Accounting Convention. For convenience in accounting, the Company may, to the extent permitted by law, treat a transfer of an Interest, or an increase or decrease of a Member's Percentage Share, that occurs at any time during a month (commencing with the month including the date of this Agreement) as having been consummated on the first day of that month, regardless of when during that month, the transfer, increase or decrease actually occurs, or adopt such other convention as the Board of Directors may lawfully select.
Accounting Convention. The Financial statements have been prepared in accordance with accrual method of accounting following the historical cost convention as modified by revaluation of certain Fixed Assets.
Accounting Convention. The parties shall mutually agree on a date that shall serve as the cut-off date for all financial accounting and tax accounting purposes hereunder, unless the Closing Date is a Friday or Monday in which case such cut-off shall be on the intervening Saturday.
Accounting Convention. The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied consistently to all the years presented, unless otherwise stated, and the financial statements have been prepared on a going concern basis. The financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as endorsed by the European Union and prepared in accordance with Book 2, Title 9 of the Dutch Civil Code. Where necessary guidance provided by the International Financial Reporting Standards Interpretations Committee ("IFRC IC") has been followed. The financial statements have been prepared under the historical cost convention, except that financial instruments are stated at fair value. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 3. Reclassification of and adjustments to prior year amounts have been made to conform with current year presentation and to correctly reflect the nature of the balances so as to provide additional transparency and information in these financial statements. New and amended standards adopted by the Company There are no IFRS or IFRIC interpretations that are effective for the first time for the financial year beginning on or after 1 January 2017 that would be expected to have a material impact on the Company. New standards, amendments and interpretations not yet adopted The directors have assessed the impact of standards, interpretations and amendments to existing standards that have been published and are mandatory for the Company's accounting periods beginning on or after 1 January 2018 and concluded that the following standards are relevant: IFRS 9 was issued by the International Accounting Standards Board (“IASB”) in July 2014 and replaces the existing guidance in IAS 39 ‘Financial Instruments: Recognition and Measurement’ (“IAS 39”). The standard introduces new guidance on the classification and measurement of financial assets and a single, forward-looking expected credit loss (“ECL”) impairment model. The standard also requires entities to provide users of financial statement...
Accounting Convention. The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied consistently to all the interim periods presented, unless otherwise stated, and the financial statements have been prepared on a going concern basis. These condensed interim financial statements for the six months ended 30 June 2019 have been prepared in accordance with IAS 34, ‘Interim financial reporting’, as adopted by the European Union and in accordance with Book 2, Title 9 of the Dutch Civil Code. The condensed interim financial statements should be read in conjunction with the annual financial statements for the year ended 31 December 2018, which have been prepared in accordance with IFRSs as adopted by the European Union. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain financial assets and financial liabilities measured at fair value through profit or loss. The preparation of the financial statements in conformity with IFRS required the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 5. Reclassification of and adjustments to prior year amounts have been made to conform with current year presentation and to correctly reflect the nature of the balances so as to provide additional transparency and information in these financial statements.
Accounting Convention. The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied to all the years presented, unless otherwise stated. The financial statements have been prepared in accordance with International Financial Reporting Standards as endorsed by the European Union. Where necessary, comparative figures have been amended to conform with change in presentation in the current year. The financial statements have been prepared under the historical cost convention, except that financial assets and financial liabilities held for trading are stated at fair value. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 3. Standards, amendments and interpretations effective in 2008 Standards, amendments and interpretations to existing standards that are effective but not relevant for the Company's operations The following standards, amendments and interpretations to existing standards have been published and are mandatory for the Company's accounting periods beginning on or after 1 January 2008 but are not relevant to the Company's operations: IFRIC 14, IAS 19 - The limit on a defined benefit asset, minimum funding requirements and their interaction (effective 1 January 2008) IFRIC 11, IFRS 2 - Group and treasury share transactions (effective 1 March 2007) IFRIC 12, Service concession arrangements (effective 1 January 2008) X.X. XXXXXX STRUCTURED PRODUCTS B.V. Notes to the financial statements for the year ended 31 December 2008 (continued) 2 Summary of significant accounting policies (continued)
Accounting Convention. The financial statements are prepared in accordance with generally accepted accounting principles under the historical cost convention which comply with financial reporting standards of the Accounting Standards Board.
Accounting Convention. The Completion Accounts shall be prepared under the historical cost convention and in accordance with applicable accounting standards. Advantage shall be taken of the exemption in FRS 1 not to prepare a cash flow statement. Depreciation Depreciation shall be provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value based on the price prevailing at the date of Completion, of each asset evenly over its expected useful life, as follows: Fixtures and fittings over 4 years Computer equipment over 3 years Leasehold improvements over 5 years Grants Grants in respect of capital expenditure shall be deducted from the cost of the relevant assets on a cash receipts basis. Grants of a revenue nature shall be credited to income so as to match them with the expenditure to which they relate. Deferred Taxation Deferred taxation shall be provided using the liability method on all timing differences, which are expected to reverse in the future without being replaced, calculated at the rate at which it is anticipated the timing differences will reverse. Foreign Currencies Transactions in foreign currencies shall be recorded at the rate ruling at the date of the transaction. -------------------------------------------------------------------------------- 74 Monetary assets and liabilities denominated in foreign currencies shall be retranslated at the rate of exchange ruling at the date of Completion (as defined in clause 7.2). All differences shall be taken to the profit and loss account. Operating leases Rentals payable under operating leases shall be charged in the profit and loss account on a straight line basis over the lease term.
Accounting Convention. The Completion Accounts shall be prepared under the historic cost convention.
Accounting Convention. The financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as endorsed by the European Union and prepared in accordance with Book 2, Title 9 of the Dutch Civil Code. Where necessary guidance provided by the International Financial Reporting Standards Interpretations Committee ("IFRC IC") has been followed. The financial statements have been prepared on a going concern basis under the historical cost convention, except that financial instruments are stated at fair value. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 4. Restatement of prior year amounts have been made to conform with current year presentation and to correctly reflect the nature of the balances so as to provide additional transparency and information in these financial statements.
