The new government accounting system (NGAS) is the shift to new accounting procedures in order to facilitate the process of recording system, and expand a range of users who can use and understand the accounting system.

The important features and policies of the new government accounting system comprise of the following

1. Accrual basis of accounting system (all expenses shall be recognized when incurred)
2. Adoption of one-fund concepts
3. A new coding structure wit a three-digit account numbering system shall be adopted
4. All national agencies shall maintain two sets of books, regular agency books and national government books, (National Treasury)
5. Financial statements books
6. Us of two money column trial balance
7. Allotment and obligations accounts (Registry allotments)
8. Notice of cash allocation
9. Financial expenses
10. Depreciation, accounting for borrowing and loans, recognition of liability
11. Elimination from contingent accounts
12. Registry of public infrastructure
13. Allowance for doubtful accounts
14. Recognition of liability
15. Interest accrual
16. Contingent accounts
17. Corollary or negative entries

Petty cash fund shall be maintained under the Impress system. As such, all replenishments shall be directly charged to the expense account and at all times.

What is a national budget?

The national budget is the government's estimate of its income and expenditure, it is what the government plans to spend for its programs and projects, and where the money will come from. It is based on what the government thinks it will spend during the year. They're the sources of what it hopes to have as funds either from revenues or from borrowing with which to finance such expenditure.

National budgets are allocated for the implementation of various programs and projects, operation of government offices, payment of salaries of government employees, and payment of public debts among others.

The basic laws, rules (conforming to general accounting standards and priciples) with accompanying manuals are written in the book in detail; and for the easy use of student, academe, offices, government and the general public.

Finally, Filipinos hope that public officers are accountable for the resources entrusted to them, and must justify every voucher and receipt with honesty.

If everyone would help each other and be fair in dealings, accounting will not be a problem; because only a few audit would be required and dealings even with just the name and identification of payer, payee, parties concerned (with ordinary documents needed), signed would prove authentic and undoubted.