Ministry of Finance

Ministry of Finance

Ministry of Finance – This ministry is under Finance Minister  – Finance Ministry

Ministry of Finance – Ministry of Finance is a fund ministry of all Ministries and Department and organizations. This Ministry control all kinds of finance and Budgeted Expense. Finance department can ask any query to any department. This is government revenue issue which is vital to finance department.

Budget DATA-Budget control is main challenge to government. Now Bangladesh Government uses some internet based software to accounting and budgets. iBAS++ is integrated budget and accounting system for government employee pay bill submission and budget preparation. BACS All Segment is Budget and Accounting Classification System which is another tool of government.

Budget and Accounting Classification System (BACS) is a logical accounting structure through which financial transactions, including budgets, are posted, stored, maintained, and reported upon.

Budget and Accounting Classification System (BACS)

Classification of Functions of Government (COFOG) / Government Financial Statistics (GFS)

Ministry of Finance

Caption: Ministry of Finance / https://mof.portal.gov.bd

Budget DATA Digital tools of Finance Ministry

  1. Bill Submission User Manual v3.
  2. iBAS++ User Registration Form v3.
  3. Budget & Accounting Classification Manual.
  4. User Manual Budget Execution(Non-Development).
  5. User Manual Budget Execution(Development).
  6. Budget and Accounting Classification System (New)
  7. iBAS++ Brochure (English)
  8. iBAS++ USER Manual (Budget Circular-1).
  9. Operational Unit Wise Classification Chart (Old)
  10. Economic Code Wise Classification Chart (Old)
  11. Organisation Segments was updated on 10.11.2020
  12. Operational Segments was updated on 10.11.2020
  13. Fund Segments was updated on 10.11.2020
  14. Economic Segments was updated on 10.11.2020
  15. Mode of Financing Segments was updated on 10.11.2020
  16. Location Segments was updated on 10.11.2020
  17. Authorization Segments was updated on 10.11.2020
  18. COFOG Segments was updated on 10.11.2020
  19. Budget Sector Segments was updated on 10.11.2020

What is BACS?

Budget and Accounting Classification System (BACS) is a logical accounting structure through which financial transactions, including budgets, are posted, stored, maintained, and reported upon.

It is a core element in the financial management system as it enables transactions with similar characteristics to be grouped together for budget planning, accounting, control, and reporting purposes. BACS will support the uniform introduction of double-entry accounting.

Whilst, initially, the BACS will be used to report government finances on a modified cash-basis, it has been formulated to enable the future transition to full accrual accounting.

The BACS will support better public financial management in Bangladesh by providing additional and better quality information to decision-makers regarding public finances.

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