UNIVERSITY OF MAKATI

J. P. Rizal Ext., West Rembo, Makati City

COLLEGE OF BUSINESS AND FINANCIAL SCIENCE
Department of Accountancy
Course Title Title
Module
No. 1 Overview of Government Accounting

Government Module Leader Mary Jane L. Estores

Accounting
Module
Not Applicable
Contributors

Timeframe: You are expected to finish all the activities, assignments, and
assessments of this module on February 12, 2023 11:59 PM.

How to Complete this

module? 1. Attend on site class
2. Complete the reading assignment on chapter 1 of the book
prescribed.
3. Complete the Module puzzle words game in the TBL Hub LMS.
4. Complete the problem set questions from the prescribed book.

Teaching Strategies Prescribing a book, Discussion, Gamification and Problem Solving.

Introduction/Overview.
INTRODUCTION

This module aims to develop knowledge, skills, and attitude of the student in learning the
government accounting general idea. This includes the responsibility, accountability and
liability over government funds and property; manual and standards used in government
accounting; and qualities of financial reporting in government accounting. This module is
designed to educate the minds of students on general concepts of Government
Accounting.

Module Learning Outcomes

LEARNING OUTCOMES

By the end of this module, you should be able to:

1. Define Government Accounting
2. Identify Government Entities charged with accounting responsibility, accountability and
liability over government funds and property
3. Describe Government Accounting Manual (GAM) for New Government Accounting
System (NGAS) and Philippine Public Sector Accounting Standards (PPSAS).
4. State the Accounting and Budget Reporting Principles used in Government.
5. Summarize Qualitative Characteristics of Financial Reporting, Components of General
Purpose Financial Statements and Elements of Financial Statements
 Overview of Government Accounting

Government Accounting Definition and its objectives.

• Government Entities charged with accounting responsibility, accountability and liability

over government funds and property.

Government Accounting encompasses the processes of analyzing, recording,

classifying, summarizing, and communicating all transactions involving the receipt,
disposition, and utilization of government funds property and interpreting the results
thereof.

What is the accounting unit for governmental entity?

The accounting unit for governmental entity is the fund. A fund is a sum of money or
other resources set aside for the purpose of carrying out specific activities or attaining
certain objectives in accordance with special regulations, restrictions, or limitations.

The two principal types of funds according to purpose are:

General Fund – generally available for all functions of the government

Special Fund – these are legally restricted to expenditures for specified purposes

How are the operations of a fund controlled?

The operations of a fund, which embrace the principal activities of the government, are
normally controlled by a system of budgets.

Government Accounting places greater emphasis on Sources and Utilization,

Responsibility, Accountability and Liability of govt. funds.

Sources - include receipts from taxes and other fees, borrowings and grants.
Utilization - includes expenditures on programs, projects and unanticipated
losses.
Responsibility – Head of agency is responsible for efficiently and effectively
utilizing government resources.
Accountability – Government officer is entrusted with possession of
government resources and is accountable for safekeeping in accordance
with law
Liability – Unlawful use of resources shall be the Personal liability of
accountable officer.
CONTENT

• Government Accounting Manual (GAM), New Government Accounting System (NGAS)

and Philippine Public Sector Accounting Standards (PPSAS).

The old govt. accounting system was used for 5 decades before it was replaced by
the New Government Accounting System in 2002.

However, on January 2016, it was also replaced by the Government Accounting

Manual for NGAS.

This was promulgated primarily to harmonize with the International Public Sector
Accounting Standards.

• Offices charged with government accounting responsibility are

Commission on Audit – accounting and auditing rules.

Department of Budget and Management – national budget
Bureau of Treasury – the cash custodian under the Department of Finance.
Government Agencies – Any department, bureau or office of the national govt.
or any of its branches as well as Govt. owned and controlled corporation.

• Qualitative Characteristics of Financial Reporting, Components of General-Purpose

 Scope of Conceptual
Framework
ASSIGNMENT

1. In a PDF File attach group answers to puzzle words game for the concepts in
Definition, Recognition
governmentObjective
accounting.
of Financial
Reporting
Qualitative Characteristic and Measurement of
Elements
2. Answers multiple choice questions of the chapter 1 of the prescribed book.

Financial Position Financial Performance Cash Flows Relevance Reliability Recognition Principle

Exception to “Point of
Understandability Comparability Accounting Constraints Income Sale” Realization
Principle
ASSESSMENT

1. For the multiple choice question on the book Millan, chapter 1, a student must write the
Matching Principle

correct letter of the answer.

2. The student should have at least 90% correct answer in the puzzle word game.

The student must have at least 80% correct answer to multiple choice question on page of
their book.
RUBRICS

In the online game, the student should have at least 90% correct words searched in the
puzzle word game.
REFERENCES

Millan, ZV. (2018). Government Accounting and Accounting for Non-Profit Organizations.
Baguio City, Philippines: Bandolin Enterprise

Lofamia-Estores, M. [Mark,Mary,Martyn]. (2020, June 14). Overview of Government

Accounting[Video file]. Retrieved from https://youtu.be/wTZgto_MYPc