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Module 2 The Budget Cycle

This module covers the budget cycle in the Philippine government. It includes 4 main parts: 1) Budget preparation where government agencies prepare their budgets, 2) Budget legislation where the legislative body approves the budget, 3) Budget execution where funds are released to agencies, and 4) Budget accountability where agencies are reviewed. Students will learn about the national budget, bottom-up and zero-based budgeting approaches, and responsibility accounting principles. Assessments include mind mapping the 4 budget cycles and their importance, and answering multiple choice questions from the assigned reading.

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59 views3 pages

Module 2 The Budget Cycle

This module covers the budget cycle in the Philippine government. It includes 4 main parts: 1) Budget preparation where government agencies prepare their budgets, 2) Budget legislation where the legislative body approves the budget, 3) Budget execution where funds are released to agencies, and 4) Budget accountability where agencies are reviewed. Students will learn about the national budget, bottom-up and zero-based budgeting approaches, and responsibility accounting principles. Assessments include mind mapping the 4 budget cycles and their importance, and answering multiple choice questions from the assigned reading.

Uploaded by

leyn sanburg
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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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. 2 The Budget Cycle

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 26, 2023, 11:59PM.

How to Complete this 1. Attend Google meeting


module? 2. Complete the reading assignment on chapter 2 of the book
prescribed.
3. Mind Mapping of the Cycle or process.
4. Complete the problem set questions from the prescribed book.

Teaching Strategies Video PowerPoint presentation, Prescribing a book and Problem


Solving.
INTRODUCTION

Introduction/Overview.

This module aims to develop knowledge, skills, and attitude of the student in learning
the Budget Cycle in government. This includes steps in the Budget Cycle, 4 Budget
Cycle and principles of responsibility accounting. This module is designed to educate
the minds of students on the government’s budget cycle.
LEARNING OUTCOMES

Module Learning Outcomes

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


1. Enumerate the steps in the Budget Cycle.
2. Compare the 4 Budget Cycle as to its level of importance.
3. Describe briefly the principles of Responsibility accounting.
The Budget Cycle

 The National Budget

What is a budget?
A budget is a plan of financial operation composed of estimate or proposed
expenditures for a given period or purpose, and the proposed means of financing them.

 The Budget cycle

o The Budget Preparation - A budget is first prepared and presented by the


government agency.

Types of Budget
CONTENT

1. Bottom-up budgeting - Budgeting which starts from the lowest to highest


level of government. This is what the government usually uses.
2. Zero Based Budgeting - formulated without regard the previous budget.

o The Budget Legislation - Appropriation is made by legislative body to allocate


funds until the president approves the budget.

o The Budget Execution – Department of Budget and Management release the


allotment to different agencies of the government.

o The Budget Accountability - Head of various agencies review the performance of


their respective agency.

o Responsibility Accounting
Obligation – act of duly authorized official to bind government to eventual
payment. Commission on Audit examines the operations of the agencies with
the responsibility charged to them.
ASSIGNMENT

1. Watching The Budget Process https://youtu.be/5yKwgRkpVh8


2. Reading Chapter 2 of ZV. Millan Book
3. Mind-Mapping of the students in each of the 4 Budget cycles, students are divided into
a group of 4 explaining the level of importance of the 4 budget cycle.
ASSESSMENT

1. Mind-Map of the 4 Budget cycles


2. Essay written on the level of importance of the 4 Budget Cycle.

The student must have at least 75% correct answer to multiple choice question of their
RUBRICS

book.

In the Mind Map, the student should have at least correct explanation.
Millan, ZV.(2021). Government Accounting and Accounting for Non-Profit Organizations.
REFEREN
Baguio City, Philippines: Bandolin Enterprise
CES
Lofamia-Estores, M. [Mark,Mary,Martyn]. (2020, June 14). The Budget Process[Video
file]. Retrieved from https://youtu.be/5yKwgRkpVh8

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