Government Accountants, Budget Officers, Treasurers and Auditors’ Forum
A GABOTAF member asked:Hello! May query lang ako. Once na naprepare na ang Obligation Request and Status at naapprove na ito, pwede na ba i-recognize ng accounting ang accounts payable neto lalo na sa mga malakihang contracts dahil naobligate mo …
Forum — When is it appropriate to recognize Accounts Payable? Read more »
On March 8, 2021, the Commission on Audit (COA) and the Department of Budget and Management (DBM) issued a Joint Circular (JC) prescribing the updated policies of the government with regards to accounts payables (A/Ps) that remain outstanding for two …
Q: Pwede po ba irecord sa books of accounts ang NYDDO (credit to Accounts Payable?) kasi sabi ng COA blind obligation daw po kaya hindi pwede? Ano po kaya ang basis nila? Answers | Comments Post Views: 1,649
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 …
Simply explained, you incur obligations when the pizza is served or delivered to you while disbursements happen when you pay for the pizza.
