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DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION

Sta. Filomena, Dipolog City

SCHOOL OF BUSINESS AND ACCOUNTANCY
SCOPE AND SEQUENCE

PHILOSOPHY OF DMC-CFI EDUCATION

Dipolog Medical Center College Foundation, Inc. maintains that full development of a person’s
potentials depends largely on the nature, level and suitability of stimuli and the challenges he encounter
in daily life. The role of DMCCFI as institution is such that it serves as a rich interactive environment
where the student is continually encouraged, motivated, and more importantly, challenged to produce
the optimal use of his innate and acquired skills.

SCHOOL VISION

Our vision is to be a leading educational institution, highly regarded for our commitment to
students; distinguished for excellence in instruction as responsive to the communities we serve.

SCHOOL MISSION

Guided by our vision, Dipolog Medical Center College Foundation will become a premier
educational institution through: quest for excellence, academic and professional competence, advance
in information technology, community involvement, working partnership, global perspective and over-
all learning experience.

GENERAL OBJECTIVES OF SCHOOL OF BUSINESS AND ACCOUNTANCY

The DMC College Foundation School of Business and Accountancy has the following objectives:
1. To mold all students to become computer literate, socially responsible, globally aware,
analytical, and reasonable decision-making individuals who are competent in interpersonal, oral
and written communication skills.
2. To produce graduates who are well-versed in the fundamental economic and business
principles, as well as the practical application of those principles in the simulated business
setting.
3. To design our educational programs in ways that prepares students or leadership roles in the
dynamic, domestic and global.
4. To deliver business professional who will be perceived not just business managers but leaders in
the society.
5. To constantly update the curricula of the different programs to prepare students to adapt to the
rapidly changing technology and to recognize diversity in the work place.
6. TO ensure that faculty members are responsible, committed and qualified in their respective
fields or profession.
7. To promote among the faculty members integrity, professionalism and compliance to the latest
trends, standards and developments in their chosen field of expertise.
8. To emphasize social responsibility as one of the business cores in nurturing well-rounded
business professionals of the future.
DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION
Sta. Filomena, Dipolog City

COURSE CODE : ACCY 6/5B
COURSE TITLE : New Government Accounting System
CREDIT UNIT : 3 units
LECTURE HOUR PER WEEK : 3 hours

I. COURSE DESCRIPTION
This course is intended to give the students a broad knowledge about the nature and scope of
the government accounting system, accounting for budgetary accounts; revised chart of accounts;
accounting for disbursements; accounting for income, collections and related transactions;
miscellaneous transactions; trial balance, financial reports and statements; accounting for local
government units and new barangay accounting system.

II. COURSE OBJECTIVES
At the end of the semester, students are expected to:
1. Describe the nature and scope of the New Government Accounting System
2. Explain the Accounting for Budgetary Accounts
3. Use the Revised Chart of Accounts
4. Explain the Accounting for Disbursements and Related Transactions
5. Explain the Accounting for Income, Collections and Related Transactions
6. Enumerate and explain what are considered Miscellaneous Transactions
7. Prepare the Government’s Trial Balance, Financial Reports and Statements
8. Explain the Accounting for Local Government Units
9. Explain the The New Barangay Accounting System

III. METHODOLOGY

IV. MEDIUM OF INSTRUCTION

V. COURSE OUTLINE TIME FRAME
1. Orientation Week 1
1.1 Review of DMCCFI Philosophy of Education
1.2 Overview of the course description, citing significance
And integration in the context of DMCCFI Philosphy
Of education

2. Nature and Scope of the New Government Accounting System Week 2
2.1 Government Accounting
2.2 Accounting Responsibility
2.3 Commission on Audit
2.4 Department of Budget and Management
2.5 Bureau of Treasury
2.6 Government Agencies
2.7 Basic Features of NGAS
2.8 Registries
2.9 Elimination of Corollary and Negative Journal Entries
DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION
Sta. Filomena, Dipolog City

3. Accounting for Budgetary Accounts Week 3
3.1 Accounting system
3.2 The national budget
3.3 Form and contents of the national budget
3.4 Fundamental principles of fiscal operations
3.5 Kinds of budget
3.6 The budget process
3.7 Budgetary accounts
3.8 Budgetary accounts system
3.9 Reporting Requirements
3.10 General Guidelines on the Release of Funds
3.11 The agency budget matrix
3.12 Conduct of the agency performance review
3.13 Common fund system
3.14 Accounting for obligations
3.15 Tax remittance advice

4. The Revised Chart of Accounts Week 4
4.1 Unified Accounts Code Structure
4.2 Revised Chart of Accounts
4.3 Account Titles and Codes

PRELIMINARY EXAMINATION Week 4

5. Accounting for Disbursements and Related Transactions Week 5
5.1 Disbursements Systems
5.2 Disbursements by checks
5.3 Disbursements by cash
5.4 Cash Advances for Travel
5.5 Disbursements Through Petty Cash Fund
5.6 Inventory Accounting System
5.7 Purchase and Construction of Fixed Assets
5.8 Construction Period Theory
5.9 Infrastructure Assets
5.10 General Repair/Construction of Fixed Assets by Administration
5.11 Purchase of Land and Building

6. Accounting for Income, Collections and Related Transactions Week 6
6.1 Receipts/Income Collections and Deposit System
6.2 Income
6.3 Methods of Accounting for Income
6.4 General Procedures for Cash Collections
6.5 Types of Collections
6.6 Income from sale of Equipment
6.7 Grants and Donations Intended for Agency
6.8 Receipt and Collection Process
DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION
Sta. Filomena, Dipolog City

MIDTERM EXAMINATION Week 8

7. Miscellaneous Transactions Week 9-10
7.1 Loss on cash and property
7.2 Request for relief from accountability
7.3 Cash overage
7.4 Stale MDS and commercial checks
7.5 Set-up and settlement of disallowances
7.6 Refund of overpayments
7.7 Inter-agency transferred funds
7.8 Dishonored checks
7.9 Performance Bonds

8. Trial Balance, Financial Reports and Statements Week 11
 Financial reporting system
 Trial balance
 Worksheet
 Adjusting journal entries
 Closing journal entries
 Generation of financial statements and supporting schedules
 Responsibility for financial statements
 Statement of management responsibility for financial statements
 Types of financial statements
 Cash flow Statement Preparation Methods
 Interim Foods

SEMIFINAL EXAMINATION Week 12

9. Accounting for Local Government Units Week 13-14
9.1 Form and Content of Budget
9.2 The budget process
9.3 Changes in Annual budget
9.4 Failure to Enact an Annual Budget
9.5 Budgetary Accounting
9.6 Income/Collections and deposits
9.7 Sources of income
9.8 Methods of Accounting for Income
9.9 Other Receipts
9.10 Accounting for collections and deposits
9.11 Disbursements
9.12 Payments by cash
9.13 Payment out of the petty cash fund
9.14 Purchase or construction of property, plant and equipment
9.15 Purchase of supplies
9.16 Miscellaneous transactions
9.17 Loss of cash and Property accountability
9.18 Cash overage
DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION
Sta. Filomena, Dipolog City

9.19 Dishonored checks
9.20 Cancellation of lost check issued
9.21 Spoiled and stale check
9.22 Suspension, disallowance and charge
9.23 Trial balance and financial statements
9.24 Adjusting journal entries
9.25 Pre-closing trial balance
9.26 Closing journal entries
9.27 Post-closing trial balance
9.28 Interim reports
9.29 Statement of management responsibility for financial statements
9.30 General fund
9.31 Special education fund
9.32 Basis of recording special education tax
9.33 Accounting for special education fund
9.34 Trust fund
9.35 Accounting for trust fund
9.36 The new coding structure
9.37 Special accounts in the general fund
9.38 Accounting for special accounts
9.39 Fund/Special Account Code
9.40 Accounting for Profit from Operations
9.41 Accounting for Supplies or Property
9.42 Classification of Supplies or Property
9.43 Procedures for Requisitions, Deliveries, and Issuance of Supplies or Property
9.44 Revised Rates of Representation and Transportation Allowances (RATA)

10. The New Barangay Accounting System Week 14
10.1 Basic features and Policies
10.2 Barangay Accounting System Plan
10.3 Major Financial Transactions
10.4 Appropriations and Commitments
10.5 Receipts and Deposits
10.6 Disbursements
10.7 Supplies and Materials
10.8 Property, Plant and Equipment, Public Infrastructure/Reforestation Project
10.9 Trial Balances and Adjusting/Closing Entries
10.10 Financial Statements and Supporting Schedules

FINAL EXAMINATION Week 15

VI. REFERENCES

Government Accounting
By: Angelito R. Punzalan, CPA, MBA; Milagros M. Cardona, CPA, MBA
DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION
Sta. Filomena, Dipolog City

VII. EVALUATION PROCEDURES
CLASS PARTICIPATION/ QUIZZES 40%
ATTENDANCE 10%
PROJECTS/ ASSIGNMENTS 10%
MAJOR EXAMINATION 40%
TOTAL 100%

DATE REVISED: January 2016

PREPARED BY: Gina Lou M. Cacho, CPA

CHECKED BY: MRS. RACHELL-ANN B. BULJATIN, CPA
OIC-Dean, School of Business and Accountancy

APPROVED BY: Dr. DINO JOEY L. CORDOVA
Dean of Instruction/ VP for Academic Affairs