Proper Accounting Clause Samples

The Proper Accounting clause requires parties to maintain accurate and complete financial records related to the agreement. This typically involves keeping detailed books, supporting documentation, and making such records available for inspection or audit by the other party upon request. By ensuring transparency and accountability in financial matters, this clause helps prevent disputes over payments, expenses, or revenue sharing, and supports compliance with legal or contractual obligations.
Proper Accounting. As promptly as possible after dissolution and again after final liquidation, the liquidators shall cause a proper accounting to be made by a recognized firm of certified public accountants of the Company’s assets, liabilities and operations through the last day of the calendar month in which the dissolution occurs or the final liquidation is completed, as applicable;
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Proper Accounting. Compliance with accepted accounting rules and internal accounting controls is required at all times. The books and accounts, documentation supporting the disbursement of funds, and all other Company financial records must accurately and fairly reflect all transactions.
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Proper Accounting. The House and Conference included a new section requiring the Department to use proper accounting for spending and forbidding the Department from using FTEs as spending placeholders. Also requires a report on the number of FTEs in pay status. (Sec. 240 of Conference Report)
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Related to Proper Accounting

  • Fiscal Year; Accounting The Company's fiscal year shall be the calendar year with an ending month of December.

  • Monthly Accountings Silicon shall provide Borrower monthly with an account of advances, charges, expenses and payments made pursuant to this Agreement. Such account shall be deemed correct, accurate and binding on Borrower and an account stated (except for reverses and reapplications of payments made and corrections of errors discovered by Silicon), unless Borrower notifies Silicon in writing to the contrary within thirty days after each account is rendered, describing the nature of any alleged errors or admissions.

  • Fund Accounting The Trustees may in their discretion from time to time enter into one or more contracts whereby the other party or parties undertakes to handle all or any part of the Trust’s accounting responsibilities, whether with respect to the Trust’s properties, Shareholders or otherwise.

  • Tax Accounting Services (1) Maintain accounting records for the investment portfolio of the Fund to support the tax reporting required for “regulated investment companies” under the Internal Revenue Code of 1986, as amended (the “Code”). (2) Maintain tax lot detail for the Fund’s investment portfolio. (3) Calculate taxable gain/loss on security sales using the tax lot relief method designated by the Trust. (4) Provide the necessary financial information to calculate the taxable components of income and capital gains distributions to support tax reporting to the shareholders.

  • Fund Accounting Services Ultimus will provide the Trust with the fund accounting services as set forth below: