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  • Prelim Quiz 2 ANSWER KEY

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    This document outlines the Philippine government budgeting process in 8 steps: 1) Budget preparation involves the DBM issuing a budget call and departments submitting estimates to the DBM, House of Representatives, and Senate for review and approval. 2) The approved budget is finalized by the DBM and presented to Congress. 3) During budget execution, allotments are released by the DBM and cash allocations are issued. 4) Budget accountability involves monitoring and evaluation of funds utilization by the DBM, accountability reports by agencies, audits by the COA, and performance confirmation.

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    This document outlines the Philippine government budgeting process in 8 steps: 1) Budget preparation involves the DBM issuing a budget call and departments submitting estimates to the DBM, House of Representatives, and Senate for review and approval. 2) The approved budget is finalized by the DBM and presented to Congress. 3) During budget execution, allotments are released by the DBM and cash allocations are issued. 4) Budget accountability involves monitoring and evaluation of funds utilization by the DBM, accountability reports by agencies, audits by the COA, and performance confirmation.

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    4 views2 pages

    Prelim Quiz 2 ANSWER KEY

    Uploaded by

    ashley
    This document outlines the Philippine government budgeting process in 8 steps: 1) Budget preparation involves the DBM issuing a budget call and departments submitting estimates to the DBM, House of Representatives, and Senate for review and approval. 2) The approved budget is finalized by the DBM and presented to Congress. 3) During budget execution, allotments are released by the DBM and cash allocations are issued. 4) Budget accountability involves monitoring and evaluation of funds utilization by the DBM, accountability reports by agencies, audits by the COA, and performance confirmation.

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    of 2

    COLLEGE OF BUSINESS AND ACCOUNTANCY

    Mabini Extension, Cabanatuan City


    Name: Score: /50
    Year & Block: Date:

    MAC 5 – Government Accounting


    Prelim Quiz #2

    BUDGET PREPARATION:
    2. Agency/Entity/Branch: HOUSE OF
    1. Agency/Entity/Branch: DBM APPROPRIATION
    Document issued/Tasks: Document issued/Tasks:
     BUDGET CALL  HEARING
     SCRUTINIZING
     GAB

    2. Agency/Entity/Branch: DEPT. & AGENCIES 3. Agency/Entity/Branch: APPROPRIATION


    Document issued/Tasks: COMMITTEE
     ESTIMATED BUDGET FOR THE Document issued/Tasks:
    NEXT FISCAL YEAR  SPONSOR (GAB)
     PRESENT (GAB)
     DEFEND (GAB)
    3. Agency/Entity/Branch: DBM
    issued/Tasks: 4. Agency/Entity/Branch: Senate
     REVIEW Document issued/Tasks:
     RECOMMEND  HEARING (GAB)
     DELIBIRATION (GAB)

    4. Agency/Entity/Branch: EXECUTIVE REVIEW 5. Agency/Entity/Branch: BICAMERAL


    BOARD CONFERENCE COMMITTEE
    Document issued/Tasks: Document issued/Tasks:
     REVIEW  DISCUSS
     HARMONIZE

    6. Agency/Entity/Branch: SENATE & HOUSE OF


    5. Agency/Entity/Branch: DBM REPRESENTATIVES
    Document issued/Tasks: Document issued/Tasks: N/A
     CONSOLIDATE

    6. Agency/Entity/Branch: PRSIDENT & CABINET BUDGET EXECUTION:


    Document issued/Tasks:
     APPROVAL 1. Agency/Entity/Branch: Government agencies &
     REFINEMENT departments
     PRIORITIZATION Document issued/Tasks:
     BUDGET EXECUSION DOCUMENTS

    7. Agency/Entity/Branch: DBM
    Document issued/Tasks: 2. Agency/Entity/Branch: DBM
     PREPARE AND FINALIZE BUDGET Document issued/Tasks:
    DOCUMENTS  ALLOTMENT RELEASE PROGRAM

    8. Agency/Entity/Branch: CONGRESS 3. Agency/Entity/Branch: DBM


    Document issued/Tasks: Receive the finalized Document issued/Tasks:
    budget documents.  NOTICE OF CASH ALLOCATIONS

    BUDGET ACCOUNTABILITY:

    1. Agency/Entity/Branch: DBM
    Document issued/Tasks:
    BUDGET LEGISLATION/AUTORIZATION
     MONITOR
    1. Agency/Entity/Branch: N/A  ASSESS
    Document issued/Tasks: President’s Budget  EVALUATE
     RECOMMEND
    2. Agency/Entity/Branch: DEPT. & AGENCIES
    Document issued/Tasks:
     BUDGET ACCOUNTABILITY
    REPORT

    3. Agency/Entity/Branch: DBM
    Document issued/Tasks:
     REVIEW UTILIZATION OF FUNDS

    4. Agency/Entity/Branch: COA
    Document issued/Tasks:
     AUDIT AGENCIES & DEPARTMENTS

    5. Agency/Entity/Branch: DBM
    Document issued/Tasks:
     CONFIRM AGENCIES’
    PERFORMANCE

    Prepared by:

    GLYZELLE ANN Y. FERNANDEZ, CPA


    Course Instructor

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