FD LAC Session

The _______________provides the Regional Office and Schools Division Offices accurate and timely financial advice, information, and service to ensure equitable allocation, judicious spending and efficient utilization of fiscal resources.

• Accounting Section

• Budget Section

• Commission on Audit

• Finance Division

The Finance Division has ______ Key Result Areas (KRAs).

• 5

• 6

• 7

• 4

To facilitate claims, payments, and reimbursement of expenditures and transfer of funds within the prescribed timelines in under what KRA?

• Financial Management

• Budget Preparation

• Financial Management

• Mobilization and Utilization of Financial Resources

1.______ involves the review of the proposed National Expenditure Program and enactment into law as General Appropriation Act.

• Budget Preparation Phase

• Budget Accountability Phase

• Budget Execution Phase

• a.Budget Legislation Phase

. To ensure RO Functional Divisions (FDs) and SDOs comply with financial management policies and procedures through regular is under what KRA?

• FInancial Accountability and Reporting

• Financial Managemet

• Office Administration and Performance Management

• Budget Preparation

Is an authorization issued by the DBM to NGAs to incur obligations for specified amounts contained in a legislative appropriation in the form of budget release document.

• NTA

• Allotment

• NCA

• Allocation

The Finance Division has how many main processes?

• 4

• 3

• 2

• 1

There are a total of ____ sub-processes for Accounting Section, and ______ sub-processes for the Budget Section

• 5 and 3

• 3 and 5

• 5 and 2

• 2 and 5

The specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial statements.

• Accounting Procedures

• Accounting Guidelines

• Accounting Policies

• Accounting Practices

The authorization made by a legislative body to allocate funds for purposes specified by the legislative or similar authority.

• Allotment

• Appropriation

• Sub-ARO

• Disbursement