What is state accounting in the Philippines? Is it similar to state auditing? 

Under Section 109, of the Presidential Decree (PD) no. 1445, defines Government Accounting as one that encompasses the process of analyzing, classifying, summarizing and communicating all transactions that are involved in the receipt and disbursement of all government funds and properties, and interpreting the results thereof. In pursuant to this definition, objectives were set to … Continue reading What is state accounting in the Philippines? Is it similar to state auditing? 

What is Budgeting in the Philippine Government?

What is budgeting? Explain the four (4) phases of the budget cycle. What are the problems encountered during each phase? Provide or propose solutions to the problems encountered during each phase. Government budgeting is the critical exercise of allocating revenues and borrowed funds to attain the economic and social goals of the country. It also … Continue reading What is Budgeting in the Philippine Government?

The 4321 method of saving money

Piggy Banks are obsolete and the method isn’t advised by financial analysts. Boys loved to boast something like newly bought sports car or limited edition shoes and to some degree boast even their salaries. Most of my colleagues share their incomes to each other from time to time and how much they have on their … Continue reading The 4321 method of saving money