Common use of Acceptable Accounting System Clause in Contracts

Acceptable Accounting System. An acceptable accounting system is a system that is approved by the OASIS CO, in consultation with the Defense Contract Audit Agency (DCAA) and provides for the proper segregation, identification, accumulation, and allocation of direct and indirect costs for government procurements Acceptable Accounting Systems are mandatory. The Contractor must maintain an acceptable accounting system for the entire term of OASIS. The Contractor shall notify the OASIS CO and designated OCO for affected task orders, in writing, if there are any changes in the status of their accounting system and provide the reasons for the change and copies of audit reports, as applicable. Only those Contractors that maintain an acceptable accounting system, as approved by the OASIS CO, shall be eligible for task order solicitations.

Acceptable Accounting System. An acceptable accounting system is a system that is approved by the OASIS SB CO, in consultation with the Defense Contract Audit Agency (DCAA) ), and provides for the proper segregation, identification, accumulation, and allocation of direct and indirect costs for government procurements Acceptable Accounting Systems are mandatory. The Contractor must maintain an acceptable accounting system for the entire term of OASISOASIS SB. The Contractor shall notify the OASIS SB CO and designated OCO for affected task orders, in writing, if there are any changes in the status of their accounting system and provide the reasons for the change and copies of audit reports, as applicable. Only those Contractors that maintain an acceptable accounting system, as approved by the OASIS SB CO, shall be eligible for task order solicitations.