Name: SOPHIA D.
GABUAT
Section: CBET-01-601P
Reflection on the Development of Government Accounting
1. Why is there a need for change in accounting for government transactions?
As what Prof. Macrina Vicente Mutuc (Ma’am Vm), that government entities are not as
same as these profit oriented entities but have a role that very important, as they account for the
fund receive and present how they have been spent. And, through the government accounting it
helps manage and prevent any waste (particularly in money) in government services and
establish a balance in expenditure by managing government assets and resources in efficient
ways. However, as time passes, government’s area of operation continuously expanding and
increases which obviously needs a change and innovations such example is the government
accounting system that base on Arslan, as the government expand it is not enough to just have a
cash basis system because it will start to lack parts and insufficiency; by this a development arise
which applies a new regulations which is the accrual basis. As the economic boundaries are
continuously remove through globalization, it brought also continues revision and reconstruction
of government transaction. Changes in the concept and perception of government, changes in the
quality of goods and services, changes in government economy and changes in government
budget systems are just a few reasons why our government transactions need a change.
2. As a scholar of the government, why do you need to take learning government
accounting seriously?
As a beneficial of the free tuition fee project of the government, as a citizen of the
Philippines and most importantly as a child of a taxpayers (and also as taxpayer itself), I am
entitled to see how government is spending our money. It is not just for accountants,
professionals or government officials but most likely a responsibility of each of the Filipino
citizens. A basic knowledge about government accounting will not be bad, because we must
all be held accountable. That it is not wrong to have knowledge. That knowledge is power,
specially that some of this power have been use by these greedy officials for their own
benefits. So, learning government accounting and how the budget have been done and the
phases may help us understand where our money spent by. It will enlighten us on how the
government currently assessing and uses our resources (if the money we pay in taxes are
accounted properly).
3. Would you consider being a government accountant? Why?
I am open for this opportunity if it may happen in the future. I also wanted to be in a
government because I wanted to understand and brings a different approach. As I seen corruption
and understand what does “powers” means in a real life, I have said that if given an opportunity
then I will grab it not just for my own benefits but I also want to help, learn and understand more
about my society; that how this millions or trillions of money have been spent. I also want to
know how people handling this and I wanted to ensure that transparency are been done. As to
become a government accounting, I might need not just a bachelor’s degree in accounting but
also have master’s degrees in accounting, taxation, finance, business administration (MBA) or
another subject that is closely related to accounting and finance. Some employers have gone so
far as to require an MBA with a concentration in accounting, a master of science in accounting or
a master of science in taxation. But, I am not discouraged by this because I believe in law of
attraction. Well, wish us luck.
