Accounting Conventions definition

Accounting Conventions means GAAP, as applied using the accounting rules and principles set forth in Exhibit A.

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Accounting Conventions means the agreements, assumptions and conventions used in connection with preparing the Financial Statements and to be used in connection with preparing the Closing Balance Sheet, as set forth on Schedule 2.3.

Examples of Accounting Conventions in a sentence

The parties agree that the Closing Balance Sheet shall be prepared in accordance with GAAP (as modified by the Accounting Conventions) and giving effect to the Accounting Conventions.
The reserve set forth on the Closing Balance Sheet for Accounts Receivable will be calculated in accordance with GAAP and the Accounting Conventions on a basis consistent with the Audited Balance Sheet at the time the Closing Balance Sheet is prepared.
The Parties agree that (x) the unaudited balance sheet included within each Closing Statement shall be prepared in accordance with the Accounting Conventions, and (y) the Cash Amount and the Net Working Capital shall consist only of the applicable financial statement line items set forth on Exhibit E.
Purchaser's claim notice shall specify, in reasonable detail, (i) the aggregate amount of Losses incurred in respect of Reserved Matters and (ii) the reason that Purchaser asserts that the total Reserves were not established as of the Closing Date on a basis consistent with the Balance Sheet and in accordance with the Accounting Conventions.
The Estimated Statement shall be based on the books and records of the Company and its Subsidiaries, and shall be prepared in good faith and in accordance with the Accounting Conventions.
Except as disclosed in Schedule 2.3 hereto, the Financial Statements were prepared in accordance with GAAP applied on a consistent basis throughout the period involved (except as may be indicated in the Accounting Conventions) and in accordance with the Accounting Conventions and fairly present the financial position of the Business as at such date and the results of the operation of the Business for the period then ended.
The Closing Statement shall be based on the books and records of the Company and its Subsidiaries and shall be prepared in good faith and in accordance with the Accounting Conventions.
The audited consolidated balance sheet of KAO and its Subsidiaries for the fiscal year ended December 29, 2012 was prepared on a basis consistent with the Accounting Conventions.
Except as disclosed in Schedule 2.3 hereto, the ------------ Financial Statements were prepared in accordance with GAAP applied on a consistent basis throughout the period involved (except as may be indicated in the Accounting Conventions) and in accordance with the Accounting Conventions and fairly present the financial position of the Business as at such date and the results of the operation of the Business for the period then ended.
This Agreement (including the Confidentiality Agreement and the schedules incorporated by reference herein) and the Accounting Conventions do not contain and will not contain any untrue statement of a material fact and do not omit and will not omit to state a material fact necessary to make the statements contained herein or therein, in light of the circumstances in which they are made, not misleading.

More Definitions of Accounting Conventions

Accounting Conventions has the meaning set forth in Section 6.17.

Accounting Conventions shall have the meaning ascribed to such term in Section 2.04.

Accounting Conventions means the accounting assumptions and ---------------------- methodologies of the Companies set forth on Exhibit A attached hereto. ---------

Accounting Conventions means the same accounting conventions, methods, principles, policies, practices, and procedures, with consistent classification, judgments, and estimation methodology, as were used by the Company in preparing, and in the form of, the Recent Balance Sheet. Notwithstanding the foregoing, for purposes of the Closing Statement, the amounts for the following line items shall be as follows: (a) Account 15180 - Accrued Burden: $461,000; (b) Account 15840 – Accrued Insurance: $741,089; (c) Account 15800 – Accrued 401(k) Match: $0; and (d) Account 15900 – Accrued Expenses Other: $105,000.

Accounting Conventions means the illustrative calculation and the accounting principles, procedures, practices, policies and calculations set forth on Section 11.1(a) of the Disclosure Letter.