German GAAP definition

German GAAP means the accounting principles, standards and practices generally accepted from time to time in the Federal Republic of Germany.

German GAAP means German generally accepted accounting principles.

German GAAP means the accounting principles established pursuant to the German Commercial Code (Handelsgesetzbuch).

Examples of German GAAP in a sentence

• The Financial Statements have been prepared from the books and records of the Group Companies and present a true and fair view of the financial position of the Business, and the results of operations and cash flows of the Business at the respective dates and for the respective periods then ended in accordance with German GAAP, consistently applied.

• The 2011 Financial Statements shall be prepared in accordance with German GAAP as consistently applied in past practice (in particular the financial statements of the Company for the fiscal year ending on September 30, 2010) maintaining, to the extent permitted under mandatory statutory provisions and accepted accounting principles, full accounting and valuation consistency (Bilanzkontinuität und Bilanzstetigkeit).

• The EMP Accounts have been prepared in accordance with German GAAP in all material respects and have been audited without objections (keine Einwendungen) by the auditor.

• The Purchase Price shall be increased by the amount by which the retained profits (accumulated earnings less declared dividends) (Bilanzgewinn) of the Company for the fiscal year ended September 30, 2011 as determined by the Company’s audited financial statements (Jahresabschluss) (the “2011 Financial Statements”) prepared by accountants of Purchaser’s choice, applying German GAAP (the “Retained Profits”) exceed the amount of EUR 2,000,000.00 (in words: Euro two million).

• Without limiting the generality of the foregoing: (i) the Inventories shown in the Financial Statements are valued at the lower of cost or market value, taking into account sufficient adjustments for obsolete or otherwise non-marketable items; and (ii) the accruals (Rückstellungen) in the Financial Statements have been calculated in accordance with applicable German GAAP.

More Definitions of German GAAP

German GAAP means the accounting principles established pursuant to the German Commercial Code (Handelsgesetzbuch). “German Opco” means Avis Budget Autovermietung GmbH & Co. KG.

German GAAP means generally accepted accounting principles generally used by the accounting profession and in effect in Germany from time to time (Grundsätze ordnungsmässiger Buchführung).

German GAAP means the generally accepted accounting principles as set out in the German Commercial Code (§317 Handelsgesetzbuch “HGB”) for companies in Germany;

German GAAP means German generally accepted accounting principles, consistently applied.

German GAAP has the meaning attributed to such term in Section 1.5;

German GAAP means the German generally accepted accounting principles as set out in the German Commercial Code.

German GAAP has the meaning set forth in Section 7.8.