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Financial Reporting System...

The document provides guidance on financial reporting for the national government. It discusses using an accounting system on an accrual basis and a budget reporting system on a budget basis. It also covers fair presentation and compliance with public sector accounting standards, departures from those standards, the going concern principle, consistency of presentation, materiality and aggregation, offsetting, and reporting periods. Financial statements should be reported at least annually and disclose reasons for any changes in reporting dates.

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BEA GEDELYN GARCIA
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51 views3 pages

Financial Reporting System...

The document provides guidance on financial reporting for the national government. It discusses using an accounting system on an accrual basis and a budget reporting system on a budget basis. It also covers fair presentation and compliance with public sector accounting standards, departures from those standards, the going concern principle, consistency of presentation, materiality and aggregation, offsetting, and reporting periods. Financial statements should be reported at least annually and disclose reasons for any changes in reporting dates.

Uploaded by

BEA GEDELYN GARCIA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Financial Reporting System for

the National Government


Accounting System on accrual basis
Budget reporting system on budget
basis
Fair Presentation and
Compliance with PPSAS
Departure from PPSAS
Going Concern
Consistency of Presentation
Materiality and Aggregation
Offsetting
Reporting Period
At least annually
If reporting date changes,
disclose:
1. Reason for using a longer or
shorter period
2. The fact that comparative
amount in certain FS are not
entirely comparable

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