2011 Louisiana Laws
Revised Statutes
TITLE 39 — Public finance
RS 39:1614 — Approval of accounting system


LA Rev Stat § 39:1614 What's This?

§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.

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