • If the County applied USGAAP, the fund financial statements for governmental funds would use the modified accrual basis of accounting.

  • In accordance with U.S.GAAP, Toyota classifies fair value into three levels of input as follows which are used to measure it.

  • Under USGAAP, transactions are recorded in the accounts when revenues are earned, and liabilities are incurred.


More Definitions of USGAAP

USGAAP means generally accepted accounting principles in the United States of America. “Utilisation” means a utilisation of the Term Loan Facility.
USGAAP means generally accepted accounting principles in the United States of America as in effect from time to time; provided that determinations made pursuant to this Agreement in accordance with U.S. GAAP are subject (to the extent provided therein) to Section 13.07(a).
USGAAP means accounting principles generally accepted in the United States of America applied on a consistent basis; provided that, solely for purposes of any calculation required by any financial covenants contained herein or in an indenture supplemental hereto, "USGAAP" shall mean accounting principles generally accepted in the United States of America on the date hereof, or on the date of such supplemental indenture, as the case may be, applied on a consistent basis.