Questions

• Maintain accounting books and budget registries which are reconciled with the cash records of the BTr and the budget records of the COA and DBM.

  Government Agencies
• Cash custody and control of disbursements

  Bureau of Treasury (BTr
• Formulation & Implementation of the national budget

  Department of Budget and Management (DBM
• Departments, bureaus, offices, and other instrumentalities of the NGA, including the congress, the judiciary, the constitution jodies, state college, and universities, and other self-contained institutions and hospital arerequired by law

  National Government Agencies
• Departments, bureaus, offices, and other instrumentalities of the NGA, including the congress, the judiciary, the constitution jodies, state college, and universities, and other self-contained institutions and hospital arerequired by law

  National Government Agencies
• Promulgate accounting and auditing rules, keep the general accounts and submit financial reports to Congress/President

  Commission on Audit (COA)
• Process of preparation, presentation and submission of general purpose financial statements and other reports The objective is to provide inform . ation about the entity that is useful to users for accountability purposes and decision-making

  Financial Reporting
• Refers to an accounting entity for recording expenditures and revenues

  Fund cluster accounting
• Refers to an accounting entity for recording expenditures and revenues

  Fund cluster accounting
• The GAM for NGAs was promulgated primarily to harmonize the government accounting standards with?

  International Public Sector Accounting Standards (IPSAS
• It is an authorization issued by the DBM to NGAs to incur obligations. It is also referred to asObligational Authority.

  Allotment
• All disbursements of government entities must be in conformance with the law and the

  National Budget
• Detailed financial statements and trial balances consolidated by fund cluster as follows

  01. Regular Agency Fund

  02. Foreign Assisted Projects Fund

  03. Special Accounts - Locally Funded/Domestic Grant Fund

  04. Special Accounts - Foreign Assisted/ Foreign Grant Fund

  05. Internally Generated Funds

  06. Business Related Funds

  07. Trust Receipt/Inter-agency Transfered Funds (IATF)
• Recognized without cash

  Accrual Basis
• It is the authorization made by a legislative body to allocate funds for purposes specified by the legislative or similar authority.

  Appropriation
• Respondisble for the formulation and implementation of the National Budget with the goal of attaining our national socio-economic plans and objectives

  Department of Budget and Management
• Plays a pivotal role in the cash operation of national government

  Bureau of Treasury
• Econmpasses the process of analysing, recording, classifying, summarising, and communicating all transaction

  Government Accounting Section 109 Presidential Degree 1445
• Not considered as Government Business Enterprises (GBE)

  National Government Agencies (NGA)Local Government Units (LGU)Government Owned and/or Controlled Corporation (GOCCs)
• Created in 2008 under COA Resolution No. 2008-12 to assist the commission in formulating and implementing Phil. Public Sector Accounting Standards (PPSAS).

  Public Sector Accounting Standards Board (PSASB)
• This sector shall apply to all National Gov. Agencies (NGAs), LGU, GOCC.

  Philippine Public Sector Accounting Standards (PPSAS)
• The registry shall be maintained by the Budget Division/ Unit by Appropiation Act, fund cluster, by major final output (MFO) or program/activity/project (pap) for financial expenses

  Registry of allotments, Obligations and disbursement- fiancial expenses