Government Accountants, Budget Officers, Treasurers and Auditors’ Forum
Borrowing costs that are directly attributable to the acquisition, construction, or production of a qualifying asset shall be capitalized as part of the cost of that asset.
We’ve provided the specific procedures on how to prepare a SCBAA.
Uy wants the government to review the practice of having COA resident auditors hold physical offices within the compound of the agencies they are assigned to audit.
“Either they get corrupted or bullied by agency heads and regular employees. We must protect our honest state auditors,” she said.
Read 10 easy ways to avoid receiving AOM from COA.
According to the Commission on Audit, these must be present in the policies and procedures of the Agency to achieve an effective Internal Control System (ICS)
Learn 10+ budgeting terminologies that most accountants, budget officers and even state auditors often interchange their meaning.
Learn how the Philippine government prepares its budget, spends the same, and how it accounts its expenditures. Also learn how, as a citizen, you can be part of the budgeting process.
Check if your are submitting the required BFARs. Check also if you are submitting them on the new prescribed reporting timelines.
