The Accounting Year Clause Samples

The Accounting Year clause defines the specific 12-month period used by a business or organization for financial reporting and accounting purposes. Typically, this period may align with the calendar year or follow a fiscal year that starts and ends on dates chosen by the company, such as July 1 to June 30. By clearly establishing the accounting year, this clause ensures consistency in financial statements, tax filings, and performance comparisons, thereby promoting clarity and uniformity in financial management and reporting.
The Accounting Year. The accounting year shall be twelve full calendar months. The accounting year may be established by Tenant, provided Tenant notifies Auditor-Controller in writing of the accounting year to be used. Said accounting year shall be deemed to be approved by Auditor-Controller unless Auditor-Controller has objected to Tenant’s selection in writing within sixty (60) days of Tenant’s written notification. 15.2.1. In the event Tenant fails to establish an accounting year of its choice, regardless of the cause, the accounting year shall be synonymous with the twelve-month period contained in the first one-year term of the Lease. 15.2.2. Any portion of a year that is not reconciled, should the accounting year and the anniversary year of the lease commencement not be the same, shall be accounted for as if it were a complete accounting year. 15.2.3. Once an accounting year is established, it shall be continued through the term of the lease unless Auditor-Controller specifically approves in writing a different accounting year. Auditor-Controller shall only approve a change in accounting years in the event of undue hardship being placed on either the Tenant or County, and not because of mere convenience or inconvenience.
View SourceView Similar (9)
The Accounting Year. The accounting year shall be twelve (12) full calendar months commencing on January 1 and ending on December 31 each year. The accounting year may be established by ▇▇▇▇▇▇, provided Tenant notifies Auditor-Controller in writing of the accounting year to be used. Said accounting year shall be deemed to be approved by Auditor-Controller unless Auditor-Controller has objected to Tenant's selection in writing within sixty (60) days of Tenant's written notification. Any portion of a year that is not reconciled, should the accounting year and the anniversary year of the Lease commencement not be the same, shall be accounted for as if it were a complete accounting year. Once an accounting year is established, it shall be continued through the Term of the Lease unless Auditor-Controller specifically approves in writing a different accounting year. Auditor-Controller shall only approve a change in accounting years in the event of undue hardship being placed on either the Tenant or Lessor, and not because of mere convenience or inconvenience.
View SourceView Similar (3)
The Accounting Year. The accounting year shall be twelve full calendar months commencing with the first full calendar month following execution of this LEASE.
View SourceView Similar (2)
The Accounting Year. The accounting year shall be twelve full calendar months. The accounting year may be established by TENANT, provided TENANT notifies Auditor-Controller in writing of the accounting year to be used. Said accounting year shall be deemed to be approved by Auditor-Controller unless
View Source
The Accounting Year. The accounting year shall be 12 full calendar months. The accounting year may be established by the Grantee provided the Grantee notifies the Grantor in writing of the accounting year to be used. The accounting year shall be deemed to be approved by the Grantor unless Grantor has objected to the Grantee’s selection in writing within sixty (60) days of Grantee’s written notification. In the event the Grantee fails to establish an accounting year of its choice, regardless of the cause, the accounting year shall be synonymous with the twelve month period contained in the first one year term of the agreement. Once an accounting year is established, it shall be conducted through the term of the agreement unless Grantor specifically approves in writing a different accounting year. The Grantor shall only approve a change in the accounting year in the event of undue hardship being placed on either the Grantee or the Grantor and not because of mere convenience or inconvenience. All of Grantee’s books of accounts and records related to this agreement or its business operations conducted within or from the Premises shall be kept and made available at one location within the limits of the City of Buckeye. The Grantor shall, through its duly authorized agents or representatives, have the right to examine and audit said books of accounts and records at any and all reasonable times for the purpose of determining the accuracy thereof and of the monthly statement of sales made and monies received. The cost of said audit shall be borne by the Grantor unless the audit reveals a discrepancy of more than five percent (5%) between the amount due as reported by the Grantee in accordance with this agreement and the amount due as determined by said audit. In the event of greater discrepancy, the full cost of the audit as determined by the Grantor shall be paid by the Grantee.
View Source

Related to The Accounting Year

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

  • Annual Accounting Period The annual accounting period of the Company shall be its taxable year. The Company’s taxable year shall be selected by the Member, subject to the requirements and limitations of the Code.

  • Accounting Period The Company’s accounting period shall be the calendar year.

  • Fiscal Year and Accounting Method The fiscal year of the Company shall be as designated by the Board of Directors. The Board of Directors shall also determine the accounting method to be used by the Company.

  • Annual Accounting The Custodian shall, at least annually, provide the Depositor or Beneficiary (in the case of death) with an accounting of such Depositor's account. Such accounting shall be deemed to be accepted by the Depositor or the Beneficiary, if the Depositor or Beneficiary does not object in writing within 60 days after the mailing of such accounting statement.