Guam § 5236 - Approval of Accounting System.
Full text of Guam Guam Code Annotated § 5236 — Approval of Accounting System., with citation guidance and answers to common questions.
§ 5236. 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, the Director of Public Works, the head of a
Purchasing Agency, or a designee of any such officer that:
(a) 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
(b) the proposed contractor’s accounting system is adequate to allocate costs in accordance with
generally accepted accounting principles.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 5236
What does Guam Code Annotated § 5236 cover?
Section 5236 ("Approval of Accounting System.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 5236?
A common citation format is "Guam Code Annotated § 5236" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 5236 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.