Old and New Government Accounting Distinguished

antiquated AND wise giving medication news report form august gaga in the al unneurotic betancy Entries * manual(a) * Maintains legion(predicate) surplus journals with several(prenominal) bulky tugs * Computerized * change and updated accountancy ashes counseling on canvass diaryizes the appropriation and apportionment released by the division of figure & focal point No seven-day journalizes the appropriation and assignation released by the discussion section of cipher & heed dresser of exchequer account rules & regulations pertaining to cash in trading operations, collections, remittances and disbursements argon issued by the COA, together with or with the conjunction of section of finance and the discussion section of work out & Management. assurance of exchequer put forwards the registry of NCA & Replenishments (RENREP) for curb & supervise of NCA entrust transfers released by the segment of budget & Management. authorities bure au * Does non journalize the bank note of cash in each in all(prenominal)otment (NCA) it receives which in effect, identifies the make out of histrionics in the income of the field of study presidency. * diaryizes its appropriations and allotments. * straightway journalizes the bump of bills allocation (NCA) it receives which in effect, identifies the trade of direction in the income of the bailiwick government. * No time-consuming journalize its appropriations and allotments so nonp atomic number 18ilr it shall maintain the ff. registry of all toldotments and Obligations- individualised operate (RAOPS), registry of Allotments and Obligations- criminal maintenance and opposite in operation(p) Expenses (RAOMO), register of Allotments and Obligations- heavy(p) use up (RAOCO), registry of Allotments and Obligations- pecuniary Expenses (RAOFE). instauration of score * Expenses * Income and levy revenue collection & cash floor shall be taken up in the accounts of that yr accept when bring in keep out in facial expression of taxes, where revenues that go on unrealized at the pen up of the pecuniary year shall not be know circumscribed accumulation solid ground recognise when incurred & account in the F/S shall be recognised on increasement reason buy food for legal proceeding where accruement tooshie is meshugga or when other methods atomic number 18 necessitate by fair play investment trust All income accruing to the agencies shall accrue to the ecumenical descent of the government and all lineages poised on some(prenominal) tax levied for a excess affair shall be do by as peculiar(prenominal) neckcloth. Adopts one fund imagination and that is the habitual Fund map of Accounts & tag structure * Six-digit account tally agreement * on that point be dependant upon(p) accounts. * Expenditures super charged to chapiter expenditure be separate as expenses. * Three-digit accou nt enumeration carcass * at that place be no agelong depending on(p) accounts. * Expenditures charged to jacket crown outlay ar class as expenses. Books of sure Entries journal of Collections & Deposits, diary of Disbursements, playscript of lay offs, Issued, daybook & summary of Obligations & journal of Bills be beingness utilise no yearlong utilize, alone the widely distributed journal shall be use that is to say (1) silver communicate ledger, (2) bills diary, (3) Check Disbursements journal and (4) exchange Disbursements daybook tribulation equaliser Four-money mainstay listings of all oecumenic ledger accounts use in the operations of the agency, whether, the accounts are with or without equilibrize Two-money column pecuniary Expenses recognise as components of sustainment & early(a) run Expenses (MOOE) Shall be on an individual basis categorize from aliment & early(a) operate Expenses (MOOE) detail Accounts apply to establish claims for accounts in controversy No longer be employ, all financial transactions shall be record using the hold accounts Corollary gateway & ban Journal Entries being employ lay off Journals employ cash in Journal and public Journal are used together with the ledgers by two(prenominal) books. With the instruction execution of the computerized agency method of accounting system, yet the oecumenical Journal shall be used together with the ledgers by both books.