Quiz

14 Sep 2022

How to compute monetization of leave credits?

Question/Topic: A national government employee, SG 19 (P49,835.00) requested to monetize his 30 days leave credits. The agency Accountant certified that there is available Personnel Services allotment to cover the request and the agency head approved the payment of the same. How much will the employee receive for his monetized leave credits? Answer The formula to compute monetization of leave credits can be found in Budget Circular No. 2016-2 dated March 29, 2016 re: Computation and Funding of Terminal Leave Benefits and Monetization of Leave Credits (MLC). The formula is: MLC = S x D x CF Where: MLC =...

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6 Sep 2022

Quiz: Five (5) Forbidden Expenditures in the Government

Let’s us test how well do you know your IUEEU also known as the five (5) forbidden expenses in the government. Answer the following questions by clicking/choosing the correct answer. Tell us in the comments section below how many did you get correctly. You may now begin. Congratulations! Your score is shown above. Scroll up a bit if you cannot see it on your screen. This quiz is based on Commission on Audit (COA) Circular No. 2012-003 dated October 29, 2012 re: Updated Guidelines on the Prevention and Disallowance of Irregular, Unnecessary, Excessive, Extravagant and Unconsionable (IUEEU) ExpendituresTo learn more...

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