Financially Literate definition

Financially Literate means the ability to read and understand a set of financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and complexity of the issues that can reasonably be expected to be raised by the Corporation’s financial statements.

Financially Literate means a person who has the ability to read and understand basic financial statements i.e. balance sheet, profit and loss account, and statement of cash flows.

Financially Literate means the ability to read and understand a set of fundamental financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and complexity of the issues that can reasonably be expected to be raised by the consolidated financial statements of the Corporation (including, without limitation, a balance sheet, income statement, and cash flow statement).

Examples of Financially Literate in a sentence

• In addition, every Member will be Financially Literate and at least one Member will be an Audit Committee Financial Expert.

• The Committee shall be appointed annually by the Board and shall be comprised of three (3) or more Directors, each of whom is Independent and Financially Literate and none of whom is a member of Management or an employee of the Corporation or of any affiliate of the Corporation.

• The Committee shall consist solely of Independent Directors, all of whom shall be Financially Literate and at least one of whom shall be a financial expert as defined in the applicable corporate governance rules imposed by regulatory bodies.

• The Board, following consideration of the recommendation of the Corporate Governance Committee, may fill a vacancy which occurs in the Audit Committee at any time.Members of the Audit Committee shall be selected based upon the following and in accordance with applicable laws, rules and regulations:(a) Financially Literate.

• Each member of the Committee will be Financially Literate (or be willing and able to acquire the necessary knowledge within a reasonable period of time) and the Committee will have at least one Audit Committee Financial Expert.

More Definitions of Financially Literate

Financially Literate means the ability to read and understand basic financial statements i.e. balance sheet, profit and loss account, and statement of cash flows. Explanation 2: A member will be considered to have accounting or related financial management expertise if he or she possesses experience in finance or accounting, or requisite professional certification in accounting, or any other comparable experience or background which results in the individual’s financial sophistication, including being or having been a chief executive officer, chief financial officer or other senior officer with financial oversight responsibilities.

Financially Literate means the ability to read and understand basic financial statements i.e. balance sheet, profit and loss account, and statement of cash flows.

Financially Literate means a person who has the ability to read and understand basic financial

Financially Literate means a person who has ability to read and understand basic financial statements i.e. balance sheet, profit and loss account, and statement of cash flows.

Financially Literate means that the Director is able to critically read and understand a balance sheet, an income statement, a cash flow statement and the notes attached thereto.

Financially Literate means the ability to read and understand a set of financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to

Financially Literate means that the Board member has the ability to read and understand a set of financial statements in accordance with Canadian Generally Accepted Accounting Principles. Having “accounting or related financial expertise” means the Board member has the ability to understand and fully analyze financial statements and the related notes which present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and complexity of issues that can reasonably be expected to be raised by SPS’s financial statements.