![]() If the account balances are not fairly presented in the FS, it would deprive the government of reliable and useful information in making decisions and establishing accountability for these assets.If said discrepancies are not addressed properly, it would could cause exception in the fairness of presentation of the financial position of the agency.There exist an enormous amount of discrepancies in PPE account balances which result to inaccurate presentation of said accounts in the financial statements (FS) of government agencies.According to COA, the PPE accounts constitute a significant portion of the assets of the government, usually 50%. ![]() ☑️ disposition procedures for non-existing or missing PPE items. ☑️ recognition of PPE items found at station and ☑️ conduct of physical count of property, plant and equipment 2020-06 in CY 2020 to prescribe the guidelines on the following for the one-time cleansing of PPE account balances of government agencies: The Commission on Audit (COA) issued COA Circular No.
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