Name: RENELLE B.

HABAC

Section: CBET-01-601P

Reflection on the Development of Government Accounting

1. Why is there a need for change in accounting for government transactions?

As government accounting is continuously expanding, it is not enough to just

account for cash basis system. A change must be done to prevent waste and misuse
of the funds. As our world is continuously changing, so are the concepts and
perceptions of the government, the quality of goods, economy and even the
government budget systems.

2. As a scholar of the government, why do you need to take learning

government accounting seriously?

We knew that government entities are not the same as these profit oriented
entities but it is very important to note that they can account for funds received and
must show how the budget have been spent. So, as a scholar of this government we
must learn our government accounting to know how they spend the money
particularly that we are part of these so called tax payers which is entitled to know
how the government is spending the money we are paying for.

3. Would you consider being a government accountant? Why?

Yes, because the government accountant plays a crucial work especially in

information’s accuracy and completeness to investigating various government agencies’
financial accounts for signs of fraudulent activity or other types of budget-related
malfeasance. They also play an integral part in budget and financial declaration
process. I want to give back to the people (these tax payers) through assessing properly
and examining government agencies’ records.