Accounting 101

Common COA Audit Findings on Government Property, Plant and Equipment (PPE) – Recognition Of Government Properties Amounting To Less Than P50,000.00 as PPEs

September 19, 2023 •

Another common audit observation/findings of the Commission on Audit (COA) on government property, plant and equipment (PPE) is the recognition of properties amounting to less than P15,000 (now ₱50,000.00) as PPEs in the books of accounts which is contrary to Section 4, Chapter 10 of the Government Accounting Manual for National Government Agencies (GAM for […]

Common COA Audit Findings on Government Property, Plant and Equipment (PPE) – Recognition Of Government Properties Amounting To Less Than P50,000.00 as PPEs Read More »

Common COA Audit Findings on Government Property, Plant and Equipment (PPE) – Non-submission Of Complete And Accurate Inventory Records

May 3, 2020 •

One of the most common audit findings of the Commission on Audit (COA) on government property, plant and equipment (PPE) among government agencies is the non-submission of complete, accurate or reliable inventory records by the Accounting and/or Property Office of the agency. Due to the absence of inventory records, the auditor cannot ascertain the validity,

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Can the work of Supply Officer and Disbursing Officer be assigned to one employee, considering effective internal control?

May 1, 2020 •

Question: I was the supply officer before my maternity leave. Ngayon pong nakabalik na ako sa office, sabi ni head gagawin nya akong disbursing officer. Pero ninote nya na ako pa rin daw gagawa ng trabaho ng supply officer although di ako ang pipirma. Kaunti lang kami sa office at ako ang pinakabata, kaya feeling

Can the work of Supply Officer and Disbursing Officer be assigned to one employee, considering effective internal control? Read More »

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