GAAP definition

GAAP shall have the meaning ascribed to such term in Section 3.1(h).

Examples of GAAP in a sentence

  • GAAP are established by the Financial Accounting Standards Board (“FASB”).

  • The cost of Equipment 24 purchased, in whole or in part, with funds paid pursuant to this Agreement shall be depreciated according 25 to GAAP.

  • All applicable books and records will be maintained in accordance with generally accepted accounting principles (GAAP) and shall, upon request and at the City’s request, be made available at a location designated by the City.

  • Accurate and complete books of account of the transactions of the Venture will be kept in accordance with generally accepted accounting principles (GAAP) and at all reasonable times will be available and open to inspection and examination by any Member.

  • Amendment 6 Redline 1 requirements, GAAP and the Special Provisions Paragraph of this Agreement.


More Definitions of GAAP

GAAP means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied.
GAAP means accounting principles generally accepted in the United States of America set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect as of the date of determination.