Pre-Test in Write-Off of Accounts

It is the process of removing a previously recognized asset, liability or equity account/s from the statement of financial position.

• Writing-off

• Derecognition

• Condonation

• Writing-down

The following are the accounts that can be written-off except:

• Accounts Receivables

• Due from Officers and Employees

• Inventories

• Receivables arising from disallowances and charges

The following are the accounts that cannot be written-off, except:

• Receivables arising from cash shortages

• Accounts Payable, unliquidated obligations

• Investments

• PPEs

________________________________ shall determine the cause/s of loss or destruction of documents, pinpoint the official/s and employee/s liable for such loss, and look in to the absence or presence of negligence on the part of the Accountable Officer.

• Head of Agency

• Head of Accounting

• ATL and SA/RSA

• Investigation Committee

The following are the key factors to consider in creating the Investigation Committee, except:

• Independence

• Relevance

• Integrity

• Timeliness

The ATL and SA/RSA concerned shall verify and validate the documents submitted and act on the requests to derecognize from the books for amounts not exceeding P100,000.00 per account, per subsidiary ledger or per item, per fund, per government entity with in ____ working days from receipt thereof

• 10

• 15

• 20

• 25

In case the basis for denial of the request by the ATL and SA is failure to comply with the conditions and requirements set forth in the Circular, what will be the remedy of the requesting party?

• File an appeal before the Cluster Director or Regional Director, as the case may be

• File an appeal before the Commission Proper

• File a motion for reconsideration before the ATL and SA/RSA

• No remedy since the decision of the ATL and SA/RSA is final and non-appealable

For amounts exceeding P100,000.00 but not more than P1,000,000.00, in case the motion for reconsideration is denied by the CD or RD, what will be the remedy of the requesting party as far as COA is concerned?

• File an appeal before the Assistant Commissioner of the concerned sector

• File an appeal before the Commission Proper

• No remedy since the decision of the CD/RD is final and non-appealable

• None of the above

For amounts exceeding P1,000,000.00 per account, per subsidiary ledger or per item, per fund, per government entity, the CD/RD shall forward the entire records of the requests together with his/her recommendation to the ______________________ within 15 working days from receipt thereof

• Commission Proper

• Assistant Commissioner of the concerned sector

• Commission Secretariat

• Prosecution and Litigation Office

Registry used to record and monitor accounts that were written-off by the agency/entity maintained per account and by fund cluster/fund.

• Registry of Derecognized Dormant Accounts

• Registry of Dormant Accounts

• Registry of Accounts Written-Off

• Registry of Requests for Disposition of Dormant Accounts