FAQs — Whose responsibility is the preparation of payroll?
Is payroll preparation a responsibility of the HR unit or Accounting unit?
Category: Accounting 101
Whose responsibility is the submission of vouchers to COA — Cashier or Accountant?
Yung submission po ba ng vouchers for audit responsibility po ng accountant or cashier? Kc po ung AOM namin dito ng non-submission of voucher on time eh nka attention sa accountant eh ung cashier naman po ang ngsusubmit ng voucher sa COA.
When to capitalize interest (borrowing cost) from a loan?
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.
How to prepare a Statement of Comparison of Budget and Actual Amounts (SCBAA)?
We’ve provided the specific procedures on how to prepare a SCBAA.
What is the difference between Due and Demandable Obligations and Not Yet Due and Demandable Obligations?
The Government Accounting Manual (GAM) for National Government Agencies defines obligation as: Obligation is an act of a duly authorized official which binds the government to the immediate or eventual payment of a sum of money. Obligation maybe referred to …
Easy to Understand Guide on the Grant of Honoraria to Government Personnel Involved in Government Procurement
This easy to understand guide answers the following questions:
– What is Honoraria?
– Who can be paid honoraria and for what condition?
– What constitutes “successfully completed procurement projects”?
– Is the payment of honoraria applicable to all kinds of procurement projects?
– Are all government personnel involved in government procurement entitled to honoraria?
– Whose personnel who are involved in government procurement are not entitled to honoraria?
– Where to get funds for the payment of honoraria i.e., funding source?
– What’s the definition of savings as far as the grant of honoraria for personnel involved in government procurement is concerned?
All National Government Offices will soon use an online system called BTMS to process their financial transactions
The BTMS has the capability to generate standard forms such as Procurement Request (PR), Purchase Order (PO), Budget Utilization Request and Status (BURS), Disbursement Voucher (DV), and Journal Entry Voucher (JEV), among others.
Additionally, the BTMS can also generate budget and financial accountability reports (BTMS) and financial statements, both on a consolidated and disaggregated format.
Frequently Asked Questions (FAQs) on Collective Negotiation Agreement (CNA) Incentives
Read the answers to these FAQs.