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.
When to capitalize interest (borrowing cost) from a loan? Read More »
We’ve provided a list of examples of expenses which can be or cannot be charged against the GAD Budget of National Government Agencies (NGAs) and Local Government Units (LGUs).
This policy is applicable to all DepEd’s non-lUs namely, elementary schools (ESs) and secondary schools (SSs) operating without a complete set of books of accounts.
Post Views: 13,104 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 as a commitment that encompasses possible future liabilities based on current contractual
An appointment is considered nepotic when issued to a person related to a head of office within the prohibited degree of relationship, regardless of whether or not the aforesaid head of office has exerted undue influence on the recommending or appointing authority.
Nepotism: How to Count the Level of Degree of Consanguinity and Affinity? Read More »
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?
Uy wants the government to review the practice of having COA resident auditors hold physical offices within the compound of the agencies they are assigned to audit.
“Either they get corrupted or bullied by agency heads and regular employees. We must protect our honest state auditors,” she said.
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.
