Accounting System Requirement Sample Clauses

The Accounting System Requirement clause mandates that a party, typically a contractor or service provider, must maintain an accounting system that meets specified standards or criteria. This often involves keeping accurate, complete, and auditable financial records related to the contract, and may require the system to be subject to review or approval by the other party or a regulatory body. The core function of this clause is to ensure transparency and accountability in financial reporting, thereby reducing the risk of errors, fraud, or disputes over costs.
Accounting System Requirement. The Contractor shall maintain an adequate system of accounting and internal controls that meets Generally Accepted Accounting Principles or “GAAP.”
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Accounting System Requirement. Contractor shall maintain an adequate system of accounting and internal controls that meets GAAP.
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Accounting System Requirement. Service Provider shall maintain an adequate system of accounting and internal controls that meets Generally Accepted Accounting Principles or GAAP.
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Accounting System Requirement. Vendor shall maintain an adequate system of accounting and internal controls that meets Generally Accepted Accounting Principles or GAAP.
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Related to Accounting System Requirement

  • Accounting System Maintain a system of accounting that enables Borrower to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Borrower also shall keep an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to the Inventory.

  • Switching System Hierarchy and Trunking Requirements For purposes of routing ECI traffic to Verizon, the subtending arrangements between Verizon Tandem Switches and Verizon End Office Switches shall be the same as the Tandem/End Office subtending arrangements Verizon maintains for the routing of its own or other carriers’ traffic (i.e., traffic will be routed to the appropriate Verizon Tandem subtended by the terminating End Office serving the Verizon Customer). For purposes of routing Verizon traffic to ECI, the subtending arrangements between ECI Tandem Switches and ECI End Office Switches shall be the same as the Tandem/End Office subtending arrangements that ECI maintains for the routing of its own or other carriers’ traffic.

  • System Requirements Apple Software is supported only on Apple-branded hardware that meets specified system requirements as indicated by Apple.