Natl NGAS Ch1 to 3 Vol3

Tne New Government Accounting System Manual for National Government Agencies

THE MANUAL ON THE

NEW GOVERNMENT ACCOUNTING SYSTEM

for National Government Agencies

THE CHART OF ACCOUNTS

VOLUME III

Chapter 1. INTRODUCTION

Sec. 1. Definition. The Chart of Accounts provides the framework within which the accounting records are constructed. It is defined as a list of general ledger accounts consisting of real and nominal accounts.

Sec. 2. Rationale. The Chart of Accounts is prescribed for use by all national government agencies and local government units. The descriptions of all the accounts and the instructions as to when these are to be debited and credited are provided to achieve uniformity in the recording of government financial transactions.

Sec. 3. Elements of Financial Statements. Elements of financial statements of government agencies are those elements that relate to the status or measurement of financial position and measurement of performance of government agencies, which are relevant to decisions that would require the commitment of resources. Those elements directly related to the measurement of financial position as shown in the Balance Sheet are assets, liabilities and equity. The elements directly related to the measurement of performance which are shown in the Statement of Income and Expenses are revenue/income and expenses. The definitions of the different elements are as follows:

a. Assets economic resources of an agency that are recognized and measured in conformity with generally accepted accounting principles. Assets also include certain deferred charges that are not resources but that are recognized and measured in conformity with generally accepted accounting principles.

b. Liabilities economic obligations of an agency that are recognized and measured in conformity with generally accepted accounting principles. Liabilities also include certain deferred credits that are not obligations but that are recognized and measured in conformity with generally accepted accounting principles.

c. Equity residual interest of the government in an agency which is the excess of the agencys assets over its liabilities.

d. Revenue/Income increase in economic benefits during the accounting period in the form of inflows or enhancements of assets or decrease of liabilities that results in increases in equity.

e. Expenses decrease in economic benefits during an accounting period in the form of outflows or depletions of assets or incurrence of liabilities that results in decreases in equity.

Sec. 4. Balance Sheet Accounts. The balance sheet accounts consist of assets, liabilities and equity. These are classified into the following:

Assets -

Current Assets

Cash

Receivables

Marketable Securities

Inventories

Prepaid Expenses

Other Current Assets

Long-Term Investments

Property, Plant and Equipment

Other Assets

Liabilities -

Current Liabilities

Long-Term Liabilities

Other Liabilities

Equity -

Government EquitySec. 5. Revenue/Income and Expense Accounts. The revenue/income and expenses consist of the following:

Revenue/Income

General Income Accounts

Specific Income Accounts

Expenses

Personal Services

Maintenance and Other Operating Expenses

Financial Expenses

Sec. 6. Classification of Revenue/Income. The revenue/ income accounts are classified into:

a. General Income Accounts - This account classification encompasses all types of revenue/income generated by government agencies in the exercise of their administrative and regulatory function, income from public enterprises/investments, and income from grants and donations including subsidies.

b. Specific Income Accounts - This account classification encompasses all taxes imposed on taxable income, properties, and use or sale of goods and services, taxes on international trade and transactions and other taxes including fines and penalties. Also included under these accounts are income generated from local government, schools and hospital operations.

Income realized/collected for which the agency is authorized to use but required to be remitted to the National Treasury shall be recorded under the Regular Agency (RA) books. A receivable account, Due from National Treasury, shall be debited upon remittance to the account of the Treasurer of the Philippines and the same account shall be credited upon receipt of the Notice of Cash Allocation issued by the DBM. At the end of the year, the income account shall be closed to the Income and Expense Summary account. Likewise, income collected and deposited under the agencies accounts with AGDBs, as authorized, shall be recorded in the RA books.

Those income realized/collected for the National Government (NG) and for which the agency is not authorized to use shall be recorded under the NG books maintained by the agency. A liability account, Due to National Treasury, shall be set up upon accrual/collection and the same account shall be debited upon remittance to the National Treasury.

The illustrative accounting entries relative to the use of the income accounts and related receivable/payable account are shown in Chapter 7, Volume I of the Manual.

Sec. 7. Classification of Expenses. The expense accounts are classified into:

a. Personal Services (PS) - These accounts include basic pay, all authorized allowances, bonus, cash gifts, incentives and other personnel benefits of officials and employees of the government.

b. Maintenance and Other Operating Expenses (MOOE) - These accounts include expenses necessary for the regular operations of an agency like, among others, traveling expenses, training and seminar expenses, water, electricity, supplies expense, maintenance of property, plant and equipment, and other maintenance and operating expenses.

c. Financial Expenses (FE) - These accounts include bank charges, interest expense, commitment charges, documentary stamp expense and other financial charges. It also includes losses incurred relative to foreign exchange transactions and debt service subsidy to GOCCs.

Sec. 8. Intermediate Accounts. These are accounts which are closed ultimately to the Government Equity account at the end of the accounting period. These include Cost of Goods Sold, Income and Expense Summary, Prior Years Adjustments, Retained Operating Surplus, Subsidy to Regional Offices/Staff Bureaus and Subsidy to Operating Units, among others.

Sec. 9. Account Codes. The Chart of Accounts consists of three-digit codes grouped as follows:

AccountsAccount Codes

Assets100-299

Asset Contra Accounts300-399

Liabilities400-499

Equity500-599

Revenue/Income600-799

General Income Accounts600-699

Specific Income Accounts700-799

Expenses800-960

Personal Services 801-830

Maintenance and Other831-950

Operating Expenses

Financial Expenses951-960

Chapter 2. THE CHART OF ACCOUNTS

Sec. 10. The Chart of Accounts. The Chart of Accounts is prescribed for use of the national government agencies and local government units.

CHART OF ACCOUNTS

Account Code Account Title

ASSETS

Current Assets

Cash

101 Cash in Treasury

102 Cash National Treasury, Modified Disbursement System (MDS)

103 Cash Bangko Sentral ng Pilipinas

105 Petty Cash Fund

106 Cash Collecting Officers

107 Cash Disbursing Officers

110 Cash in Bank Local Currency, Current Account

111 Cash in Bank Local Currency, Savings Account

112 Cash in Bank Local Currency, Time Deposits

113 Cash in Bank Foreign Currency, Current Account

114 Cash in Bank Foreign Currency, Savings Account

115 Cash in Bank Foreign Currency, Time Deposits

Receivables

121 Accounts Receivable

122 Notes Receivable

123 Loans Receivable, Current

124 *(Real Property Tax Receivable

125 (*Special Education Tax Receivable

126Interests Receivable

127 **Currency Swap Receivable

128Due from Officers and Employees

129 *Due from Other Funds

130 Due from NGAs

131Due from LGUs

132 Due from GOCCs

133 Due from NGOs/POs

134 Due from National Treasury

135Due from Central Office

136Due from Regional Offices/Staff Bureaus

137Due from Operating Units

138Receivables Disallowances/Charges

139Other Receivables

301 Allowance for Doubtful Accounts

Marketable Securities

140Treasury Bills

141 *Stocks

142 *Bonds

143Other Marketable Securities

(

Inventories

144 Raw Materials Inventory

145 Work-In-Process Inventory

146 Finished Goods Inventory

147 Merchandise Inventory

148 Accountable Forms Inventory

149 Office Supplies Inventory

150 Medical, Dental and Laboratory Supplies Inventory

151 Food/Non-food Supplies Inventory

152 Gasoline, (Oil and Lubricants Inventory

153 Agricultural Supplies Inventory

154 Livestock and Crops Inventory

155 Spare Parts Inventory

156 Construction Materials Inventory

157 Other Agricultural Products Inventory

158 Confiscated Goods Inventory

160Other Inventory Items

Prepaid Expenses

161 Prepaid Rent

162 Prepaid Insurance

164Prepaid Interest

165Other Prepaid Expenses

Other Current Assets

166Guaranty Deposits

167Deposits on Letters of Credit

168Advances to Contractors

170Other Current Assets

Long - Term Investments

171 Loans Receivable Long-Term, LGUs

172 Loans Receivable Long-Term, GOCCs

173 Loans Receivable Long-Term, Others

174 Investments in Stocks

175 Investments in Bonds

176 Investments in GOCCs

177 Sinking Fund Cash

178 Sinking Fund Securities

179 Other Long-Term Investments

Property, Plant and Equipment

201 Land

202 Land Improvements

302 Accumulated Depreciation Land Improvements

203 Leasehold Improvements

303 Accumulated Depreciation Leasehold Improvements

204 Buildings

304 Accumulated Depreciation Buildings

205 School Buildings

305 Accumulated Depreciation School Buildings

206 Markets and Slaughterhouses

306 Accumulated Depreciation Markets and Slaughterhouses

207 Hospitals and Health Centers

307 Accumulated Depreciation Hospitals and Health Centers

208 Other Structures

308 Accumulated Depreciation Other Structures

209 Industrial Machineries

309 Accumulated Depreciation Industrial Machineries

210 Other Machineries

310 Accumulated Depreciation Other Machineries

211 Firefighting Equipment and Accessories

311 Accumulated Depreciation Firefighting Equipment and Accessories

212 Construction and Heavy Equipment

312 Accumulated Depreciation Construction and Heavy Equipment

214 Technical and Scientific Equipment

314 Accumulated Depreciation Technical and Scientific Equipment

215 IT Equipment and Software

315 Accumulated Depreciation I T Equipment

216 Telegraph, Telephone, Cable, TV and Radio Equipment

316 Accumulated Depreciation Telegraph, Telephone, Cable, TV and Radio Equipment

217 Artesian Wells, Reservoirs, Pumping Stations and Conduits

317 Accumulated Depreciation Artesian Wells, Reservoirs, Pumping Stations and Conduits

218 Motor Vehicles

318 Accumulated Depreciation Motor Vehicles

219 Watercrafts

319 Accumulated Depreciation Watercrafts

220 Trains

320 Accumulated Depreciation Trains

221 Aircrafts/Aircraft Ground Equipment

321 Accumulated Depreciation Aircrafts/Aircraft Ground Equipment

222 Office Equipment

322 Accumulated Depreciation Office Equipment

223 Other Equipment

323 Accumulated Depreciation Other Equipment

224 Furniture and Fixtures

324 Accumulated Depreciation Furniture and Fixtures

225 Ordnance

325 Accumulated Depreciation Ordnance

226 Books

326 Accumulated Depreciation Books

227 Other Property, Plant and Equipment

327 Accumulated Depreciation Other Property, Plant

and Equipment

228Work/Other Animals

229Breeding Stocks

230Construction in Progress Agency Assets

231Construction in Progress Plaza, Parks and Monuments

232Construction in Progress Roads, Highways and Bridges

233Construction in Progress Ports, Lighthouses, Harbors, Seawalls, River Walls and Others

234Construction in Progress Airports and Runways

235Construction in Progress Railways

236Construction in Progress Waterways, Aqueducts, etc.

237Construction in Progress Irrigation, Canals and Laterals

238Construction in Progress Electrification, Power and Energy Structures

241Construction in Progress Other Public Infrastructures

242Construction in Progress Reforestation Projects

243 Public Infrastructures

244Reforestation Projects

245Arts, Archeological Specimen and Other Exhibits

249Items in Transit

Other Assets

251Other Assets

LIABILITIES AND EQUITY

LIABILITIES

Current Liabilities

401 Accounts Payable

402 Notes Payable

403 Loans Payable Current, Domestic

404 Loans Payable Current, Foreign

406 Interests Payable

407 Tax Refunds Payable

408 Guaranty Deposits Payable

409 Tax Credit Certificates Payable

410 Withholding Taxes Payable

411 GSIS Payable

412 PAG-IBIG Payable

413 PHILHEALTH Payable

414 Performance/Bidders/Bail Bonds Payable

427 **Currency Swap Payable

428 Due to Officers and Employees

429 *Due to Other Funds

430 Due to NGAs

431 Due to LGUs

432 Due to GOCCs

433 Due to National Treasury

435(Due to Central Office

436Due to Regional Offices/Staff Bureaus

437Due to Operating Units

439Retirement Gratuity Benefits Payable

440Deferred Credits to Income

441Other Deferred Credits

448 *Deferred Real Property Tax Income

449 *Deferred Special Education Tax Income

450Other Payables

Long -Term Liabilities

451 Loans Payable Long-Term, Domestic

452 Loans Payable Long-Term, Foreign

453 (Mortgage Payable

454 Bonds Payable Long-Term, Domestic

455 Bonds Payable Long-Term, Foreign

46Other Long-Term Liabilities

Other Liabilities

465Other Liabilities

EQUITY

501 Government Equity

502 *Project Equity

Intermediate Accounts

531 Cost of Goods Sold

532 Income and Expense Summary

533 Prior Years Adjustments

534 Retained Operating Surplus

537 *Invested Equity

538Subsidy to Regional Offices/Staff Bureaus

539Subsidy to Operating Units

540 Gain or Loss Due to Dormant Accounts

REVENUE/INCOME

General Income

601 Subsidy Income from National Government

602 Subsidy from Central Office

603 Subsidy from Regional Office/Staff Bureau

604 *Subsidy from Other LGUs

605 *Subsidy from Other Funds

606 *Subsidy from Special Accounts

611Income from Government Services

612Income from Government Business Operations

613Sales Revenue

621Rent Income

622Insurance Income

623Dividend Income

624Interest Income

625 Gain on Sale of Securities

626 Gain on Sale of Assets

627 Sale of Confiscated Goods and Properties

628 Foreign Exchange (FOREX) Gain

639Miscellaneous Operating and Service Income

641Fines and Penalties Government Services and Business Operations

651Income from Grants and Donations

Specific Income

Tax Revenue

Income Taxes

701Income Tax Individuals

702Income Tax Partnerships

703Income Tax Corporations

Property Taxes

711 *Real Property Tax

712 *Property Transfer Tax

713 *Special Education Tax

714 *Special Assessment Tax

715 *Real Property Tax on Idle Lands

716 Stock Transfers Tax

717Capital Gains Tax

718Donors Tax

719Estate Tax

Taxes on Goods and Services

721Excise Taxes on Articles

722Value Added Tax

723Business Taxes and Licenses

724 Franchise Tax

725 ** Professional Tax

726 **Occupation Tax

727 ** Printing and Publication Tax

735 Miscellaneous Taxes on Goods and Services

Taxes on International Trade and Transactions

736 Import Duties

Other Taxes

741 Documentary Stamp Tax

742 *Community Tax

743 *Science Stamp Tax

745 *Weights and Measures

746 *Share from Internal Revenue Collections

747 *Share from Tobacco Excise Tax

748 *Share from Economic Zones

749 * Shares from Expanded Value Added Tax (EVAT)

750 * Share from National Wealth

751 * Amusement Tax

752 *Sand and Gravel Tax

753 *Tax on Delivery Trucks and Vans

754Tax on Forest Products

755Immigration Taxes

759 Miscellaneous Other Taxes

760 Fines and Penalties Tax Revenue

Other Specific Income

761Registration Fees

762Tuition/Affiliation Fees

763Hospital Fees

764 Medical, Dental and Laboratory Fees

765 Library Fees

766 Athletic and Cultural Fees

767 Comprehensive Examination Fees

768 Transcript of Records Fees

769 Diploma and Graduation Fees

770 Inspection Fees

771 Permit Fees

772 * Garbage Fees

773 Clearance/Certification Fees

774 Franchising/Licensing Fees

775 *Fishery Rentals, Fees and Charges

776 Printing and Publication Income

777Income from Canteen Operations

778Income from Dormitory Operations

779 *Receipts from Lease of Properties

780Receipts from( Communication Facilities

781 * Receipts from Waterworks Systems

782 * Receipts from Transportation Systems

783 * Receipts from Markets

784 * Receipts from Slaughterhouses

785 *Receipts from Cemeteries

786 Toll Fees

787 Landing and Parking Fees

788 Other Income from School Services

789 Other Income from School Business Operations

790 Other Income from Hospital Services

791 Other Income from Hospital Business Operations

792 * Other Specific Income of LGUs

799 Fines and Penalties Other Specific Income

EXPENSES

Personal Services

801 Salaries and Wages Regular Pay

802 Salaries and Wages Part Time Pay

803 Salaries and Wages Casual/Contractual

804 Personnel Economic Relief Allowance (PERA)

805 Additional Compensation (ADCOM)

806 Representation Allowance (RA)

807 Transportation Allowance (TA)

808 Clothing Allowance

809 Honoraria

810 Hazard Pay

811 Overtime and Night Pay

812 Holiday Pay

813 Christmas Bonus

814 Cash Gift(

815 Productivity Incentive Benefits

816 Other Bonuses and Allowances

817 Life and Retirement Insurance Contributions

818 PAG-IBIG Contributions

819 PHILHEALTH Contributions

820 ECC Contributions

821 Pension and Retirement Benefits

822 Terminal Leave Benefits

823 Health Workers Benefits

824 Subsistence and Quarters Allowances

825Longevity Pay

830Other Personnel Benefits

Maintenance and Other Operating Expenses

831 Traveling Expenses Local

832 Traveling Expenses Foreign

833 Training and Seminar Expenses

834 Water

835 Electricity

836 Cooking Gas

837 Telephone/Telegraph and Internet

838 Postage and Deliveries

839 Subscription Expenses

840 Advertising Expenses

841 Rent Expenses

842 Insurance Expenses

843 Fidelity Bond Premiums

844 Survey Expenses

845 Storage Expenses

846 Zoological/Animal Maintenance Expenses

847 Printing and Binding Expenses

848 Accountable Forms Expenses

849 Office Supplies Expenses

850 Medical, Dental and Laboratory Supplies Expenses

851 Food/Non-food Expenses

852 Gasoline, Oil and Lubricants Expenses

853 Agricultural Supplies Expenses

854Legal Services

855Auditing Services

856Consultancy Services

857General Services

858Security and Janitorial Services

859Taxes, Duties and Licenses

860Tax Credit Subsidy

861 Tax Exemption Expenses

862 Public Infrastructure Repairs and Maintenance

863 Reforestation Project Maintenance

864 Buildings Maintenance

865 School Buildings Maintenance

866 Markets and Slaughterhouses Maintenance

867 Hospitals and Health Centers Maintenance

868 Other Structures Maintenance

869 Industrial Machineries Maintenance

870 Other Machineries Maintenance

871 Firefighting Equipment and Accessories Maintenance

872 Construction and Heavy Equipment Maintenance

874 Technical and Scientific Equipment Maintenance

875 IT Equipment Maintenance

876 Telegraph, Telephone, Cable, TV and Radio Equipment Maintenance

877 Artesian Wells, Reservoirs, Pumping Stations and Conduits Maintenance

878 Motor Vehicles Maintenance

879 Watercrafts Maintenance

880 Trains Maintenance

881 Aircrafts/Aircraft Ground Equipment Maintenance

882 Office Equipment Maintenance

883 Other Equipment Maintenance

884 Furniture and Fixtures Maintenance

885 Ordnance Maintenance

886 Other Repairs and Maintenance

887 Awards and Indemnities

888 Rewards and Other Claims

889 Grants and Donations

890 Representation Expenses

891 Extraordinary and Miscellaneous Expenses

892 Confidential and Intelligence Expenses

893 Anti-Insurgency/Contingency Expenses

894Subsidy to National Government Agencies

895Subsidy to Local Government Units

896Subsidy to Government Corporations

897 * Subsidy to Other Funds

898 * Subsidy to Special Funds

901Membership Dues to International Institutions

902Depreciation Land Improvements

903Depreciation Leasehold Improvements

904 Depreciation Buildings

905 Depreciation School Buildings

906 Depreciation Markets and Slaughterhouses

907 Depreciation Hospitals and Health Centers

908 Depreciation Other Structures

909 Depreciation Industrial Machineries

910 Depreciation Other Machineries

911 Depreciation Firefighting Equipment and Accessories

912 Depreciation Construction and Heavy Equipment

914 Depreciation Technical and Scientific Equipment

915 Depreciation IT Equipment

916 Depreciation Telegraph, Telephone, Cable, TV and

Radio Equipment

917 Depreciation Artesian Wells, Reservoirs, Pumping Stations and Conduits

918 Depreciation Motor Vehicles

919 Depreciation Watercrafts

920 Depreciation Trains

921 Depreciation Aircrafts/Aircraft Ground Equipment

922 Depreciation Office Equipment

923 Depreciation Other Equipment

924 Depreciation Furniture and Fixtures

925 Depreciation Ordnance

926 Depreciation Books

927Depreciation Other Property, Plant and Equipment

928Obsolescence IT Software

929Bad Debts Expense

937 *Discount on Real Property Tax

938 *Discount on Special Education Tax

947Loss on Sale of Assets

948Loss of Assets

950Other Expenses

Financial Expenses

951 Bank Charges

952 Interest Expenses

953 Commitment Charges

954 Documentary Stamps Expenses

955 Other Financial Charges

956 Foreign Exchange (FOREX) Loss

957Debt Service Subsidy to GOCCs

958Loss on Guaranty

Chapter 3. DESCRIPTION OF ACCOUNTS

Sec. 11. Description of Accounts. Each account in the Chart of Accounts is defined/described. Instructions when to debit and credit the Balance Sheet accounts, Intermediate accounts, Subsidy Income from National Government, Subsidy from Central Office and Subsidy from Regional Office/Staff Bureau are presented.

A S S E T S

Current Assets Cash

Sec. 12. Cash in Treasury (101). This account is used to record collections of the Bureau of the Treasury (BTr) pending deposits.

Debit this account for: Treasuries collections

Credit this account for: Deposits of collection to Bangko Sentral ng Pilipinas or Authorized Government Depository Banks (AGDBs).

Sec. 13. Cash National Treasury, Modified Disbursement System (MDS) (102). This account is used to record in the Regular Agency (RA) books the receipt of Notice of Cash Allocation (NCA) from the Department of Budget and Management (DBM) and the corresponding withdrawals of National Government Agencies (NGAs) against the NCA received thru the issuance of MDS checks, and other modes of disbursements.

Debit this account for:Receipt of NCA from DBM

Receipt of Notice of Transferred Allocation to Agency/Regional Offices (ROs)/Operating Units (OUs) from the Central Office (CO)

Credit this account for:MDS checks issued

ADA issuedNotice of Transferred Allocation issued by NGA Main Office to ROs/OUs and/or attached offices thru Government Servicing Banks (GSB)

Reversion of unused/balance/expired portion of NCA

Sec. 14. Cash Bangko Sentral ng Pilipinas (103). This account is used to record deposits to and withdrawals from the account maintained with the Bangko Sentral ng Pilipinas (BSP).Debit this account for:Deposits with BSP

Credit advices/memos received from BSPCredit this account for:Withdrawal or reduction of deposits with BSP

Debit advices/memos received from BSP

Sec. 15. Petty Cash Fund (105). This account is used to record in the books of the agency the cash granted to Regular or Special Disbursing Officers for the creation of Petty Cash Fund (PCF), which shall be maintained under the Imprest System. Such Fund shall only be used for payment of petty or miscellaneous authorized expenditures, which cannot be conveniently paid by check.

Debit this account for:

Cash granted as PCF to duly designated Regular or Special Disbursing Officers for payment of petty or miscellaneous authorized expenditures

Replenishment in the ensuing year of expenses not replenished at the end of the year

Credit this account for:

Adjusting entry to recognize expenses paid out of the PCF but not replenished at the end of the year

Final liquidation/closing of the PCFSec. 16. Cash Collecting Officers (106). This account is used to record collections and deposits made by Collecting Officers/ Postmasters/Telegraph Operators to the National Treasury and/or AGDBs.


Collections made by Collecting Officers/Postmasters/Telegraph Operators

Dishonored (checks) deposits based on the debit memo received from the AGDBs


Deposits made by Collecting Officers for the account of the Treasurer of the Philippines (TOP)

Deposits made by Collecting Officers with AGDBs

Cancellation of Official Receipts

Incurrence of cash shortage

Sec. 17. Cash Disbursing Officers (107). This account is used to record the amount of cash advances granted to designated Regular or Special Disbursing Officers and disbursements made in payment of authorized official expenditures.


Cash advances to duly designated Regular or Special Disbursing Officers for payment of salaries and wages

Cash advances to Postmasters and Telegraph Operators for authorized disbursements

Cash advances to Special Disbursing Officers for specific purpose or activity


Liquidation/Authorized official payments made by Disbursing Officers/Postmasters/Telegraph Operators

Refund of unused portion of advances upon completion of the purpose/activity or at year-end

Incurrence of cash shortageSec. 18. Cash in Bank Local Currency, Current Account (110). This account is used to record deposits/withdrawals of local currency in current account maintained with AGDBs.


Deposits of local currency in current account

Credit advices/memos received

Interest earned net of withholding tax


Commercial checks issued

Debit advices/memos received

Remittance of interest earned net of withholding tax to the National Treasury Sec. 19. Cash in Bank Local Currency, Savings Account (111). This account is used to record deposits/withdrawals of local currency in a savings account maintained with AGDBs.


Deposits of local currency in savings account




Withdrawals or authorized reduction of deposits


Remittance of interest earned net of withholding tax to the

National TreasurySec. 20. Cash in Bank Local Currency, Time Deposits (112). This account is used to record placement in local currency of excess cash or cash not earmarked for immediate use with AGDBs for a specified period.Debit this account for:

Deposits of local currency with AGDBs for a specific period



Withdrawals of deposits or redemption at maturity

Remittance of interest earned net of withholding tax to the National Treasury Sec. 21. Cash in Bank Foreign Currency, Current Account (113). This account is used to record deposits and withdrawals of foreign currency in current account maintained with AGDBs.


Deposits of foreign currency in current account




Commercial checks issued



National Treasury Sec. 22. Cash in Bank Foreign Currency, Savings Account (114). This account is used to record deposits/withdrawals of foreign currency in savings account maintained with AGDBs.


Deposits of foreign currency in savings account




Withdrawals or authorized reduction of deposits



National Treasury Sec. 23. Cash in Bank Foreign Currency, Time Deposits (115). This account is used to record placement of foreign currency maintained with AGDBs for a specified period.


Deposits of foreign currency with AGDBs for a specific period

Interest earned net of withholding tax Credit this account for:

Withdrawals or reduction of deposits due to redemption at maturity


National Treasury

ReceivablesSec. 24. Accounts Receivable (121). This account is used to record the amount due from customers/clients resulting from services rendered, trading/business transactions, and sale of merchandise or property which are expected to be collected in the regular course of business or over a definite period.


Services rendered on account

Sale of merchandise or property on account

Other amounts due from customers/clients resulting from trading/business transactions/operations


Collection of the amount due from customers/clients

Authorized write-off of accountsSec. 25. Notes Receivable (122). This account is used to record the value of promissory notes, time drafts, trade acceptances and other negotiable short-term instruments from trade debtors.


Value of promissory notes, time drafts, trade acceptances and other negotiable short-term instruments received

Credit this account for:Collections made from promissory notes, time drafts, trade acceptances and other negotiable short-term instruments

Authorized write-off of accounts Sec. 26. Loans Receivable, Current (123). This account is used to record the amount of short-term loans granted by the government to duly authorized recipients including LGUs, GOCCs and authorized private entities in accordance with existing agreement.Debit this account for:

Short-term loans granted to duly authorized recipients including LGUs, GOCCs and authorized private entities


Collections made from the loans granted

Authorized write-off of accountsSec. 27. Interests Receivable (126). This account is used to record the uncollected interest earned from short-term/long-term investments.


Interest earned but not yet collected


Collection of the interest earned

Authorized write-off of accountsSec. 28. Due from Officers and Employees (128). This account is used to record the amount due from officers and employees of the agency and advances granted for official travels.


Overpayment of salaries, fringe benefits and other emoluments

Cash shortages

Cash advances granted for travels (local and foreign) subject to liquidation

Other receivables from officers and employees


Collections of overpayment of salaries, fringe benefits and other emoluments

Collections of cash shortages

Liquidation of cash advances for travel

Refund of excess/unused portion of cash advance for travels

Collection of receivables from officers and employees

Authorized write-off of accountsSec. 29. Due from NGAs (130). This account is used to record the amount due from departments, bureaus and other offices of the National Government.


Amount advanced for the account of NGAs

Overpayment to NGAs

Amount due arising from inter-agency and/or inter-office transactions


Collections of receivables from NGAs

Settlement of inter-agency and inter-office transactions

Authorized write-off of accountsSec. 30. Due from LGUs (131). This account is used to record the amount due from provinces, cities, municipalities, barangays and other LGUs.


Advances granted to LGUs

Subsidies granted to LGUs subject to liquidation

Overpayment to LGUs


Submission of liquidation reports by LGUs

Collections of receivables from LGUs

Authorized write-off of accountsSec. 31. Due from GOCCs (132). This account is used to record the amounts of short-term loans granted by the National Government to Government-Owned and/or Controlled Corporations (GOCCs) and Government Financial Institutions (GFIs).


Amount paid for the account of GOCCs/GFIs

Insurance claim from General Insurance Fund of GSIS

Overpayment to GOCCs/GFIs

Short-term loans granted to GOCCs/GFIs


Collection of receivables from GOCCs/GFIs

Authorized write-off of accountsSec. 32. Due from NGOs/POs (133). This account is used to record the release of funds entrusted to Non-Governmental Organizations/Peoples Organizations (NGOs/POs) for the implementation of government projects.


Release of funds entrusted to NGOs/POs


Liquidation of funds entrusted to NGOs/POs

Refund of unused fund Sec. 33. Due from National Treasury (134). This account is used to record the amount deposited/remitted by government agencies with the National Treasury thru AGDB for collections, which the agencies are authorized to use upon receipt of the NCA.


Deposits/Remittances with the National Treasury of collections, which the agencies are authorized to use


Receipt of NCA

For identifying the particular receivables from the National Treasury, subsidiary ledgers by nature of deposit shall be provided, such as cash performance bonds, grants and donations, etc.

Sec. 34. Due from Central Office (135). This account is used to record inter-office transactions in the books of Regional Offices/Staff Bureaus/Operating Units (ROs/SBs/OUs).


Inter-office transactions

Credit this account for:Inter-office transactions Sec. 35. Due from Regional Offices/Staff Bureaus (136). This account is used to record inter-office transactions in the books of CO/OUs. It also includes receivables from RO at year-end equivalent to the unobligated balance of allotment covered by funding check.



Receivables from RO/SB at year-end equivalent to the unobligated balance of allotment covered by funding check

Credit this account for:Inter-office transactions

Receipt of funds from RO/SB pertaining to unobligated

balance of allotment covered by funding check Sec. 36. Due from Operating Units (137). This account is used to record inter-office transactions in the books of Central/Regional Offices (CO/RO). It also includes receivables from OU at year-end equivalent to the unobligated balance of allotment covered by funding check.



Receivables from OU at year-end equivalent to the unobligated balance of allotment covered by funding check

Credit this account for:Inter-office transactions

Receipt of funds from OU pertaining to unobligated balance of allotment covered by funding check Sec. 37. Receivables Disallowances/Charges (138). This account is used to record the amount due from officers and employees and those outside of government agencies for audit disallowances/charges, which have become final and executory.


Amount due from officers and employees resulting from audit disallowances/charges, which have become final and executory

Amount due from contractors, suppliers or entities resulting from audit disallowances/charges, which have become final and executory

Credit this account for:Cash settlement of audit disallowances/charges

Compliance to requirements or non-cash settlement Sec. 38. Other Receivables (139). This account is used to record the amount due from all other debtors not falling under any of the specific types of receivables.


Amounts due from debtors and entities which cannot be classified under the specific receivable accounts


Collections of amounts due from other debtors

Authorized write-offSec. 39. Allowance for Doubtful Accounts (301). This account is used to record reduction in the value of trade receivable accounts, which is estimated as uncollectible based on COA standard/policies.


Accounts of customers/clients which have been determined to be uncollectible for which authority to write-off has been granted


Estimated amount of uncollectible accounts

Marketable SecuritiesSec. 40. Treasury Bills (140). This account is used to record the authorized purchase/acquisition by NGAs of short-term debt instruments issued by the National Government thru the BTr. Debit this account for:

Cost of treasury bills purchased


Resale or disposition of treasury bills Sec. 41. Other Marketable Securities (143). This account is used to record the cost of other marketable securities acquired as temporary investments by agencies.


Purchase of other types of authorized marketable securities


Sale or disposition of other types of marketable securities

Inventories Sec. 42. Raw Materials Inventory (144). This account is used to record the value of raw materials purchased for use in production.


Raw materials purchased for use in production


Raw materials issued for use in production

Inventory shortage/lossSec. 43. Work-In-Process Inventory (145). This account is used to record the cost and/or other appropriate value of job or work orders which have been started but unfinished or still in the process of manufacture as of the end of the accounting period.


Raw materials, labor and overhead put into production


Cost or value of the finished products

Inventory shortage/lossSec. 44. Finished Goods Inventory (146). This account is used to record the cost of completed job or work orders and goods manufactured/produced/processed.


Cost or value of the finished products


Finished products transferred to Merchandise Inventory account

Finished products issued

Inventory shortage/lossSec. 45. Merchandise Inventory (147). This account is used to record the cost or other appropriate value of merchandise and other property, which have been purchased or produced for sale. It includes but not limited to drugs and medicines for hospitals/sanitaria and finished products fabricated/manufactured/produced out of agency/ schools manufacturing operations which are intended for sale.


Articles purchased for sale

Goods or merchandise for sale which have been manufactured or produced, conversion cost of which have been charged to appropriations

Cost of drugs and medicines of hospitals/sanitaria for sale to patients


Sale/issuance or other modes of disposition of the above items

Sec. 46. Accountable Forms Inventory (148). This account is used to record the cost or appropriate value of accountable forms acquired/requisitioned for use in the course of government operations and/or sale.

Debit this account for:Cost or appropriate value of accountable forms


Sale/Issuance of accountable forms (at cost)

Transfer of inventory to ROs/OUs

Other modes of dispositionSec. 47. Office Supplies Inventory (149). This account is used to record the value of office supplies, printed general forms, janitorial supplies, IT supplies and other supplies purchased or acquired for use in the course of government operations.


Purchase of office supplies and materials

Cost of office supplies and materials acquired free of charge or thru donation


Use/Consumption of the above items

Other modes of disposition Sec. 48. Medical, Dental and Laboratory Supplies Inventory (150). This account is used to record the appropriate value of medical, dental and laboratory supplies acquired for use in the course of government operations. It includes drugs and medicines purchased for consumption of hospital/sanitary/clinic/center and other items used in research activities.


Purchase of-

Medical and dental supplies

Drugs and medicines for clinic/hospital/sanitary/center

consumption

Laboratory supplies for use in research activities


Use/consumption of the above items

Other modes of disposition Sec. 49. Food and Non-food Supplies Inventory (151). This account is used to record the appropriate value of non-perishable food and non-food supplies inventory in hospitals (Dietary Units) and penitentiary. It also includes those items purchased for distribution to people affected by calamities/disasters/areas in conflict.


Purchase of food and non-food supplies for use by patients, inmates and people affected in calamity-ridden areas


Use/Consumption

Other modes of disposition Sec. 50. Gasoline, Oil and Lubricants Inventory (152). This account is used to record the cost of gasoline, oil and lubricant, purchased for stock for issuance/consumption in government operations.

Debit this account for:Purchase of gasoline, oil and lubricants for stock to be consumed in government operations


Use/Consumption

Other modes of disposition Sec. 51. Agricultural Supplies Inventory (153). This account is used to record the cost or appropriate value of agricultural supplies purchased or acquired thru donation for use in the implementation of government programs. Debit this account for:Purchase or receipt of donated fertilizers and pesticides

Purchase or receipt of other donated agricultural supplies


Sale of fertilizers and pesticides and other agricultural supplies

Issuance or consumption for the implementation of projects

Other modes of disposition Sec. 52. Livestock and Crops Inventory (154). This account is used to record the cost or appropriate value of fruits/crops harvested and livestock acquired or purchased to be used in the dispersal program/project of the government. It is also used to record livestock produced and offered for sale upon reaching marketable age.


Purchase or acquisition of livestock to be used in the dispersal program/project of the government

Livestock offered for sale upon reaching marketable age

Value of offspring, harvested fruits and crops

Credit this account for:Issuance/Dispersal of livestock to the recipient

Sale of livestock/fruits and crops

Other modes of disposition

For the purpose of identifying the particular asset account, the following sub-accounts shall be used:

154 - 01 Livestock Inventory

154 - 02 Crops Inventory

Sec. 53. Spare Parts Inventory (155). This account is used to record the cost or appropriate value of spare parts purchased for the repair of vehicles, aircrafts, industrial machineries and other equipment.


Purchase of spare parts for use in the repair of vehicles, aircrafts, industrial machineries and other equipment

Credit this account for:Issuance of spare parts

Other modes of disposition Sec. 54. Construction Materials Inventory (156). This account is used to record the cost or appropriate value of construction materials purchased for projects undertaken by administration such as painting, carpentry/construction/plumbing and electrical supplies.


Purchase of construction materials for projects undertaken by administration

Return of items from the construction project to the stockroom


Issuance of construction materials

Other modes of disposition Sec. 55. Other Agricultural Products Inventory (157). This account is used to record the cost or appropriate value of produce from fishery and other agricultural operations, which are intended for sale.Debit this account for:

Inventory of produce from fishery and other agricultural

operations


Sale or other modes of disposition of fish and other agricultural productSec. 56. Confiscated Goods Inventory (158). This account is used to record the cost or appropriate value of confiscated goods and properties which are decided in favor of the government.Debit this account for:Confiscated goods and properties


Sale of confiscated good and properties

Other modes of disposition of confiscated goods and propertiesSec. 57. Other Inventory Items (160). This account is used to record the cost or appropriate value of inventories which cannot be classified under specific inventory accounts like, among others, forms (income tax returns, voters forms, etc.) brochures, printed leaflets for information dissemination of the government projects/programs, scrap materials, motor vehicles plates, car stickers, workbooks used in schools, etc.


Inventory of forms/brochures/leaflets/motor vehicles plates/car stickers, etc.

Inventory of workbooks for distribution to public schools

Inventory of scrap materials

Other inventory items


Sale/Issuance of other inventory items

Other modes of dispositionPrepaid ExpensesSec. 58. Prepaid Rent (161). This account is used to record the advance payment and deposit for lease/rental of buildings, land, equipment, office space, vehicles and other property, plant and equipment for use in government operations.


Advance payment and deposit for lease/rental of buildings, land, office space, equipment, vehicles and other properties for use in government operations

Credit this account for: Expired or expense portion at the end of the accounting period Sec. 59. Prepaid Insurance (162). This account is used to record the advance payment for fidelity bond premiums of accountable officers and insurance premiums of government properties.


Advance payment for -

Fidelity bond premiums of accountable officers

Insurance premiums of government properties


Expired or expense portion at the end of the accounting periodSec. 60. Prepaid Interest (164). This account is used to record advance payment of interest for loans contracted/guaranteed by the government.


Interest payments made in advance for loans contracted/ guaranteed by the government


Expired or expense portion at the end of the accounting periodSec. 61. Other Prepaid Expenses (165). This account is used to record other prepaid expenses not included in any specific prepaid accounts.


Other prepaid expenses


Expired portion of other prepaid expenses at the end of accounting period

Other Current AssetsSec. 62. Guaranty Deposits (166). This account is used to record the amount of cash deposits, subject to refund, made to secure or guaranty compliance with certain requirements in a transaction.


Deposits for the exercise of an option to levy or lease

Deposits to secure coinage

Deposits to secure BSP Notes

Deposits to secure stocks and bonds of GOCCs

Other deposits to guaranty performance


Refund/Forfeiture of the above depositsSec. 63. Deposits on Letters of Credit (167). This account is used to record deposits made for the opening of letters of credit.


Deposits made for opening domestic/foreign letters of credit


Application/Utilization of deposits for domestic/foreign purchasesSec. 64. Advances to Contractors (168). This account is used to record the payment authorized by law to be made in advance to contractors upon submission of the required bonds or stand-by letter of credit.


Payment of authorized advances to contractors


Recoupment of authorized advances to contractorsSec. 65. Other Current Assets (170). This account is used to record deposits on containers and other current assets which cannot be classified under specific current asset accounts.


Deposits on containers such as drums, gas, oxygen or acetylene tanks, bottles and other containers

Other current assets, which cannot be classified under any of the specific current asset accounts


Sale or disposition of the above items

Refund/Forfeiture of deposits made

Long-Term InvestmentsSec. 66. Loans Receivable Long-Term, LGUs (171). This account is used to record long-term loans granted/relent to LGUs by the National Government.Debit this account for:

Long-term loans granted to LGUs


Collection of long-term loans granted/relent to LGUsSec. 67. Loans Receivable Long-Term, GOCCs (172). This account is used to record long-term loans granted/relent to GOCCs by the National Government.


Long-term loans granted/relent to GOCCs


Collection of long-term loans granted/relent to GOCCsSec. 68. Loans Receivable Long-Term, Others (173). This account is used to record authorized long-term loans granted to private entities.


Long-term loans granted/relent to private entities


Collection of long-term loans granted/relent to private entitiesSec. 69. Investments in Stocks (174). This account is used to record authorized long-term investments in stocks of government and private corporations.


Subscription to capital stocks of government and private corporations


Sale of stocksSec. 70. Investments in Bonds (175). This account is used to record long-term investments in bonds of government and private institutions.


Purchase of bonds issued by the government and private institutions


Redemption of bonds

Resale of bonds

Sec. 71. Investments in GOCCs (176). This account is used to record equity and other long-term investments of the National Government to GOCCs.


Investments to GOCCs (non-stock)

Other long-term investments to GOCCs


Payments/Settlement received for investmentsSec. 72. Sinking Fund Cash (177). This account is used to record cash set aside for the liquidation of long-term debt. Debit this account for: Setting aside of cash as sinking fund


Purchase of sinking fund securities for the purpose of temporary investment

Liquidation of long-term debtSec. 73. Sinking Fund Securities (178). This account is used to record securities purchased out of sinking fund to generate income while waiting for the liquidation of long-term indebtedness.


Purchase of sinking fund securities


Redemption of securities

Sale of securitiesSec. 74. Other Long-Term Investments (179). This account is used to record all other types of long-term investments, which cannot be classified under specific investment accounts. It includes cost of stocks/securities purchased from service enterprises as required before service connection is made.


All other types of long-term investment

Cost of stocks/securities purchased from power and telephone companies and other service enterprises as required before service connections is made or the needed service can be rendered


Sale or disposition of other types of long-term investments

Sale or disposition of stocks/securities purchased for power and telephone companies and other service enterprise

Property, Plant and EquipmentSec. 75. Land (201). This account is used to record the cost or appraised value or other appropriate value of land acquired by the government including property rights and interests.Debit this account for:

Purchase of land

Transfer from government agencies, private entities and individuals

Transfer due to court order

Free acquisition/Donation


Sale

Transfer to government agencies

Donation Sec. 76. Land Improvements (202). This account is used to record the cost or appropriate value of land improvements, which are more or less permanent or capital in nature such as; flagpoles, sidewalks, fences, driveways, parking areas, etc.


Construction of land improvements

Transfer of land to where it was constructed by government agencies, private entities and individuals




Sale of land to where it was constructed

Transfer of land to government agencies

Involuntary destruction

Donation of land to where it was constructed Sec. 77. Accumulated Depreciation Land Improvements (302). This account is used to record the cumulative reduction in value of land improvements due to use in the course of operation or in production of income.


Accumulated amount of depreciation charged against the land improvements upon destruction or transfer/sale of land to where it was constructed


Periodic charges as depreciation expense for land improvements Sec. 78. Leasehold Improvements (203). This account is used to record the cost or appropriate value of improvements made on leased property.


Cost or appropriate value of improvements on leased property


Reduction of leasehold improvements due to destruction

Other modes of disposition

Sec. 79. Accumulated Depreciation Leasehold Improvements (303). This account is used to record the cumulative reduction in value of leasehold improvements due to use in the course of operation or in production of income.


Accumulated amount of depreciation charged against the leasehold improvements upon demolition or termination of the lease


Periodic charges as depreciation expense for leasehold improvements (Depreciable life is the life of the leasehold improvement or the lease agreement whichever is shorter.)Sec. 80. Buildings (204). This account is used to record the cost or appraised value of the buildings purchased or constructed (other than school buildings, markets, slaughterhouses, hospitals and health centers), including related improvements, which are capital in nature.


Purchase or construction of buildings

Additions, improvements, alterations, replacements, major repairs, etc. which are capitalized when it extends the life, increase the capacity or improve the efficiency or safety of the property



Free acquisition/donation received


Sale



Demolition

Donation Sec. 81. Accumulated Depreciation Buildings (304). This account is used to record the cumulative reduction in value of buildings (other than school buildings, markets, slaughterhouses, hospitals and health centers) due to use in the course of operation or in production of income. Debit this account for:

Accumulated amount of depreciation charged against the building upon retirement, sale or demolition


Periodic charges as depreciation expense for buildings Sec. 82. School Buildings (205). This account is used to record the cost or appraised value of school buildings purchased or constructed including related improvements, which are capital in nature.


Purchase or construction of school buildings






Sale



Demolition

Donation Sec. 83. Accumulated Depreciation School Buildings (305). This account is used to record the cumulative reduction in value of school buildings due to use in the course of operation or in the production of income.


Cumulative amount of depreciation charged against the building upon retirement, sale or demolition


Periodic charges as depreciation expense for school buildings Sec. 84. Markets and Slaughterhouses (206). This account is used to record the cost or appraised value of markets and slaughterhouses acquired or constructed.

Debit this account for:Purchase or construction of markets and slaughterhouses





Credit this account for:Sale



Donation

For the purpose of identifying the particular asset account, the following sub-accounts shall be used: 206 - 01 Markets

206 - 02 Slaughterhouses

Sec. 85. Accumulated Depreciation Markets and Slaughterhouses (306). This account is used to record the cumulative reduction in value of markets and slaughterhouses due to use in the course of operation or in production of income.Debit this account for:

Cumulative amount of depreciation charged against markets and slaughterhouses upon retirement, sale or demolition


Periodic charges as depreciation expense for markets and slaughterhouses

For the purpose of identifying the depreciation of the particular asset account, the following sub-accounts shall be used:

306 - 01 Accumulated Depreciation - Markets

306 - 02 Accumulated Depreciation SlaughterhousesSec. 86. Hospitals and Health Centers (207). This account is used to record the cost or appraised value of hospitals and health centers acquired or constructed.


Purchase or construction of hospitals and health centers






Sale



Demolition

Donation


207 - 01 Hospitals

207 - 02 Health CentersSec. 87. Accumulated Depreciation Hospitals and Health Centers (307). This account is used to record the cumulative reduction in value of hospitals and health centers due to use in the course of operation or in production of income.


Cumulative amount of depreciation charged against hospitals and health centers upon retirement, sale or demolitionCredit this account for:

Periodic charges as depreciation expense for hospitals and health centers For the purpose of identifying the depreciation of the particular asset account, the following sub-accounts shall be used:

307 - 01 Accumulated Depreciation - Hospitals

307 - 02 Accumulated Depreciation - Health CentersSec. 88. Other Structures (208). This account is used to record the cost or appraised value of other structures acquired or constructed.


Purchase or construction of other structures




Free acquisition/DonationCredit this account for:

Sale



Demolition

Donation Sec. 89. Accumulated Depreciation Other Structures (308). This account is used to record the cumulative reduction in value of other structures due to use in the course of operation or in production of income.


Cumulative amount of depreciation charged against other structures upon retirement, sale or demolition

Credit this account for:Periodic charges as depreciation expense for other structures Sec. 90. Industrial Machineries (209). This account is used to record the cost or appraised value of industrial machineries acquired.


Purchase of industrial machineries



Items found at station



Sale



Donation Sec. 91. Accumulated Depreciation Industrial Machineries (309). This account is used to record the cumulative reduction in value of industrial machineries due to use in the course of operation or in production of income.


Cumulative amount of depreciation charged against

industrial machineries upon retirement, sale or destruction.


Periodic charges as depreciation expense for industrial machineries Sec. 92. Other Machineries (210). This account is used to record the cost or appraised value of other machineries and equipment acquired.


Purchase of other machineries and equipment


Transfer from government/agencies, private entities and individuals






Donation Sec. 93. Accumulated Depreciation Other Machineries (310). This account is used to record the cumulative reduction in value of machineries and equipment due to use in the course of operation or in production of income.


Cumulative amount of depreciation charged against other machineries upon retirement, sale or destruction

Credit this account for:Periodic charges as depreciation expense for other machineries Sec. 94. Firefighting Equipment and Accessories (211). This account is used to record the cost or appraised value of firefighting equipment and accessories acquired. Debit this account for:

Purchase of firefighting equipment and accessories






Sale



Donation


211 - 01 Firefighting Equipment

211 - 02 AccessoriesSec. 95. Accumulated Depreciation Firefighting Equipment and Accessories (311). This account is used to record the cumulative reduction in value of firefighting equipment and accessories due to use in the course of operation or in production of income.


Cumulative amount of depreciation charged against firefighting equipment and accessories upon retirement, sale or destruction


Periodic charges as depreciation expense for firefighting equipment and accessories


311 - 01 Accumulated Depreciation - Firefighting Equipment

311 - 02 Accumulated Depreciation AccessoriesSec. 96. Construction and Heavy Equipment (212). This account is used to record the cost or appraised value of construction and heavy equipment acquired.


Purchase of construction equipment






Sale



Donation Sec. 97. Accumulated Depreciation Construction and Heavy Equipment (312). This account is used to record the cumulative reduction in value of construction and heavy equipment due to use in the course of operation or in production of income.


Cumulative amount of depreciation charged against construction equipment upon retirement, sale or destruction


Periodic charges as depreciation expense for construction and heavy equipment


Donation Sec. 98. Technical and Scientific Equipment (214). This account is used to record the cost or appraised value of technical and scientific equipment acquired.


Purchase of technical and scientific equipment






Sale



Donation


214 - 01 Technical Equipment

214 - 02 Scientific EquipmentSec. 99. Accumulated Depreciation Technical and Scientific Equipment (314). This account is used to record the cumulative reduction in value of technical and scientific equipment due to use in the course of operation or in production of income.


Cumulative amount of depreciation charged against technical and scientific equipment upon retirement, sale or destruction


Periodic charges as depreciation expense for technical and scientific equipment


314 - 01 Accumulated Depreciation - Technical Equipment

314 - 02 Accumulated Depreciation - Scientific EquipmentSec. 100. IT Equipment and Software (215). This account is used to record the cost or appraised value of IT equipment and software acquired, purchased or developed.


Purchase of IT equipment and software including those developed by the agency




Free acquisition/Donation Credit this account for:

Sale



Donation


215 - 01 IT equipment (from PCs to more complex

mainframes)

215 - 02 IT peripheral equipment ( such as printers,

external devices for back-up storage and

similar items)

215 - 02 Software (consisting of operating systems,

application software and the like)Sec. 101. Accumulated Depreciation IT Equipment (315). This account is used to record the cumulative reduction in value of IT equipment due to use in the course of operation or in production of income.


Cumulative amount of depreciation charged against IT equipment upon retirement, sale, or destruction


Periodic charges as depreciation expense for IT equipment Sec. 102. Telegraph, Telephone, Cable, TV and Radio Equipment (216). This account is used to record the cost or appraised value of telegraph, telephone, cable, TV and radio equipment acquired.


Purchase of telegraph, telephone, cable, TV and radio equipment






Sale

Transfer to government agency


Donation


216 - 01 Telegraph

216 - 02 Telephone

216 - 03 Cable

216 - 04 TV

216 - 05 Radio Equipment Sec. 103. Accumulated Depreciation Telegraph, Telephone, Cable, TV and Radio Equipment (316). This account is used to record the cumulative reduction in value of telegraph, telephone, cable, TV and radio equipment due to use in the course of operation or in production of income.

Debit this account for:Cumulative amount of depreciation charged against telegraph, telephone, TV cable and radio equipment upon retirement, sale or destruction.

Credit this account for:Periodic charges as depreciation expense for telegraph, telephone, cable, TV and radio equipment


316 - 01 Accumulated Depreciation - Telegraph

316 - 02 Accumulated Depreciation - Telephone

316 - 03 Accumulated Depreciation - Cable

316 - 04 Accumulated Depreciation - TV

316 - 05 Accumulated Depreciation - Radio EquipmentSec. 104. Artesian Wells, Reservoirs, Pumping Stations and Conduits (217). This account is used to record the cost or appraised value of artesian wells, reservoirs, pumping stations and conduits acquired/constructed.


Purchase/construction of artesian wells, reservoirs, pumping stations and conduits


Transfer from government agencies, private entities and individual




Sale



Donation


217 - 01 Artesian Wells

217 - 02 Reservoirs

217 - 03 Pumping Stations

217 - 04 Conduits Sec. 105. Accumulated Depreciation Artesian Wells, Reservoirs, Pumping Stations and Conduits (317). This account is used to record the cumulative reduction in value of artesian wells, reservoirs, pumping stations and conduits due to use or in production of income.


Cumulative amount of depreciation charged against artesian wells, reservoirs, pumping stations and conduits upon retirement, sale or destruction


Periodic charges as depreciation expense for artesian wells, reservoirs, pumping stations and conduits

For the purpose of identifying the depreciation of the particular asset account, the following sub-account shall be used:

317 - 01 Accumulated Depreciation - Artesian Wells

317 - 02 Accumulated Depreciation - Reservoirs

317 - 03 Accumulated Depreciation - Pumping Stations

317 - 04 Accumulated Depreciation ConduitsSec. 106. Motor Vehicles (218). This account is used to record the cost or appraised value of motor vehicles acquired. Debit this account for:Purchase of motor vehicles





Credit this account for:Sale Transfer to government agencies


Donation Sec. 107. Accumulated Depreciation Motor Vehicles (318). This account is used to record the cumulative reduction in value of motor vehicles due to use in operation or in production of income.

Debit this account for: Cumulative amount of depreciation charged against motor vehicles upon retirement, sale or destruction


Periodic charges as depreciation expense for motor vehicles Sec. 108. Watercrafts (219). This account is used to record the cost or appraised value of watercrafts acquired.


Purchase of watercrafts


Transfer from government agencies, private entities and

individuals




Sale



Donation Sec. 109. Accumulated Depreciation Watercrafts (319). This account is used to record the cumulative reduction in value of watercrafts due to use in the course of operation or in production of income.


Cumulative amount of depreciation charged against watercrafts upon retirement, sale or destruction


Periodic charges as depreciation expense for watercrafts Sec. 110. Trains (220). This account is used to record the cost or appraised value of trains acquired. Debit this account for:

Purchase of trains





Sale



Donation Sec. 111. Accumulated Depreciation Trains (320). This account is used to record the cumulative reduction in value of trains due to use in the course of operation or in production of income.


Cumulative amount of depreciation charged against trains upon retirement, sale or destruction


Periodic charges as depreciation expense for trains

Sec. 112. Aircrafts/Aircraft Ground Equipment (221). This account is used to record the cost or appraised value of aircrafts/aircraft ground equipment acquired.


Purchase of aircrafts/aircraft ground equipment






Sale



Donation


221 - 01 Aircrafts

221 - 02 Aircraft Ground Equipment Sec. 113. Accumulated Depreciation Aircrafts/Aircraft Ground Equipment (321). This account is used to record the cumulative reduction in value of aircrafts/aircraft ground equipment due to use in the course of operation or in production of income.


Cumulative amount of depreciation charged against aircrafts/aircraft ground equipment upon retirement, sale or destruction


Periodic charges as depreciation expense for aircrafts/aircraft ground equipment


321 - 01 Accumulated Depreciation Aircrafts

321 - 02 Accumulated Depreciation Aircraft Ground EquipmentSec. 114. Office Equipment (222). This account is used to record the cost or appraised value of office equipment acquired or purchased.


Purchase of office equipment






Sale



Donation Sec. 115. Accumulated Depreciation Office Equipment (322). This account is used to record the cumulative reduction in value of office equipment due to use in operation or in production of income.


Cumulative amount of depreciation charged against office equipment upon retirement, sale or destruction.


Periodic charges as depreciation expense for office equipment Sec. 116. Other Equipment (223). This account is used to record the cost or appraised value of other equipment acquired not falling under specific property, plant and equipment accounts.


Purchase of other types of equipment






Sale



Donation Sec. 117. Accumulated Depreciation Other Equipment (323). This account is used to record the cumulative reduction in value of other equipment due to use in operation or in production of income.Debit this account for:

Cumulative amount of depreciation charged against other equipment upon retirement, sale or destruction


Periodic charges as depreciation expense for other equipment Sec. 118. Furniture and Fixtures (224). This account is used to record the cost or appraised value of furniture and fixtures acquired.


Purchase of furniture and fixtures








Donation


224 - 01 Furniture

224 - 02 Fixtures Sec. 119. Accumulated Depreciation Furniture and Fixtures (324). This account is used to record the cumulative reduction in value of furniture and fixtures due to use in operation or in production of income.


Cumulative amount of depreciation charged against furniture and fixtures upon retirement, sale or destruction


Periodic charges as depreciation expense for furniture and fixtures

For the purpose of identifying the depreciation of the particular asset account, the following sub-accounts shall be use:

324 - 01 Accumulated Depreciation - Furniture

324 - 02 Accumulated Depreciation FixturesSec. 120. Ordnance (225). This account is used to record the cost or appraised value of ordnance acquired.


Purchase of ordnance






Sale



Donation Sec. 121. Accumulated Depreciation Ordnance (325). This account is used to record the cumulative reduction in value of ordnance due to use in operation.


Cumulative amount of depreciation charged against ordnance upon retirement, sale or destruction


Periodic charges as depreciation expense for ordnance Sec. 122. Books (226). This account is used to record the cost or appraised value of books acquired. This includes

Documents

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