PA 118

• Public borrowing, also known as

  Government Borrowing or Public Debt
• One of the primary concerns of public borrowing is the obligation to repay borrowed funds with interest. High levels of debt can lead to significant_______

  Debt Servicing Costs
• When governments borrow extensively from financial markets, they compete with the private sector for available funds. This increased demand for borrowing can lead to higher interest rates, making it more expensive for businesses and individuals to borrow money for investment purposes. This phenomenon, known as "crowding out," can potentially dampen private sector investment and economic growth.

  Crowding Out Private Investment
• High levels of public debt can leave governments vulnerable to economic shocks or changes in investor sentiment. In times of economic downturns or financial crises, governments with elevated debt levels may face difficulties accessing credit markets or refinancing existing debt, leading to potential fiscal crises or sovereign debt defaults.

  Fiscal Vulnerability
• Excessive public borrowing can limit a government's ability to respond to future economic challenges or emergencies. High debt levels may constrain policymakers' options for implementing fiscal stimulus measures or providing financial assistance during crises, potentially exacerbating economic downturns or social disruptions.

  Reduce Fiscal Space
• While spreading the costs of public investments across generations can be considered an advantage, it also raises concerns about inter-generational equity. Excessive borrowing can saddle future generations with the burden of repaying debts incurred for current expenditures or investments, potentially leading to inter-generational tensions and inequities.

  Inter-generational Equity Concerns
• Persistent reliance on public borrowing, particularly without credible plans for debt reduction or fiscal consolidation, can undermine a government's creditworthiness and credibility in financial markets. This could lead to credit rating downgrades, higher borrowing costs, and reduced investor confidence, further exacerbating fiscal challenges.

  Creditworthiness and Market Perception
• In some cases, excessive public borrowing can contribute to inflationary pressures within an economy, especially if the government resorts to monetary financing (i.e., borrowing directly from the central bank). This can erode the purchasing power of currency, reduce real incomes, and distort resource allocation within the economy.

  Inflationary Pressures
• refers to the strategic planning and implementation of policies and practices aimed at effectively managing a government's or an organization's debt portfolio.

  Debt Management
• : State accounting may also be influenced by political considerations, as government decisions on budgeting, spending, and reporting can be influenced by political priorities and agendas

  Interplay with Politics
• are specifically tailored to the unique needs and characteristics of government entities. These standards provide guidance on accounting for taxes, grants, and other government transaction

  government accounting standards
• which shows the elements entering the computation of the net income/loss

  statement of operation
• accounts are the records kept for each type of asset, liability or the residual equity/surplus and capital.

  books of accounting
• state accounting also provides a system to ensure that funds are utilized only for legal purposes and are expended in compliance with rules and regulations

  internal control
• Constructive?

  Accounting
• protector of the people who shall act promptly on complaints filed against officers/employees of the government and private individuals who have participated or in conspiracy with the government officials/employees in the filed complaint.


  office of the ombudsman
• is a type of entity that is established and wholly or partly owned by a government.

  GOCC/ Government Owned and Controlled Corporation
• Directs redemocratization in the Philippines, passed and mandated the Code of 1991, and is the founder of EDSA people power.

  1. Corazon Aquino
• He served as the 15th President of the Philippines from June 30, 2016 until June 30, 2022.
• He led the country's transition back to democracy following the People Power Revolution of 1986.
• He was elected as the first democratically elected President of the Philippines since Ferdinand Marcos.
• The Philippine Constitution was ratified on February 2, 1987, during his term as President.
• this president focuses on political continuity and strong improvements in the economy. He also respected the constitutionalism, and stepped down in 1998. However, he seemed to be weak in prosecuting military rebels, with his inability to punish military personnels that violated human rights.

  Fidel V. Ramos
• This president focused on economic reforms such as privatizing government-owned corporations, deregulating industries, and liberalizing trade policies. She also implemented social programs like the Pantawid Pamilyang Pilipino Program (4Ps) and expanded access to education through the K to 12 program. Her administration faced criticism over corruption scandals involving her husband Joseph Estrada.
• Joseph Ejercito Estrada
• Won the presidential election and became the 15th president of the country. with his slogan "Daang Matuwid", his SONA focused on governance reform and anticorruption. He also won the arbitrary case against China over west Philippine Seas. 


  Benigno S. Aquino III
• His known negative impact is the mislead of the SAF 44, known as the Mamasapano incident.


  Benigno S. Aquino III
• Rose to power in EDSA people power II, and was credited for bringing the trust of the international arena back to the Philippine Government. Was a former member of the Congress.

  Gloria Macapagal-Arroyo
• War on drugs advocate, and the founder of the 3B's project.

  Rodrigo R. Duterte
• The constitution vests executive power on the President of the Philippines, which is the head of the state.


  Article VII, section I of the 1987 Constitution.
• According to Article VII, Section 2 of the 1987 constitution, any individual may become a president if he/she meets the following criteria:

  1. natural born Filipino; 2. a registered voter; 3. must be able to read and write; 4. 40 years of age at the day of the election; and 5. must have resided in the Philippines ten years before the election is held.
• The powers of the President

  1. Power of control over the executive branch, 2. Power ordinance power, 3. Power over aliens, 4. Powers of eminent domain, escheat, land reservation and recovery of ill-gotten wealth, 5. Power of appointment, 6. Power of general supervision over local governments, 7. Other powers
• has mandate control over all executive department


  Power of control over the executive branch
• The power to give executive issuances, which are meant to streamline the policy and programs of an administration.

  Ordinance power
• Ordinance powers


  Executive&Administrative orders,Proclamations,Memorandum orders, circulars,Special Orders
• — Acts of the President providing for rules of a general or permanent character in implementation or execution of constitutional or statutory powers shall be promulgated in executive orders.

  Executive orders
• Acts of the President which relate to particular aspects of governmental operations in pursuance of his duties as the administrative head shall be promulgated in administrative orders.

  Administrative orders
• Acts of the President fixing a date or declaring a status or condition of public moment or interest, upon the existence of which the operation of a specific law or regulation is made to depend, shall be promulgated in proclamations which shall have the force of an executive order.

  Proclamations
• Acts of the President on matters of administrative detail, or of subordinate or temporary interest which only concern a particular officer or government office shall be embodied in memorandum orders.

  Memorandum orders
• Acts of the President on matters relating to internal administration, which the President desires to bring to the attention of all or some of the departments, agencies, bureaus, or offices of the government, for information or compliance, shall be embodied in memorandum circulars.

  Memorandum circulars —