Topic Outline of Group 2 (Accounting)

I. Introduction
a. Legal Basis
b. Coverage
c. Objective of the Manual (Government Accounting Manual)
https://www.coa.gov.ph/wp-content/uploads/ABC-Help/GAM_A/b1.htm

II. General Provisions, Basic Standards and Policies

a. Definition of terms
b. Responsibility, Accountability and Liability over Government Funds and Property.
i. Responsibility
ii. Accountability
iii. Liability
c. Fundamental Principles for Disbursement of Public Funds
d. Basic Government Accounting and Budget Reporting Principles
e. Keeping of the General Accounts
Books of Accounts and Registries. The books of accounts and registries of the NG entities
consist of:
A.) Journals
General Journal (Appendix 1)
Cash Receipts Journal (Appendix 2)
Cash Disbursements Journal (Appendix 3)
Check Disbursements Journal (Appendix 4)
B.)Ledgers
General Ledgers (Appendix 5)
Subsidiary Ledgers (Appendix 6) 8
C.) Registries
Registries of Revenue and Other Receipts (Appendices 7, 7A, 7B, 7C and 7D)
Registry of Appropriations and Allotments (Appendix 8)
Registries of Allotments, Obligations and Disbursements (Appendices 9A, 9B, 9C and 9D)
Registries of Budget, Utilization and Disbursements (Appendices 10A, 10B, 10C and 10D)

D.)Fund Accounting. The books of accounts shall be maintained by fund cluster as

follows: Code Description
01 Regular Agency Fund
02 Foreign Assisted Projects Fund
03 Special Account-Locally Funded/Domestic Grants Fund
04 Special Account-Foreign Assisted/Foreign Grants Fund
05 Internally Generated Funds
06 Business Related Funds
07 Trust Receipts

III. Financial Reporting

a. Scope
b. Definition of Terms
c. The Accounting Cycle
The General Accounting Plan for the Financial Transactions presents the
following financial transactions:
a. Collections and Deposits
b. Disbursements
Cash
Check
Authority to Debit Account
c. Procurements Received
 d. Miscellaneous and Other Transactions
e. Adjusting Entries
f. Closing Entries
G. Pre and Post Trial Balance
H. Bank Reconciliation
d. Purpose of Financial Statements
Components of General Purpose Financial Statements. The complete set of
GPFSs consists of:

 Statement of Financial Position

 Statement of Financial Performance
 Statement of Cash Flows
 Statement of Net/Assets Equity
 Statement of Comparison of Actual Budget and Actual Amounts
 Notes to Financial Statements

e. Financial statements provide information about an entity's:

f. Responsibility for Financial Statements.

IV. Comparison between LGU Accounting and Barangay Accounting