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Privatization in the Philippines occurred in three waves: The first wave in 1986–1987, the second during 1990 and the third stage, which is presently taking place. [16] The government's privatization program is handled by the inter-agency Privatization Council and the Privatization and Management Office, a sub-branch of the Department of Finance.
Fund accounting is an accounting system for recording resources whose use has been limited by the donor, grant authority, governing agency, or other individuals or organisations or by law. [1] It emphasizes accountability rather than profitability , and is used by nonprofit organizations and by governments.
The Commission on Audit (COA; Filipino: Komisyon sa Awdit [2]) is an independent constitutional commission established by the Constitution of the Philippines.It has the primary function to examine, audit and settle all accounts and expenditures of the funds and properties of the Philippine government.
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
National accounts or national account systems (NAS) are the implementation of complete and consistent accounting techniques for measuring the economic activity of a nation. These include detailed underlying measures that rely on double-entry accounting. By design, such accounting makes the totals on both sides of an account equal even though ...
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The governmental accounting system sometimes uses the historic system of fund accounting. A set of separate, self-balancing accounts are responsible for managing resources that are assigned to specific purposes based on regulations and limitations.
One glance at Filipino social media and you will find a recurrent set of waves, twists and inverted heart shapes.