2011 Louisiana Laws
TITLE 39 — Public finance
RS 39:1614 — Approval of accounting system
§1614. Approval of accounting system
Except with respect to firm fixed-price contracts, no contract type shall be used unless it has been determined in writing by the chief procurement officer or his designee that:
(1) The proposed contractor's accounting system will permit timely development of all necessary cost data in the form required by the specific contract type contemplated; and
(2) The contractor's accounting system is adequate to allocate costs in accordance with generally accepted accounting principles.
Added by Acts 1979, No. 715, §1, eff. July 1, 1980.
Disclaimer: These codes may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.