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PP SAS SUMMARY1 PP SAS 1 Presentation of FS Objective To set overall considerations for the: PresentationStructureMinimum content of Financial StatementsSalient Features Accrual basis except for transactions

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How to fill out ppsas summary

01

Step 1: Gather all the necessary financial information such as balance sheets, income statements, cash flow statements, and other relevant documents.

02

Step 2: Understand the PPSAS summary form and its sections. Familiarize yourself with the information required in each section.

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Step 3: Start filling out the form by providing the required general information such as the name of the reporting entity, reporting date, and other relevant details.

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Step 4: Proceed to the section for balance sheet information. Enter the assets, liabilities, and equity details accurately.

05

Step 5: Move on to the income statement section and enter the revenue and expense information correctly.

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Step 6: Complete the cash flow statement section by providing cash inflow and outflow details from operating, investing, and financing activities.

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Step 7: Review all the entered information for accuracy and completeness.

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Step 8: Sign and date the PPSAS summary form as required.

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Step 9: Submit the filled-out PPSAS summary to the appropriate authority or department.

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Step 10: Keep a copy of the submitted form for your records.

Who needs ppsas summary?

01

Government agencies and departments that follow the Philippine Public Sector Accounting Standards (PPSAS) need to prepare and submit PPSAS summary.

02

Public sector entities such as government-owned and controlled corporations (GOCCs), government financial institutions (GFIs), and local government units (LGUs) need to comply with PPSAS and prepare the summary.

03

Financial auditors and accountants who work with public sector organizations may also need to understand and utilize the PPSAS summary.

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What is ppsas summary?

PPSAS summary is a financial report that summarizes the financial performance and position of an entity based on the Philippine Public Sector Accounting Standards.

Who is required to file ppsas summary?

Government agencies and government-owned or controlled corporations (GOCCs) are required to file PPSAS summary.

How to fill out ppsas summary?

PPSAS summary is filled out by presenting the financial statements such as the statement of financial position, statement of financial performance, and notes to the financial statements in accordance with the PPSAS.

What is the purpose of ppsas summary?

The purpose of PPSAS summary is to provide users with a summary of an entity's financial performance and position in order to make informed decisions.

What information must be reported on ppsas summary?

Information such as assets, liabilities, equity, revenues, expenses, and other relevant financial data must be reported on PPSAS summary.

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