Accounting Separation definition

Accounting Separation means a separation of the accounting systems for the purpose of identifying the external transfer prices of activities, services and network components such as a switching facility and convergence systems necessary for the provision of all services.
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Accounting Separation shall have the meaning set forth in Section 1.15(a). “Accrued Income Taxes” means, without duplication, an amount equal to the aggregate amount of any accrued and unpaid income Taxes (including as a result of Section 965 of the Code and any applicable election to defer the payment of Taxes due under Section 965 of the Code) of the Spinco Group or the Merger Partner Group, as applicable, for any taxable period that ends on or before the Distribution Date; provided that for purposes of computing Accrued Income Taxes, Liability shall (a) be determined on a basis consistent with Past Practice in the jurisdictions where the Spinco Group or the Merger Partner Group files Tax Returns, as applicable, (b) exclude deferred Tax assets and deferred Tax liabilities, (c) take into account any overpayments of Taxes (and any applicable prepayments or estimated payments of income Taxes) for any taxable period, (d) be determined as of the end of the Distribution Date, (e) exclude any contingent Taxes or any accruals or reserves established or required to be established under GAAP with respect to contingent or uncertain Tax positions and (f) in the case of income Taxes imposed on a member of the Spinco Group or a member of the Merger Partner Group that are payable with respect to a taxable period beginning on or before and ending after the Distribution Date, be determined based on a closing of the books as of the end of the Distribution Date; provided that exemptions, allowances or deductions calculated on an annual basis shall be allocated between the portion of such taxable period ending on the Distribution Date and the portion of such taxable period ending after the Distribution Date in proportion to the number of days in each such period. “Action” means any claim, action, suit, litigation, arbitration or proceeding by or before any Governmental Authority. “Affiliate” shall have the meaning set forth in the Merger Agreement. “Agreement” shall have the meaning set forth in the Preamble. “Applicable Period” shall have the meaning set forth in Section 4.2. “Asset Transferors” means the Entities transferring Assets or Liabilities to Spinco or Remainco, as the case may be, or a member of their respective Group to consummate the Contemplated Transactions. “Asset” and “Assets” means all rights, title and ownership interests (including Intellectual Property) in and to all properties, claims, Contracts, businesses or assets (including goodwill), wherever located (including in the ...
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Accounting Separation means the provision of financial accounts at a much greater level of desegregation and detail than the usually published annual financial accounts.
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Examples of Accounting Separation in a sentence

  • This market is subject to Accounting Separation, Price Control and Cost Accounting obligations.

  • The purpose of Accounting Separation is to provide an analysis of information derived from financial records to reflect as closely as possible the performance of parts of a business as if they were operating as separate businesses.

  • Of the six inputs into the model, two are combined, namely the BT costs analysed into Cost Categories and the associated cost driver volumes as they are entered into the model.Where a cost has been apportioned across several increments by the CCA Accounting Separation (CostPerform) system, it is possible to use the relative proportions of these costs to reflect the relative volumes of the underlying cost drivers associated with those activities.

  • The definition of Mean Capital Employed (MCE) for Accounting Separation purposes is contained in section 3.2.4. The apportionment of Mean Capital Employed follows a similarly detailed and careful approach to that for operating costs.

  • The general methods for revenue and cost attribution in Accounting Separation are set out below.

  • The definition of Mean Capital Employed for Accounting Separation purposes is contained in section 3.3.4. The apportionment of Mean Capital Employed follows a similarly detailed and careful approach to that for operating costs.

  • All costs identified as being part of the Treated Water Distribution business unit by the Accounting Separation Methodology are allocated to this service.

  • This Accounting Separation Code was deemed by the Transitional Rules to be the The CAM outlines the basis we use to allocate costs between the different services we provide.

  • The aim of Accounting Separation is to assist in ensuring that charges are cost-based, transparent and non- discriminatory.

  • The operating cost of the Sewage Collection Business Unit is identified by the Accounting Separation Methodology.


More Definitions of Accounting Separation

Accounting Separation shall have the meaning set forth in Section 1.15(a)(ii)
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Accounting Separation or “Separated Accounts” shall mean the preparation of accounting information (including costs and revenues) related to regulated and non regulated activities of a Designated Service Provider, at a level of detail that allows CITC, or a third party appointed by CITC, to trace back and forth all internal and external transactions and ensure compliance with the Designated Service Provider’s relevant regulatory obligations. Accounting Separation uses Regulatory Accounts or cost models to provide the required information.
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Related to Accounting Separation

  • Accounting system means the Contractor's system or systems for accounting methods, procedures, and controls established to gather, record, classify, analyze, summarize, interpret, and present accurate and timely financial data for reporting in compliance with applicable laws, regulations, and management decisions, and may include subsystems for specific areas such as indirect and other direct costs, compensation, billing, labor, and general information technology.

  • Accounting Statement means for each financial year, the following statements, namely-

  • Annual Accounting Period or “Financial Year” means the period commence on 1st July and shall end on 30th June of the succeeding calendar year.

  • Accounting Date means, with respect to any Collection Period the last day of such Collection Period.

  • Counting room means a suitable and convenient private place or room,

  • Accounting Event means the receipt by the Issuer of an opinion of an Authorized Public Accountant in Finland (reputable and experienced in such matters) to the effect that, as a result of a change in the applicable accounting standards or interpretation thereof, the equity treatment of the Capital Notes as “equity” in full in the Issuer’s consolidated financial statements has or will cease.

  • Accounting Year means the financial year commencing from the first day of April of any calendar year and ending on the thirty-first day of March of the next calendar year;

  • Accounting Period means a period ending on and including an accounting date and commencing (in case of the first such period) on the date on which the Trust Property is first paid or transferred to the Trustee and (in any other case) from the next day of the preceding accounting period.

  • Parenting plan means a written plan describing each parent's rights and responsibilities.

  • Accounting Standard means GAAP.

  • Accrued Professional Compensation means, at any given moment, all accrued, contingent and/or unpaid fees and expenses (including, without limitation, success fees) for legal, financial advisory, accounting and other services and reimbursement of expenses that are awardable and allowable under section 328, 330(a) or 331 of the Bankruptcy Code and were rendered before the Effective Date by any Retained Professional in the Chapter 11 Cases, or that are awardable and allowable under section 503 of the Bankruptcy Code, that have not been denied by a Final Order, all to the extent that any such fees and expenses have not been previously paid (regardless of whether a fee application has been filed for any such amount). To the extent that the Bankruptcy Court or any higher court denies or reduces by a Final Order any amount of a Retained Professional’s fees or expenses, then those reduced or denied amounts shall no longer constitute Accrued Professional Compensation.

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • International Accounting Standards means the accounting standards approved by the International Accounting Standards Board from time to time.

  • Most Recent Fiscal Year End has the meaning set forth in Section 4(g) below.

  • Audited Company Balance Sheet means the consolidated balance sheet (and the notes thereto) of the Company and its consolidated Subsidiaries as of December 31, 2020, set forth in the Company’s Annual Report on Form 10-K filed by the Company with the SEC for the fiscal year ended December 31, 2020.

  • Fiscal Year End means December 31 of each calendar year.

  • Practice of public accounting means the performance or the offering to perform, by a person holding oneself out to the public as a certified public accountant or a licensed public accountant, one or more kinds of professional services involving the use of accounting, attest, or auditing skills, including the issuance of reports on financial statements, or of one or more kinds of management advisory, financial advisory, or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters. However, with respect to licensed public accountants, the “practice of public accounting” shall not include attest or auditing services or the rendering of an opinion attesting to the reliability of any representation embracing financial information.

  • Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;

  • Accounting Policies means the accounting policies and procedures set out in Part C of Schedule 4 (Accounting Policies);

  • Non-profit making companies means companies set up under the Companies Act, 1956/Companies Act 2013.

  • Participating public employer means a public employer as defined in ORS 238.005 that

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • Counting center means one or more locations selected by the election officer in

  • Generally Accepted Accounting Principles or “GAAP” means generally accepted accounting principles in the United States, consistently applied, which are in effect on the date of this Indenture.

  • Annual Business Plan means the development plan and budget report for Party B’s Business in the next calendar year which is prepared by Party B with the assistance of Party A pursuant to this Agreement before November 30 of each year.

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.