Bases of preparation. The Completion Statements shall be prepared:
2.1 as at the Effective Time; and
2.2 in accordance with the following:
(a) the specific accounting policies, principles, estimation techniques, measurement bases, practices, procedures and rules set out in part 4;
(b) to the extent not covered by paragraph 2.2(a) the accounting policies, principles, estimation techniques, measurement bases, practices and procedures used by the Group Companies in the preparation of the Latest Financial Information on a consistent basis, to the extent not inconsistent with accounting standards detailed in paragraph 2.2(c); and
(c) to the extent not covered by paragraphs 2.2 (a) or 2.2 (b), US GAAP at the Accounts Date and applying to the relevant Group Company.
Bases of preparation. The Closing Accounts shall be prepared in accordance with the following:
2.1 the specific accounting policies, principles, estimation techniques, measurement bases, practices, procedures and rules set out in Part V of this Schedule; and
2.2 to the extent not covered by paragraph 2.1, the accounting policies, principles, estimation techniques, measurement bases, practices and procedures used by the Target Group in the preparation of the Audited Financial Statements on a consistent basis; and
2.3 to the extent not covered by paragraphs 2.1 and 2.2, with UK GAAP as applicable at the Closing Date.
Bases of preparation. Normalised EBITDA Statement
Bases of preparation. The Completion Statements shall be prepared in accordance with the following:
2.1 the specific accounting policies, principles, categorisations, estimation techniques, measurement bases, practices, procedures and rules set out in part 3;
2.2 if, but only to the extent, not covered by paragraph 2.1, applying the same accounting policies, principles, estimation techniques, measurement bases, practices and procedures and categorisations used by the Target Group Entities in the preparation of the Pro-forma Net Assets as there applied, including in relation to the exercise of accounting discretion and judgement; and
2.3 if, but only to the extent, not covered by paragraphs 2.1 or 2.2, in accordance with IFRS.
3. Stock take
3.1 a physical stock take to verify the amount of the stock and work in progress of the Target Group Entities as at close of business on the Completion Date is carried out jointly by representatives of the Seller and the Purchaser in accordance with the procedures set out in part 4;
3.2 such stock take shall:
(a) be concluded as soon as reasonably practicable and in any event not later than three Business Days after the Completion Date; and
(b) prioritise locations by volume of stock (in descending order); and
3.3 an inventory of such stock‑take ("Inventory") is produced and initialled by a representative of both the Seller and the Purchaser to confirm their agreement to it and to reconcile any variances in the volume of stock within five Business Days of Completion. If no such agreement is reached within five Business Days of Completion, either the Seller or the Purchaser may refer the items of stock and work in progress in dispute for determination by an Expert in accordance with part 2.
Bases of preparation. The Completion Statements shall be prepared:
2.1 in accordance with the specific accounting treatments set out in Part 4 of this schedule; and subject thereto;
2.2 adopting the same accounting policies, principles, estimation techniques, measurement bases, practices and procedures used by the Company in the preparation of the Principal Accounts as there applied except for Alco Canada and Alco Singapore which shall adopt the same accounting policies, principles, estimation techniques, measurement bases, practices and procedures used in the preparation of the Canada Accounts and Singapore Accounts respectively, as there applied; and subject thereto;
2.3 in accordance with the Accounting Standards in force and mandatory in the United Kingdom at the Accounts Date.
Bases of preparation. The draft Exchange Net Debt Statement shall be prepared and all assets and liabilities valued and determined in accordance with:
(a) law and Relevant Accounting Standards as at the Completion Date; and
(b) the accounting principles, policies, practices, evaluation rules, procedures, methods and bases adopted in the preparation of the Accounts to the extent not inconsistent with Paragraph 2.1(a).
Bases of preparation. The Completion Statements shall be prepared in accordance with the following:
2.1 the specific accounting policies, principles, estimation techniques, measurement bases, practices, procedures and rules set out in part 4.
2.2 to the extent not covered by paragraph 2.1 and only to the extent consistent with Accounting Standards, the accounting policies, principles, estimation techniques, measurement bases, practices and procedures used by the Group Companies in the preparation of the Accounts on a consistent basis (including, only to the extent consistent with Accounting Standards, in relation to the exercise of accounting discretion and judgement);
2.3 to the extent not covered by paragraphs 2.1 or 2.2 or where there is a conflict or inconsistency between the accounting policies, principles, estimation techniques, measurement bases, practices and procedures specified in paragraph 2.2 and Accounting Standards, Accounting Standards.
