Cash Method of Accounting definition

Cash Method of Accounting means a method of accounting where revenues are recognized only when cash is received, and expenditures for expense and asset items are not recorded until cash is disbursed for them.
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Cash Method of Accounting means a method of accounting in which revenues are recorded when cash is received, and expenditures for expense and asset items are not recorded until cash is disbursed for those expenditures and assets.
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Cash Method of Accounting means a method of accounting in which (i) the Gross Proceeds for a month shall be the net amount recognized and recorded during such month in El Paso's ledgers for sales of Oil and Gas produced from the relevant wells and (ii) the Production Costs for a month shall be the net amoxxx xaid or charged to the relevant wells by El Paso and recorded during such month in El Paso's ledgers. Xxxordingly, by way of example only, sales of January production of Oil and Gas will normally be used to determine Gross Proceeds for the month of March.
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Examples of Cash Method of Accounting in a sentence

  • The prescribed method of accounting shall be the Cash Method of Accounting.

  • The Net Profits Account shall be credited with the aggregate Xxxxx Proceeds received by El Paso, and shall be charged with the aggregate Production Costs (or as the case may be, Excess Production Costs) with respect to the Subject Wells, in each case using the Cash Method of Accounting.

  • Amounts borrowed pursuant to this Section 2.3(a) may be repaid and reborrowed at any time without penalty or premium prior to the Maturity Date, at which time all Advances under this Section 2.3(b) shall be immediately due and payable; provided that, in the event of a mandatory or permitted prepayment of the Term Loan in accordance with Section 2.2(c) or (d) above, Borrower shall, at the same time as such prepayment, satisfy in full the Obligations owing with respect to the Revolving Line.

  • IRS 2001 Publication No. 538, Cash Method of Accounting for Qualifying Taxpayers, can be found on the web at World Wide Web Tax by scrolling down the page to IRS Form 538.

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  • Process studies also require monitoring of the vertical distribution of ozone, e.g. by vertical soundings.

  • Chairman’s Mark: Cash Method of Accounting Under the Chairman’s Mark, the $5 million threshold for corporations and partnerships with a corporate partner would be increased to $25 million and the requirement that such businesses satisfy the requirement for all prior years would be repealed.

  • The case manager authorizes and implements the service plan and monitors the services delivered.(1413) "Cash Method of Accounting" means a method of accounting where revenues are recognized only when cash is received, and expenditures for expense and asset items are not recorded until cash is disbursed for them.

  • Cash Method of Accounting PRE-ACT LAW: A corporation, or a partnership with a corporate partner, may generally only use the cash method of accounting if, for all earlier tax years beginning after 12/31/85, the corporation or partnership met a gross receipts test (i.e., the average annual gross receipts the entity for the three-tax-year period ending with the earlier tax year does not exceed $5 million).

  • Cash Method of Accounting means that revenues are recognized only when cash is received and expenditures for expense and asset items are not recorded until cash is disbursed for them.


More Definitions of Cash Method of Accounting

Cash Method of Accounting means a method of accounting in which (i) the Gross Proceeds for a Month shall be the net amount recognized and recorded by COC during such Month in COC’s ledgers for sales of Hydrocarbon Production from the Subject Properties included in a Tranche and (ii) the Production Costs for a Month shall be the amount paid or charged to the Subject Properties included in a Tranche by COC and recorded during such Month in the COC’s ledgers for operating the Subject Properties, all such proceeds and costs being determined in accordance with Exhibit B attached hereto. Accordingly, by way of example only, sales of January production of Hydrocarbon Production will normally be used to determine Gross Proceeds for the Month of March if the proceeds of such sales are received in March. No Gross Proceeds nor Production Costs for a Subject Property shall be recognized for Production Month Proceeds accrued prior to the Effective Date for such Subject Property. “Contract Area” means the geographic area encompassing portions in Brazos Blocks 440/478/479, Brazos (Matagorda) County, Texas, as further described in Exhibit A attached hereto, as may be amended from time to time by mutual agreement of COC and Domain.
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Cash Method of Accounting means a method of accounting in which revenues are recorded when cash is
Sample 1
Cash Method of Accounting means a method of accounting which recognizes revenues only when cash is received, and expenditures only when cash is disbursed.
Sample 1
Cash Method of Accounting means, for purposes of this chapter, that the timing of reporting sales, and remitting sales tax due thereon, may correspond to the seller's receipt of cash as consideration.
Sample 1

Related to Cash Method of Accounting

  • Automated Message Accounting (AMA) means the structure that is inherent in switch technology that initially records Telecommunication message information. AMA format is contained in the Automated Message Accounting document published by iconectiv (formerly known as Telcordia) as GR-1100-CORE, which defines and amends the industry standard for message recording.

  • Automated Message Accounting (AMA) is a structure inherent in switch technology that initially records Telecommunication message information. AMA format is contained in the Automated Message Accounting document published by Telcordia (formerly known as Bellcore) as GR-1100-CORE, which defines and amends the industry standard for message recording.

  • Request for an accounting means a record authenticated by a debtor requesting that the recipient provide an accounting of the unpaid obligations secured by collateral and reasonably identifying the transaction or relationship that is the subject of the request.

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

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • 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;

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Central Automatic Message Accounting (CAMA) Trunk means a trunk that uses Multi-Frequency (MF) signaling to transmit calls from CLEC’s switch to an AT&T-21STATE E911 Selective Router.

  • Matching Contribution means an employer contribution made to this or any other defined contribution plan on behalf of a participant on account of an Employee Contribution made by such participant, or on account of a participant's Elective Deferral, under a plan maintained by the employer.