Fiscal Year; Fiscal Quarters; Accounting Periods; Accounting Methods. (a) The Fiscal Year shall be the calendar year and the Accounting Period shall be the same as the Fiscal Year. (b) The Managing Member shall cause the Company to keep its financial books under the cash method of accounting, and, as to matters not specifically covered in this Agreement, in accordance with generally accepted accounting principles applied on a consistent basis. The Managing Member reserves the rights to change the method of accounting in its sole discretion.
Appears in 5 contracts
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Income Strategies, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC)
