Good accounting practices definition
Good accounting practices means the accounting principles and practices established by the International Code of Accounting Principles and the International Accounting Standards adopted and published by the International Institute for Accounting and Auditing.
Good accounting practices as used in this Agreement shall mean such accounting practice as conforms at the time to United States generally accepted accounting principles, consistently applied. Generally accepted accounting principles mean those principles and practices which are generally accepted and recognized as such by the Financial Accounting Standards Board.