Accounting reports definition

Accounting reports means an audit, a review, a compilation, or a fiscal report.
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Accounting reports. Payments: Inspection. IMI and Genisys shall jointly be responsible for coordinating the collection of all revenues from the sale of the Product through the Infomercial and all other direct response sales. Genisys shall keep complete and accurate books of account regarding the manufacture, marketing and sale of The Product and the other sources of revenue which are the subject of this Agreement. Genisys shall allow IMI the right of inspection of such books during regular business hours and upon reasonable advance notice. During the term of this Agreement for each month in which there are sales of the Product or other revenue subject to this Agreement, within thirtv (30) days after the end of the month Genisys shall provide IMI with a report containing complete information regarding sales of the Product and as a required hereunder the calculation of Gross Receipts, the royalties due thereon, and including therewith a payment of any amounts due IDS for the prior month activities. Such books of account and supporting data shall be available for inspection by IMI during Genisys' regular business hours for a period of two (2) years following the end of the fiscal year to which they pertain. In the event the inspection of Genisys books and records reveals that any annual payment to IMI was understated by five percent (5%) or more, Genisys shall be responsible to pay for the reasonable costs of inspection, excluding travel costs related to the inspection. Additionally, any amount due IMI which is unpaid shall accrue interest at the rate of ten percent (10%) per annum until the total amount due, including interest, is paid in full. Any determination of underpayment shall not be a breach of this Agreement unless the full amount due remains unpaid for a period exceeding ten (I0) days after receipt of written payment demand,
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Accounting reports is defined in Section 10.5(e).
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Examples of Accounting reports in a sentence

  • Accounting reports will be generated based on data received prior to any suspension.

  • Accounting reports shall be submitted to the Reinsurer by the Company and by the Reinsurer to the Company, not later than 15 business days after the end of each calendar month.

  • Accounting reports prescribed by this chapter reflect these reporting concepts.

  • Accounting reports are often the basis on which the effectiveness of stewardship decisions and actions are evaluated.

  • Accounting reports, deposit slips, credit card receipts, copies of manual cash receipts, etc.

  • System should provide Operational, Administrative and Accounting reports The following Reports are indicative as per the current practices and not exhaustive.

  • Accounting reports for managers are prepared much more frequently than external reports.Accounting information also helps the managers in appraising the performance of subordinates.

  • Accounting reports shall be transmitted to the Commis- sion in electronic form, except in cases where the Commission has granted a written derogation, or the transitional arrangements specified in Article 39 apply.

  • Accounting- Concurrently with the delivery of daily deposit receipts, Contractor shall file with OCPW Accounting reports of gross receipts for each parking facility operated.

  • System should provide Operational, Administrative and Accounting reports.

Related to Accounting reports

  • Financial Statements has the meaning set forth in Section 3.06.

  • Financial Monitoring Report or “FMR” means each report prepared in accordance with Section 4.02 of this Agreement;

  • Financial Statement has the meaning set forth in Section 4(g) below.

  • Accounting Date means the thirtieth day of June in each year and any interim date on which the financial statements of the Trust are drawn up. Provided that the Management Company may, with the written consent of the Trustee and after obtaining approval from the Commission and the Commissioner of Income Tax may change such date to any other date and such change shall be intimated to the Commission.

  • Accounting Restatement means an accounting restatement due to the material noncompliance of the Company with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements (a “Big R” restatement), or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period (a “little r” restatement).

  • Audited Financial Statements means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the fiscal year ended December 31, 2017, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the Borrower and its Subsidiaries, including the notes thereto.