Chapter 1 Flashcards
Provision of law that gave the Commission on Audit the authority to promulgate accounting and auditing rules and regulations.
Article IX-D, Sec. 2, Par. 2 of the 1987 Philippine Constitution
Philippine Public Sector Accounting Standards were adopted through ____________ dated January 18, 2002.
COA Resolution No. 2002-002
The Revised Chart of Accounts was prescribed under _____________ dated _________.
COA Circular No. 2013-002
January 30, 2013
________________ states that government accounting “encompasses the process of analyzing, recording, classifying, summarizing and communicating all transactions involving the receipt and disposition of government fund and property and interpreting the results thereof.”
Sec. 109 of PD 1445
________________ sets down four objectives of government accounting.
Sec. 110 of PD 1445
Public Sector Accounting Standards Board was created in ________________ under ________________ dated ________________.
2008
COA Resolution No. 2008-12
October 10, 2008
________________ dated January 24, 2014 provides that: “after a study and review of the provisions of the International Public Sector Accounting Standards Board recommended the adoption of IPSAS…”
COA Resolution No. 2014-003
According to ________________, the COA should submit an annual report to the President and Congress ________________ (time fixed by law).
Sec. 41, PD 1445
Not later than the last day of September each year
________________ states that the COA shall have exclusive authority to:
- define the scope of its audit and examination
- establish the techniques and methods required
- promulgate accounting and auditing rules and regulations
Article IX-D, Sec. 2, Par. 2 of the 1987 Philippine Constitution
COA created the Public Sector Accounting Standards Board under _____________________ dated Octoboer 10, 2008.
COA Resolution No. 2008-12
October 10, 2008
According to _____________________, the Department of Budget and Management is responsible for the formulation and implementation of the National Budget with the goal of attaining our national socio-economic plans and objectives.
Sec. 2, Chapter 1, Title XVII, Book IV of the Administrative Code of the Philippines (EO 292)
_____________________ dated _____________________ states that the responsibility of the Department of Budget and Management includes:
- United Accounts Code Structure
- validation and assignment of new codes for funding source organization
- sub-object codes for expenditure items
- validation and assignment of new program, activity and project codes
Joint Circular No. 2013-1
August 6, 2013
_____________________ dated _____________________ states that the responsibility of the Department of Finance-Bureau of Treasury includes:
* United Accounts Code Structure
* consistency of accounts classification and coding standards with Government Finance Statistics
Joint Circular No. 2013-1
August 6, 2013
RRORS
Registry of Revenue and Other Receipts-Summary
RROR-RA&FAP
Registry of Revenue and Other Receipts-Regular Agency and Foreign Assisted Projects Fund
RROR-SADFGF
Registry of Revenue and Other Receipts-Special Account Locally Funded/Domestic Grants Fund and Special Account Foreign Assisted/Foreign Grants Fund
RROR-IGF/BRF
Registry of Revenue and Other Receipts - Internally Generated Funds (Off- Budgetary Funds - Retained Income Funds)/Business Related Funds
RROR-TR/IATF
Registry of Revenue and Other Receipts - Trust Receipts/Inter-agency Transferred Funds
RAPAL
Registry of Appropriation and Allotments
RAOD-PS
Registry of Allotments, Obligations and Disbursements - Personnel Services
RAOD-MOOE
Registry of Allotments, Obligations and Disbursements - Maintenance and Other Operating Expenses
RAOD-FE
Registry of Allotments, Obligations and Disbursements - Financial Expenses
RAOD-CO
Registry of Allotments, Obligations and Disbursements - Capital Outlays
RBUD-PS
Registry of Budget, Utilization and Disbursements - Personnel Services
RBUD-MOOE
Registry of Budget, Utilization and Disbursements - Maintenance and Other Operating Expenses
RBUD-FE
Registry of Budget, Utilization and Disbursements - Financial Expenses
RBUD-CO
Registry of Budget, Utilization and Disbursements - Capital Outlays
RANCA
Registry of Allotments and Notice of Cash Allocation
RANTA
Registry of Allotments and Notice of Transfer of Allocation
____________________ dated January 24, 2014 prescribed the adoption of 25 Philippine Public Sector Accounting Standards effective January 1, 2014.
COA Resolution No. 2014-003
PPSAs were based on IPSASs published in the ____________________ of the IPSASB.
2012 Handbook of International Public Sector Accounting Pronouncements
COA recognized the need to revise the New Government Accounting System Chart of Accounts prescribed in ____________________ dated ____________________ due to the demand for uniform accounts.
COA Cir. No. 2004-008
September 20, 2004
In recognition of the need for uniform accounts, the COA revokes ____________________ and adopts ____________________ dated ____________________.
COA Cir. No. 2004-008
COA Cir. No. 2013-002
January 30, 2013
COA Cir. No. 2013-002
Adoption of the Revised Chart of Accounts for NGAs
Aside from the Adoption of the Revised Chart of Accounts for NGAs, also considered by the COA are the following:
___________________ and ____________________.
COA Cir. No. 2014-003 dated April 15, 2014
COA Cir. No. 2015-007 dated October 22, 2015
COA Cir. No. 2014-003 dated April 15, 2014
Implementing Rules and Guidelines on the Conversion from the Philippine Government Chart of Accounts under NGAs to the Revised Chart of Accounts for NGAs
COA Cir. No. 2015-007
dated October 22, 2015
Prescribing the Government Accounting Manual for Use of all NGAs
________________ dated March 9, 2015 provides that for the purpose of preparing the Annual Financial Report and Annual Audit Reports, all NGAs shall submit to the COA Auditors and Government Accounting Sector and COA.
COA Circular No. 2015-002
COA Circular No. 2015-002
Supplementary guidelines on the preparation of financial statements and other reports, the transitional provisions on the implementation of the PPSAS, and other coding structures
The detailed financial statements and trial balances consolidated by the fund cluster as follows ___________________ (7)
- Regular Agency Fund
- Foreign Assisted Projects Fund
- Special Accounts-Locally Funded/Domestic Grants Fund
- Special Accounts-Foreign Assisted/Foreign Grants Fund
- Internally Generated Funds
- Business Related Funds
- Trust Receipt/Inter-agency Transferred Funds
