Pt. Multiple Bintang Philippines Research Daily news


Standard Features and Policies

Wednesday, March 6, 13

Accrual Accounting

A modified accrual foundation accounting shall

be used.

All bills shall be identified when

incurred and reported in the financial

statements inside the period where they connect.

Profits shall be about accrual basis except for

deals where accrual basis can be impractical

or perhaps when additional methods will be required by law.

Wednesday, March six, 13

One Fund Principle

• NGAS adopts the one-fund principle.

• Individual fund accounting shall be carried out only

the moment specifically necessary by law or by a

donor agency or perhaps when in any other case

necessitated by circumstances susceptible to

prior authorization of the Commission payment.

Wednesday, Drive 6, 13

Chart of Accounts and

Account Requirements

• A fresh chart of accounts and code

framework with a three-digit account

numbering system will be adopted.

Thursday, March six, 13

Literature of Accounts

• All national agencies shall maintain two units

of books, namely:

• Regular Organization (RA) Catalogs.

• Nationwide Government (NG) Books.

Wed, March 6, 13

RA Books

• These should be used to record the receipts

and utlization of Detect of Cash Allowance

(NCA) and other income/receipts which in turn

the firms are certified to use and also to

deposit with Authorized Authorities

Depository Financial institution (AGDB) plus the National


Wednesday, March 6, 13

NG Books

• These shall be used to record profits

which the agencies are not authorized to

use and are necessary to be remitted to the

Nationwide Treasury.

Thursday, March 6th, 13

Friday, March six, 13

RA Books -- Journals

and Ledgers


Cash Invoice Journal (CRJ)

Cash Payment Journal (CDJ)

Check Payments Journal (CkDJ)

General Journal (GJ)


General Journal (GL)

Additional Ledgers (SL) for: Money, Receivables, Inventories, Investments, PPE, Construction in Progress, Liabilities, Cash flow, Expenses

NG Books

Wednesday, Drive 6, 13

Cash Log (CJ)

General Journal (GJ)

General Journal (GL)

Part Ledger (SL)

With the rendering of the computerized

agency accounting system, the particular GJ shall be

used with the ledgers by both ebooks.

Financial Transactions

• "balance sheet"

• Affirmation of Government Collateral

• Assertion of Profits and Expenditures

• Statement of Cash Moves

• Remarks to FS shall accompany the above


Wednesday, Drive 6, 13

Two-Money Column

Trial Equilibrium

• The two-money line trial balance

showing the account balances shall be applied.

• Reported monthly.

Wed, March six, 13

Interest and


• Obligation acounting is modified to simplify

techniques in the incurrence and

liquidation of responsibilities and the recording

of the budgetary accounts.

Wed, March six, 13

Allotment and


Distinct registries will be maintained to control

the cut and commitments for each in the four

classes of allotments:

RAO -- Maintenance and also other Operating

Bills (RAOMO)

Friday, March 6, 13

Computer registry of Allotments and Obligations (RAO) Capital Outlay (RAOCO)

RAO - Personal Companies (RAOPS)

RAO - Monetary Expenses (RAOFE)

Notice of Cash

Allocation (NCA)

• The receipt of NCA by agency should be

recorded inside the books as to account " Cash

- National Treasury, Modified Disbursement

System (MDS)” and acknowledged to " Subsidy

Income from Countrywide Government. ”

Wednesday, Mar 6, 13

Financial Bills

• Economical expenses such as bank fees,

interest bills, commitment charges and

other related expenses will be separately

classified from Repair and Other

Working Expenses (MOOE)

Wednesday, Drive 6, 13

Perpetual Products on hand of

Materials and Elements

Materials and supplies purchased for inventory

goal shall be documented using the never ending

inventory system.

Standard purchases should be coursed...


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