10 VALUABLE TIPS IN PREPARING YOUR BUDGET AND FINANCIAL ACCOUNTABILITY REPORTS (BFARS)
Understand and prepare your BFARs more effectively.
Government Accountants, Budget Officers, Treasurers and Auditors’ Forum
Understand and prepare your BFARs more effectively.
The No. 1 tip is actually enough, all the others are given procedures.
The confusion among Accountants, as well as Budget Officers and State Auditors, lies in where to charge reimbursable RATA, that is whether to charge reimbursable RATA against the Agency budget for PS or to charge it against the Agency budget for Maintenance and Other Operating Expenses (MOOE).
You’re about to discover something you haven’t realized all these years.
When Agencies do not use their annual budgets well, it is not the government that is at loss but the Filipino people.
Starting FY 2019, the cash-based budgeting will be in full implementation, this year being a transition period.