NAME: RENELLE HABAC

SECTION: CBET-01-601P

DISBURSEMENTS

1. What government disbursements spark your interest? Why?

As we know that most of the transactions in the government involve

the receipt and disbursement cash. The cash transactions affect every
classification within the financial statements assets, liabilities, and
residual equity, income and expenses. Thus, it is essential that cash
transactions are recorded correctly for reliability in the financial statements.
So, it was the reason why cash disbursement sparks my interest. That cash
disbursement is a crucial one which is be made from cash advances drawn
and maintained in accordance with the Commission on Audit rules and
regulation because only the COA can promulgate accounting and auditing
rules in government accounting.

2. What is your take away from this chapter? Why?

As we know that disbursement means all the outflow of cash paid in a

given period and that it can be made with bills or coins and a check which
includes the Modified Disbursement System (MDS) checks which are
issued by the government agencies that are chargeable against the
account of the Bureau of Treasury and the Commercial Checks which are
chargeable against the Agency Checking Account with government
servicing banks. My take away also in this chapter is that disburse shall be
covered by Disbursement vouchers or petty cash voucher or a payroll. And
that disbursement system involves the preparation and processing of
disbursement voucher, preparation and issuance of check, payment of
cash, granting, utilization and liquidation/replenishment of cash advances.
And that there are more about disbursement that we must learn in able to
have better cash management specially if we are aiming the field of
government accounting in the future.