Pt. Multi Bintang Indonesia

Topics: Generally Accepted Accounting Principles, Balance sheet, Asset Pages: 13 (1272 words) Published: March 8, 2013
Basic Features and Policies

Wednesday, March 6, 13

Accrual Accounting

A modified accrual basis of accounting shall
be used.

All expenses shall be recognized when
incurred and reported in the financial
statements in the period to which they relate.

Income shall be on accrual basis except for
transactions where accrual basis is impractical
or when other methods are required by law.

Wednesday, March 6, 13

One Fund Concept
• NGAS adopts the one-fund concept.
• Separate fund accounting shall be done only
when specifically required by law or by a
donor agency or when otherwise
necessitated by circumstances subject to
prior approval of the Commission.

Wednesday, March 6, 13

Chart of Accounts and
Account Codes
• A new chart of accounts and code

structure with a three-digit account
numbering system shall be adopted.

Wednesday, March 6, 13

Books of Accounts
• All national agencies shall maintain two sets
of books, namely:

• Regular Agency (RA) Books.
• National Government (NG) Books.

Wednesday, March 6, 13

RA Books
• These shall be used to record the receipts

and utlization of Notice of Cash Allocation
(NCA) and other income/receipts which
the agencies are authorized to use and to
deposit with Authorized Government
Depository Bank (AGDB) and the National

Wednesday, March 6, 13

NG Books
• These shall be used to record income

which the agencies are not authorized to
use and are required to be remitted to the
National Treasury.

Wednesday, March 6, 13

Wednesday, March 6, 13

RA Books - Journals
and Ledgers

Cash Receipt Journal (CRJ)
Cash Disbursement Journal (CDJ)
Check Disbursements Journal (CkDJ)
General Journal (GJ)


General Ledger (GL)
Subsidiary Ledgers (SL) for: Cash, Receivables, Inventories, Investments, PPE, Construction in Progress, Liabilities, Income, Expenses

NG Books

Wednesday, March 6, 13

Cash Journal (CJ)
General Journal (GJ)
General Ledger (GL)
Subsidiary Ledger (SL)
With the implementation of the computerized
agency accounting system, only the GJ shall be
used together with the ledgers by both books.

Financial Statements
• Balance Sheet
• Statement of Government Equity
• Statement of Income and Expenses
• Statement of Cash Flows
• Notes to FS shall accompany the above

Wednesday, March 6, 13

Two-Money Column
Trial Balance
• The two-money column trial balance

showing the account balances shall be used.

• Reported monthly.

Wednesday, March 6, 13

Allotment and
• Obligation acounting is modified to simplify
procedures in the incurrence and
liquidation of obligations and the recording
of the budgetary accounts.

Wednesday, March 6, 13

Allotment and
Separate registries shall be maintained to control
the allotment and obligations for each of the four
classes of allotments:

RAO - Maintenance and Other Operating
Expenses (RAOMO)

Wednesday, March 6, 13

Registry of Allotments and Obligations (RAO) Capital Outlay (RAOCO)

RAO - Personal Services (RAOPS)
RAO - Financial Expenses (RAOFE)

Notice of Cash
Allocation (NCA)
• The receipt of NCA by the agency shall be

recorded in the books as to account “Cash
- National Treasury, Modified Disbursement
System (MDS)” and credited to “Subsidy
Income from National Government.”

Wednesday, March 6, 13

Financial Expenses
• Financial expenses such as bank charges,

interest expenses, commitment charges and
other related expenses shall be separately
classified from Maintenance and Other
Operating Expenses (MOOE)

Wednesday, March 6, 13

Perpetual Inventory of
Supplies and Materials

Supplies and materials purchased for inventory
purpose shall be recorded using the perpetual
inventory system.

Regular purchases shall be coursed...
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