Barangay Accounting Plan

The barangay accounting plan shows the functional work flow of barangay from budgeting, implementation of programs and projects, payment up to preparation of financial statements.

• True

• False

The financial statements of barangays include : Statement of Financial Position, Statement of Financial Performance, Statement of Changes in Net Assets/Equity, Statement of Cash Flows, Statement of Appropriations and Obligations ,and Notes to Financial Statements.

• True

• False

In the Barangay Accounting Work Plan, collections and deposits, disbursements are recorded in the cashbook of the Barangay Treasurer.

• True

• False

The appropriations and obligations of the barangay are recorded in the Record of Appropriations and Obligations.

• True

• False

Collections and deposits and collections and remittances are reported in the Report of Collections and Deposit only.

• True

• False

Cash transactions are recorded in the Journal of Cash Transactions.

• True

• False

Payment of contractors for refund of overpayment for contracts are recorded in the Journal of Cash Transactions.

• True

• False

Adjusting entries for stale checks and checks issued in lieu of the stale check are recorded in the General Journal.

• True

• False

As a general rule, Miscellaneous transactions are recorded in the General Journal.

• True

• False

All transactions whether cash or non-cash are recorded in the General Ledger.

• True

• False