Government Accountants, Budget Officers, Treasurers and Auditors’ Forum
A disbursement authority is a document issued to an agency authorizing the liquidation/payment of obligations incurred. There are several types of disbursement authority issued by the Department of Budget and Management (DBM) to government agencies. These documents include the following: 1. Cash Disbursement Ceiling (CDC). An authority issued by the DBM to departments with overseas […]
It’s almost yearend and it is almost time again to prepare and file yearend tax remittances. Customarily, what some do is to retrieve their previous years’ files, copy, paste, and edit to make a new file — without really taking time to check if there is a new version of the form. End result? Some […]
Preparing your Budget and Financial Accountability Reports (BFARs) is acceptably difficult, especially if your agency is receiving numerous funds from different sources. (Kudos to all Government Accountants and Budget Officers who do this!) What’s more difficult is to check if all funds, obligations, and disbursements were all properly accounted for. But do you know that […]
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Simply explained, you incur obligations when the pizza is served or delivered to you while disbursements happen when you pay for the pizza.
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