Cross acceleration and Generally accepted accounting principles: Difference between pages

Revision as of 22:12, 23 March 2016

(GAAP).

The common set of accounting principles, standards and procedures.

They are a combination of:

Law
Published authoritative standards (set by policy boards such as the FASB in the US and the FRC in the UK) and
The accepted ways of doing accounting.

Sometimes also known as Generally Accepted Accounting Practice.

@@ Line 1: / Line 1: @@
-''Loan documentation.''
+(GAAP).
-A clause in a loan agreement.
+The common set of accounting principles, standards and procedures.
-It states that the acceleration of a loan with any other lender, following an event of default under another loan agreement, is also an event of default under this agreement.
+They are a combination of:
+* Law
+* Published authoritative standards (set by policy boards such as the FASB in the US and the FRC in the UK) and
+* The accepted ways of doing accounting.
-It is designed for the benefit of the lender, to ensure that the lender will enjoy a 'seat at the table' in any refinancing negotiations with the defaulting borrower.
+Sometimes also known as Generally Accepted Accounting Practice.
 == See also ==
-* [[Acceleration]]
+* [[Accounting Council]]
-* [[Default]]
+* [[Accounting standards]]
-* [[Event of default]]
+* [[Covenant]]
-* [[Cross default]]
+* [[FASB]]
-* [[Financial covenant]]
+* [[Financial statements]]
-* [[Grace period]]
+* [[International Accounting Standards Board]]
-* [[Loan agreement]]
+* [[International GAAP]]
-* [[Materiality]]
+* [[Pension cost]]
-* [[Waiver]]
+* [[Pensions Research Accountants Group]]
+* [[US GAAP]]
+* [[FRC]]
-[[Category:Long_term_funding]]
+[[Category:Accounting,_tax_and_regulation]]
-[[Category:Treasury_operations_infrastructure]]