[§103D-314]  Approval of accounting system. 
Except with respect to firm fixed-price contracts, no contract shall be used
unless it has been determined in writing by the chief procurement officer, the
head of a purchasing agency, or a designee of either officer 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 proposed contractor's accounting system is
adequate to allocate costs in accordance with generally accepted accounting
principles. [L Sp 1993, c 8, pt of §2]