Accounting Method Sample Clauses
The Accounting Method clause defines the specific system or set of principles that a party must use to record and report financial transactions under an agreement. Typically, it specifies whether cash or accrual accounting is required, and may outline any particular standards (such as GAAP or IFRS) that must be followed. By establishing a consistent accounting approach, this clause ensures transparency and comparability in financial reporting, reducing the risk of disputes over financial statements or calculations.
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Accounting Method. For both financial and tax reporting purposes, the books and records of the Company shall be kept on the accrual method of accounting applied in a consistent manner and shall reflect all Company transactions and be appropriate and adequate for the Company’s business.
Accounting Method. For both financial and tax reporting purposes, the books and records of the Partnership shall be kept on the accrual method of accounting applied on a consistent basis and shall reflect all Partnership transactions.
Accounting Method. The books and records of account of the Company shall be prepared and maintained on the same basis and in a manner consistent with the investment and business records of the Sole Member or Members.
Accounting Method. The Company will account for its financial transactions using a method of accounting determined by the Member.
Accounting Method. The books and records of account of the Company shall be maintained in accordance with the accrual method of accounting.
Accounting Method. The Series, for accounting and income tax purposes, shall operate on a fiscal year ending December 31 of each year, and shall make such income tax elections and use such methods of depreciation as shall be determined by the Manager. The books and records of the Series will be kept on a GAAP basis in accordance with sound accounting practices to reflect all income and expenses of the Series.
Accounting Method. The books of the Partnership shall be maintained, for financial and tax reporting purposes, on an accrual basis in accordance with GAAP.
Accounting Method. The accounting for purposes of the Company shall be in accordance with accounting principles determined by the Manager.
Accounting Method. 40 Section 10.4 Annual Audit ............................................ 40
Accounting Method. The Company will account for its financial transactions using the accrual basis method of accounting. The Manager reserves the right to change such methods of accounting upon written notice to Members.