Brazilian GAAP definition

Brazilian GAAP means, collectively, the accounting principles prescribed by Brazilian Corporate Law, the rules and regulations issued by applicable regulators, including the CVM, as well as the technical releases issued by the Brazilian Institute of Accountants (Instituto Brasileiro de Contadores), in each case as in effect from time to time.

Brazilian GAAP means generally accepted accounting principles in Brazil.

Brazilian GAAP means, as elected from time to time by the Issuer, (i) the accounting principles prescribed by Brazilian Corporate Law, the rules and regulations issued by applicable regulators, including the CVM, as well as the technical releases issued by the Brazilian Institute of Accountants (Instituto Brasileiro de Contadores), or (ii) International Financial Reporting Standards as issued by the International Accounting Standards Board, in each case, as in effect from time to time.

Examples of Brazilian GAAP in a sentence

• Both common and preferred stockholders are entitled to receive a mandatory minimum dividend of 25% of annual adjusted net income under Brazilian GAAP, once declared at the annual stockholders’ meeting.

• In the case of preferred stockholders, this dividend cannot be less than 6% of the preferred capital as stated in the statutory accounting records or, if greater, 3% of the Brazilian GAAP equity value per share.

• Linx did not have, in the periods covered by Linx's Financial Statements, any liabilities or obligations of any nature, involving material amounts, in addition to the liabilities or obligations that were disclosed, reflected or referred to in Linx's Financial Statements in accordance with Brazilian GAAP or in its Reference Form.

• Except as stated otherwise in the PT Group Financial Statements or in Section 5.8 of the PT Group Disclosure Schedule, such PT Group Financial Statements (a) fairly present, in all material respects, the financial position of the PT Covered Assets as of the respective dates thereof, all in accordance with Brazilian GAAP consistently applied throughout the period indicated; and (b) are correct and complete in all material respects and are consistent with the books and records of the PT Covered Assets.

• Except as stated otherwise in the TEF Group Financial Statements or in Section 4.8 of the TEF Group Disclosure Schedule, such TEF Group Financial Statements (a) fairly present, in all material respects, the financial position of the TEF Covered Assets as of the respective dates thereof, all in accordance with Brazilian GAAP consistently applied throughout the period indicated; and (b) are correct and complete in all material respects and are consistent with the books and records of the TEF Covered Assets.

More Definitions of Brazilian GAAP

Brazilian GAAP means the accounting practices adopted in Brazil;

Brazilian GAAP means generally accepted accounting practices adopted in Brazil, which include the pronouncements issued by the Brazilian Accounting Standards Committee (Comitê de Pronunciamentos Contábeis).

Brazilian GAAP means, as defined by Debtor from time to time (1) generally accepted accounting principles adopted in Brazil, determined in accordance with the corporation law, the laws issued by the relevant authorities, including CVM and the technical analyses issued by the Brazilian Accountancy Institute; or (ii) International Financial Reporting Standards, as adopted by the International Accounting Standards Board, as the case may be, as they are in effect from time to time and consistently applied.

Brazilian GAAP means the accounting principles prescribed by Brazilian corporate law (Lei de Sociedades Anônimas).

Brazilian GAAP means the Brazilian generally accepted accounting principles.

Brazilian GAAP means generally accepted accounting principles as used in Brazil, from time to time, applied on a consistent basis from period to period.

Brazilian GAAP means accounting practices adopted in Brazil applicable to entities authorized to operate by the Brazilian Central Bank as established by Brazilian corporate law and standards established by the National Monetary Council (Conselho Monetário Nacional), the Brazilian Central Bank and the document template provided in the Accounting National Financial System Institutions (Plano Contábil das Instituições do Sistema Financeiro Nacional ) and the Securities Commission of Brazil (Comissão de Valores Mobiliários) to the extent such practices do not conflict with the rules of the Brazilian Central Bank, the Accounting Pronouncements Committee (Comitê de Pronunciamentos Contábeis) to the extent approved by the Brazilian Central Bank, the National Council of Private Insurance (Conselho Nacional de Seguros Privados) and the Superintendency of Private Insurance (Superintendência de Seguros Privados).