Accounting Decisions Sample Clauses
The "Accounting Decisions" clause defines how accounting methods and judgments will be determined and applied within the context of the agreement. Typically, this clause specifies which party has authority over accounting choices, such as selecting accounting standards (e.g., GAAP or IFRS), determining how revenues and expenses are recognized, or resolving disputes about financial reporting. By clearly assigning responsibility and outlining the applicable standards, this clause helps prevent misunderstandings and disputes related to financial statements, ensuring consistency and transparency in the financial aspects of the contract.
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Accounting Decisions. All decisions as to accounting matters, except as otherwise specifically set forth in this Agreement, shall be made by the Member. The Member may rely upon the advice of its accountants as to whether such decisions are in accordance with accounting methods followed for federal income tax purposes.
Accounting Decisions. All decisions as to the accounting treatment of any items of Company business, when made by the Board of Directors in accordance with U.S. generally accepted accounting principles, shall have conclusive effect upon the Company and the Member.
Accounting Decisions. All decisions as to accounting principles, except as specifically provided to the contrary herein, shall be made by the General Partner.
Accounting Decisions. All decisions as to accounting matters, except as specifically provided to the contrary herein, shall be made by the General Partners in accordance with the accounting methods adopted by the Partnership for federal income tax purposes and otherwise in accordance with generally accepted accounting principles and procedures applied in a consistent manner. Such decisions must be acceptable to the Accountants, and the General Partners may rely upon the advice of such Accountants as to whether such decisions are in accordance with generally accepted accounting principles.
Accounting Decisions. All decisions as to accounting matters, except as specifically provided to the contrary herein, shall be made by the Majority Interest in accordance with generally accepted accounting principles consistently applied. Such decisions shall be acceptable to the accountants retained by the Company, and the Majority Interest may rely upon the advice of the accountants as to whether such decisions are in accordance with generally accepted accounting principles.
Accounting Decisions. All decisions as to accounting matters, except as specifically provided to the contrary herein, shall be made by the Board of Managers.
Accounting Decisions. All decisions as to accounting matters, except as specifically provided to the contrary herein, shall be made by the Managing Member.
Accounting Decisions. All decisions as to accounting principles shall be made by the Chief Manager.
Accounting Decisions. The Manager will make all decisions as to accounting matters and may cause the Company to make whatever elections the Company may make under the Code.
Accounting Decisions. All decisions as to accounting matters shall be made by the Board.