Accruals Clause Samples
The Accruals clause defines how revenues and expenses are recognized over time, rather than when cash is actually received or paid. In practice, this means that income earned but not yet received, or costs incurred but not yet paid, are recorded in the relevant accounting period. For example, if services are provided in one month but payment is received in the next, the revenue is still recorded in the month the service was performed. This clause ensures that financial statements accurately reflect the true financial position and performance of a business by matching income and expenses to the periods in which they occur, thereby preventing misrepresentation of financial results.
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Accruals. All material accruals for unpaid vacation pay, premiums for unemployment insurance, health premiums, federal or provincial pension plan premiums, accrued wages, salaries and commissions and payments for any plan for any officer, director, employee or consultant of the Corporation have been accurately reflected in the books and records of the Corporation.
Accruals. All eligible supervisors shall accrue vacation leave according to the following rates: Length of Service Requirement Rate Per Full Payroll Period 0 through 5 years 4 working hours After 5 through 8 years 5 working hours After 8 through 12 years 7 working hours After 12 through 19 years 7½ working hours After 19 through 24 years 8 working hours After 24 through 30 years 8½ working hours After 30 years 9 working hours Length of service is defined as the length of employment with the State of Minnesota since the last date of hire in accordance with Section 1(A). Length of service shall be interrupted only by separation because of resignation, termination, discharge for just cause, failure to return upon expiration of a leave of absence, failure to respond to a recall from layoff, or retirement. A supervisor shall not suffer a reduction in his/her vacation accrual rate due to being covered by a contract or plan with a vacation accrual scale with a different length of service requirement component than that indicated above. For purposes of determining changes in a supervisor's accrual rate, periods of suspension or unpaid non-medical leaves of absence shall not be deducted from the Length of Service Requirement unless they are one (1) full payroll period or more in duration. However, for supervisors on an unpaid military leave of any duration, or an FMLA qualifying leave of any duration, no adjustment to accrual rates shall be required. This method will be effective only after this date and shall not be used to change any Length of Service Requirements determined prior to that date. Changes in accrual rate shall be made effective at the beginning of the next payroll period following completion of the specified Length of Service Requirement. Supervisors being paid for less than a full eighty (80) hour pay period will have their vacation accruals pro-rated in accordance with the schedule set forth in Appendix C.
Accruals. All eligible employees shall accrue vacation in accordance with the following rates:
Accruals. Accruals shall be recorded observing the following: Recorded accruals must be reversed in the subsequent accounting period.
Accruals. All cash received in respect of Investments, including dividends and interest, will be reinvested, unless at ▇▇▇▇▇’s discretion, it resolves to declare dividends or repay capital to Shareholders.
Accruals. 15.1 All cash accruals received in respect of investments, including dividends will be paid into the Client’s bank account detailed in part B of this Agreement or as amended from time to time and in accordance with regulatory requirements.
Accruals. When an employee is recalled from layoff and re-employed, he/she is considered to have continuous service credit, less the time spent on layoff, for computation of future earned vacations. Sick leave will be reinstated in an amount equal to that as of the date of the employee's layoff if he/she does not receive a payout as described in 12.13
Accruals. The vacation entitlement of each bargaining unit employee shall be as follows:
Accruals. All cash received in respect of realisation of Investments in MCP III, including dividends declared and paid by each of the Selected VCC’s, will be paid into the MCM Nominated Account, where after MCM will on pay such cash to the Investor less any fees payable (as more fully detailed herein and the Investment Memorandum) that may be owing.
Accruals. All cash accruals received in respect of investments, including dividends will be paid in accordance with the client’s instructions and regulatory requirements.