Pulic Sector Acc

8/11/2019 Pulic Sector Acc

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01.Assume you are the accountant in department of ABC & the department head asked you

to prepare department impresets application for the year 2014

Following information are given

a)

According to 2014 budget Annual estimate provision to department of Agriculture asfollows

Consolidated fund Foreign aid loan Foreign aid grant

Administrative

service

Rs. 800 Mn Rs. 400 Mn Rs. 450 Mn

Economic service

Rs. 480 Mn Rs. 350 Mn Rs. 250 Mn

b) It had been estimated Rs. 600 Mn for basic salaries and it included in administrative

expenditure

c) Total construction expenditure have been estimated 50% of economic service and It is

expected to retain 10% on construction under the economic service activities

d)

It is expected to allocate Rs. 300 Mn for other department as follows

Department of

agriculture

Department of

register general

Department of

examination

Source of fund

Foreign aid loan Rs. 50 Mn Rs. 25 Mn Rs. 25 Mn

Reimbursable

foreign aids

Rs. 150 Mn Rs. 25 Mn Rs. 25 Mn

e)

Folwing Details of allocation from other departments to the department of ABC

Department of

agriculture

Department of

Publication

Source of fund

Foreign aid loan Rs. 30 Mn Rs. 50 Mn

Reimbursable foreign

aids

Rs. 50 Mn Rs. 25 Mn

Counterpart Funds Rs. 80 Mn Rs. 50 Mn


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02. According to books of department Register general following information are relevant to

for the month of January 2014

01)

impresets receiving from the treasury Rs. 500 Mn.

02)

Department of Agriculture had paid this department Rs. 2 Mn for carried out their

work

03)following expenditure relevant to month of January

Salaries and wages Rs.200Mn

Office consumables Rs.20Mn

Over time payments Rs.6Mn

Travelling claims Rs.3.5Mn

Purchasing of office equipment Rs.05Mn

Purchasing of motor vehicle Rs.30Mn

Office tools Rs.04Mn

Payment under public officer advance account Rs.40Mn

04)Following sub impresets are issued during the month.

Person Purpose Amount (Rs)

A ad hoc 20,000

B Stores 200,000

C Petty cash 7,500

D Foreign traveling 500,000

05)Summaries of salaries and wages as follows

Basic salaries Rs.152Mn

Cost of living allowance Rs.40Mn

Other allowance Rs.08Mn

Gross salary Rs.200Mn

Deductions

W. & O.P Rs.2Mn

Public officer advance Rs.10Mn


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Public officer advance interest Rs.3 Mn

Housing rents Rs.3 Mn

Total deduction Rs.18Mn

Net salary Rs.182Mn

Summary of the cheque payments

Shroff of the department Rs.120Mn

Peoples bank Rs. 30Mn

Bank of Ceylon Rs. 20Mn

National saving bank Rs. 12Mn

Rs.182Mn

06)During the month following revenue and cash inflows were earned by the department.

disposal of fixed assets Rs.8Mn

sales of old materials Rs.5Mn

receiving deposit Rs.3 Mn

07)During the month sub impresets were settled as follows

Mr. A Mr. D

By cash 6,000 20,000

By bills 14,000 480,000

20,000 500,000

You are required to:

a)

Record above transaction in the department cash book

b)

Prepare monthly summary of January 2014

(Total 25 marks)

03.


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a) . According to the No. 03 of Financial Regulations, what are the required steps in planningand implementing a project?

(3 Marks)

b) What are the provisions in the constitution to make the parliament in total control of

government finance?

(3 Marks)

c) . What is meant by the Commission of public Accounting (COPA)? Mention its duties andstate on how its operations affect the government financial control.

(04 Marks)

(Total 10 marks)

04.

a). According to the No. 102 What are the things include as losses ? How should the chief

accounting officer act when losses occur ?

(10Marks)b). Suppose that your office needs to purchase furniture worth of Rs. 500,000. From the purchase ofthis furniture to the settlement of payment, what are the procedures that each officer on duty shouldimplement?

( 10Marks)

c). The procurement is a procedure where there can be frauds in the government sector. Therefore the

procurement procedure needs an intense internal control. Explain the specific internal control

procedures of procurement that you can see in the government sector.

(10 Marks)

(Total 30 marks)

05. Write short notes on following.

a)

F.R.19. Special Law Services.

b)

F.R. 66 Transfer of Financial Provision Virement Procedure

c)

F.R.90. Warrants

d) F.R.105 (1) The Maximum Recoverable Value of loss

e) Statutory waivers

(Total 15 marks)


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Pulic Sector Acc

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