Open Book Accounting definition

Open Book Accounting. Means arrangements whereby all of the Provider's financial records for the identity assurance Services can be seen by the Authority or the Contracting Authority.
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Open Book Accounting means the structured management and sharing of transparent, complete, accurate, current and accessible costing information– including data which would traditionally have been kept confidential – so as to facilitate the joint management of the Pooled Fund and facilitate better use of the resources in commissioning services and exercise of NHS Functions and/or Health Related Functions.
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Open Book Accounting means an arrangement in which the Purchaser grants Kāinga Ora access at reasonable times on reasonable notice to multiple layers of accounting information in a constant and consistent manner and in particular shares costs information in a complete, transparent, accurate, current and readily accessible manner.
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Examples of Open Book Accounting in a sentence

  • As part of the Open Book Accounting Principles, the Authority should have confidence that the Operator’s management information systems and financial systems are understood and are reliable for the intended purpose.

  • The Council requires clear transparency of financial and accounting arrangements and full unrestricted access to relevant information in the operation of this Contract and data from the Contractor via an Open Book Accounting arrangement.

  • Open Book Accounting - The GC/CM alternative contract delivery method allows for open book cost accounting and verification process.

  • However, there are three things to consider.Firstly, market conditions in Canada are not ideal; the industry experiences a range of market failures.

  • Utilising the Service Provider’s financial submission at tender stage, the contract will include an Open Book Accounting approach as a basis for assessing whether the Service Provider is generating any excess profit.

  • The GMCA took the approach to ensure the provider base was supported and through access to utilising their allocations for Covid Learner Support (up to 10% of their approved allocation, as set out in the AEB March 2021 report) and cover costs, confirmed through an Open Book Accounting process.

  • Open Book Accounting is the allowance of the government to have free and open access to financial and accounting documents that the Design/Builder has associated with the project being designed and constructed.

  • Open Book Accounting is one of the tools available to achieve this.

  • Premise Insert Premises XXXXX Open Book Accounting Is a particular type of supply-chain assurance where the Provider shares information about the costs and profits in the Care Services of this Agreement.

  • The Provider will be expected to work with Norfolk County Council using the principles of Open Book Accounting as part of the process to determine value for money and efficiency of the Service.


More Definitions of Open Book Accounting

Open Book Accounting or “Open Book”
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Open Book Accounting means the disclosure by the Contractor of all material data and infor- mation which relate to the performance of the Contractor’s's obligations under this Contract in- cluding staff costs, resources used, valuations, cost variations, profit margins, payment mecha- nisms, budget planning, defaults, claims, insurance, recovery of costs, administration and over- head costs, payments to sub-contractors and suppliers, transactions with intra-group and related parties, corporate overheads and the basis of such charges, capital expenditure, income from third parties and any other matter which is reasonably incidental to the performance of the Contractor's obligations under this Contract provided always that such information shall at all times be pre- pared and maintained in accordance with appropriate accounting practices (in accordance with Good Industry Practice)
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Related to Open Book Accounting

  • City Ledger Report means a list submitted by the Contractor indicating on a daily basis its total number of sleeping room nights rented as well as the total number for sleeping rooms removed from its available inventory or rentals, for purposes of repair.

  • Accounting Records means the general ledger and subsidiary ledgers and supporting schedules which support the general ledger balances.

  • audited when used in regard to financial statements shall mean an examination of the financial statements by a firm of independent certified public accountants in accordance with generally accepted auditing standards for the purpose of expressing an opinion thereon.

  • 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.

  • 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.

  • Open Book Data means complete and accurate financial and non-financial information which is sufficient to enable the Customer to verify the Call Off Contract Charges already paid or payable and Call Off Contract Charges forecast to be paid during the remainder of this Call Off Contract, including details and all assumptions relating to: the Supplier’s Costs broken down against each Good and/or Service and/or Deliverable, including actual capital expenditure (including capital replacement costs) and the unit cost and total actual costs of all hardware and software; operating expenditure relating to the provision of the Services including an analysis showing: the unit costs and quantity of goods and any other consumables and bought-in services; manpower resources broken down into the number and grade/role of all Supplier Personnel (free of any contingency) together with a list of agreed rates against each manpower grade; a list of Costs underpinning those rates for each manpower grade, being the agreed rate less the Supplier’s Profit Margin; and Overheads; all interest, expenses and any other third party financing costs incurred in relation to the provision of the Services; the Supplier Profit achieved over the Call Off Contract Period and on an annual basis; confirmation that all methods of Cost apportionment and Overhead allocation are consistent with and not more onerous than such methods applied generally by the Supplier; an explanation of the type and value of risk and contingencies associated with the provision of the Services, including the amount of money attributed to each risk and/or contingency; and the actual Costs profile for each Service Period.

  • 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.

  • Books and Records means all books, records, board minutes, contracts, licenses, insurance policies, environmental audits, business plans, files, computer files, computer discs and other data and software storage and media devices, accounting books and records, financial statements (actual and pro forma), filings with Governmental Authorities and any and all records and instruments relating to the Collateral or otherwise necessary or helpful in the collection thereof or the realization thereupon.

  • Balance Sheets has the meaning set forth in Section 4.5(a).

  • Accounting Reference Date means 31 December.

  • consolidated basis means on the basis of the consolidated situation;

  • Consolidated Financial Statements means, with respect to any Person, collectively, the consolidated financial statements and notes to those financial statements, of that Person and its Consolidated Subsidiaries prepared in accordance with GAAP.

  • Financial Statement Date has the meaning set forth in Section 4.05 hereof.

  • Financial Records means any document or summary of information contained in a document, including electronic documents, that contains information about the financial activities or position of a person including, but not limited to, information about the assets, balance sheets, budgets, cash flow, earnings, revenue, expenditures, income, investments, losses, liabilities, payroll, profits, retained earnings, or taxes.

  • Historical Financial Statements means as of the Closing Date, (a) the audited consolidated balance sheets and related statements of income and cash flows of the Borrower for the Fiscal Years ended December 31, 2019 and December 31, 2020 and (b) the unaudited consolidated balance sheets and related statements of income and cash flows of Holdings for each fiscal quarter (other than the fourth fiscal quarter) ended after the most recent fiscal year of Holdings and at least forty-five (45) days prior to the Closing Date.

  • Quarterly Financial Statements is defined in Section 6.2(a).

  • Management Accounts Date means 30 September 2017;

  • Reconciliation Date means the last calendar day of each Reconciliation Period.

  • Management Accounts means unaudited accounts which shall incorporate a profit and loss statement, cash flow statement and balance sheet.

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

  • Transferred Books and Records means all books, ledgers, files, reports, plans, records, manuals and other materials (in any form or medium) to the extent of, or maintained predominantly for, the Business by the Seller’s Group (other than emails), including (without limitation) all books, records and other materials relating to the research, development and pre-clinical trials for each of the Products and the Product Expansions but excluding:

  • Monthly Financial Statements is defined in Section 6.2(c).

  • Monthly Reporting Date means the 25th day of each month after the date of this Agreement (or if any such day is not a Business Day, the next succeeding Business Day thereafter).

  • Financial Statements Date shall have the meaning ascribed to it in Section 3.7.

  • Reporting Accountants means the auditors of National Grid (but not acting in their capacity as auditors) or such other firm of accountants as may be nominated by National Grid and approved in writing by the Trustee for the purpose or, failing which, as may be selected by the Trustee for the purpose; and

  • Accounting Restatement Date means the earlier to occur of (a) the date that the Board, a committee of the Board authorized to take such action, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare an Accounting Restatement, or (b) the date that a court, regulator or other legally authorized body directs the Company to prepare an Accounting Restatement.