Common use of ACCOUNTING SYSTEMS AND PROPERTY MANAGEMENT SYSTEMS Clause in Contracts

ACCOUNTING SYSTEMS AND PROPERTY MANAGEMENT SYSTEMS. 15.1. PERFORMING PARTY shall have an accounting system which accounts for costs in accordance with generally accepted accounting standards or principles and complies with UGMS and 40 CFR 31.20. This system shall provide for the identification, accumulation, and segregation of allowable and unallowable project costs among projects.

ACCOUNTING SYSTEMS AND PROPERTY MANAGEMENT SYSTEMS. 15.11. PERFORMING PARTY Performing Party shall have an accounting system which accounts for costs in accordance with generally accepted accounting standards or principles and complies with UGMS and 40 CFR § 31.20. This system shall provide for the identification, accumulation, and segregation of allowable and unallowable project costs among projects.