Financial Accounting System Sample Clauses

Financial Accounting System. (a) The Company shall establish an independent financial and account system and shall prepare financial statements in accordance with the applicable Enterprise Accounting System of the PRC, other relevant Law, the particular circumstances of the Company and the operating and financial procedures and requirements of the Parties. (b) The Company’s financial management rules shall be formulated and adopted by the Board based on the recommendations of the General Manager.

Financial Accounting System. 20.3.1 The Target Company shall establish its financial and accounting systems in accordance with the PRC accounting standards and other relevant PRC Laws, which shall be submitted to the Board of Directors for approval. 20.3.2 The Target Company shall adopt the accrual basis and debit and credit method for bookkeeping and shall prepare complete and accurate monthly, quarterly and annual financial statements in accordance with the PRC accounting standards. 20.3.3 The Target Company shall adopt calendar year as its fiscal year, commencing on January 1 and ending on December 31 of each year. 20.3.4 Renminbi shall be adopted as the currency of accounts of the Target Company. The Target Company shall also record accounts in currencies actually used in payments and receipts where such payments and receipts in cash, bank deposits, other funds, credits and debts, and gains and expenses are not in Renminbi. 20.3.5 All accounting vouchers, books and statements prepared by the Target Company shall be written in Chinese.

Financial Accounting System. The Acquired Companies shall have --------------------------- placed a purchase order with respect to an updated Chameleon financial and accounting software system that shall allow the Acquired Companies to operate with respect to such matters on a stand-alone basis without any need for data or software from any other Person, including, without limitation, any information contained on the Movex system.

Financial Accounting System. The Company and its Subsidiaries will --------------------------- maintain a system of accounting in which correct and complete entries will be made of all dealings and transactions in relation to their business and affairs in accordance with GAAP. The Company's internal financial control systems will at all times be reasonably satisfactory to Parthenon.

Financial Accounting System. 46 6.6 PRE-CLOSING DIVIDEND........................................... 46 6.7

Financial Accounting System. The Target Company shall establish a financial accounting system in accordance with the relevant laws and regulations of BVI, combined with the specific circumstances of the Target Company, and within the scope permitted by applicable laws, using methods and standards consistent with internationally accepted accounting standards. The financial accounting system shall be implemented after the approval of the Target Company’s board of directors.

Financial Accounting System. Maintain a system of accounting in --------------------------- which correct and complete entries will be made of all dealings and transactions in relation to their business and affairs in accordance with generally accepted accounting principles.

Financial Accounting System. The Collaborative shall adopt and maintain a financial accounting system, in accordance with generally accepted accounting principles as prescribed by the governmental accounting standards board and any supplemental requirements prescribed jointly by the commissioner of elementary and secondary education and the commissioner of revenue, in consultation with the state auditor. At a minimum, the financial accounting system shall delineate: administration and overhead; rental of real property; program costs; capital expenditures, including fixed assets, real property or the improvement of real property; debt payments; deposits into a capital reserve; and all additional disclosures required in 50.08(2).

Financial Accounting System. 14.2.1 The Company shall establish its financial and accounting system in accordance with the accounting principles of PRC. 14.2.2 The Company shall, in accordance with applicable PRC laws and regulations, engage and retain reputable accounting firms in China to audit the financial status of the Company and to issue annual financial statements and audit reports in conformity with the PRC accounting principles. 14.2.3 The Company shall use RMB as the base currency in its bookkeeping. Cash, bank deposits, foreign currency loans and credits, debts, receipts and expenditures, if made in currencies other than RMB, shall be recorded in currencies actually used in receipts or payments. The conversion of other currencies to RMB shall be based on the median price published by the People’s Bank of China as at the date of the transaction or such other rate permitted by laws and approved by board resolutions. Gains and losses arising from exchange differences shall be recorded and entered in accordance with the accounting standards for foreign exchange transactions published by the Ministry of Finance and other competent authorities of PRC.

Financial Accounting System. (a) The Joint Venture shall establish an independent financial and accounting system and shall prepare financial statements in accordance with the Law and the particular circumstances of the Joint Venture, and, to the extent permitted by applicable Law of the PRC, those methods and principles that are consistent with the Generally Accepted Accounting Principles in the United States of America (the “US GAAP”) and the operating and financial procedures and requirements of the Parties. (b) The Joint Venture’s financial management rules shall be formulated and adopted by the Board based on the recommendations of the General Manager and CFO, whereas all such rules shall be consistent with this Article 10.