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Financial Statements

Financial statements and their supporting schedules are the products of the government accounting processes. These are the principal comprehensive means by which the information accumulated and processed in the state accounting system is periodically communicated to those who use them.

1. Trial Balance. A statement maintained and updated by the Provincial Accountant's Office (PAccO) that shows the equality of debit and credit balances of all general ledger accounts as of a givern period.Prepared monthly, quarterly and annually. At the end of the fiscal year, the preclosing and the postclosing trial balances are prepared. Used as financial information. Available at the PAccO in hard copy.

2. Balance Sheet. A formal statement maintained and updated by the Provincial Accountant's Office (PAccO) that shows the financial condition of the provincial government of Bohol as of a certain date. Includes information on the three elements of financial position ? assets, liabilities and government equity. Prepared from information taken directly from the monthly preclosing trial balance or the yearend postclosing trial balance. Available at the PAccO in hard copy.

3. Statement of Income and Expenses. A statement maintained and updated by the Provincial Accountant's Office (PAccO) that shows the results of operation/performance of the provincial government of Bohol at the end of a particular period. Prepared by PAccO from information taken directly from the preclosing trial balance Available at the PAccO in hard copy.

4. Statement of Cash Flows. A statement maintained and updated by the Provincial Accountant's Office (PAccO) that summarizes all the cash activities of the provincial government of Bohol. Includes the operating, investing and financing activities of the entity and provides information on the cash receipts and cash payments during the period. Gives relevant information on the provincial government's overall cash position, liquidity and solvency. Using the Statement of Cash Flows, managers, investors and creditors are able to assess the provincial government's ability to meet its obligations. Available at the PAccO in hard copy.

5. Statement of Government Equity. A statement maintained and updated by the Provincial Accountant's Office (PAccO) that shows the financial transactions that resulted in the change in government equity account at the end of the year. Available at the PAccO in hard copy.

 

 

Contact Ms. Joseth J. Celocia , Provincial Accountant
Provincial Accountant's Office,
2/F Capitol Compound, Tagbilaran City, Bohol 6300
Telephone +63 (38) 411-3444, 411-5861 or 501-9735