Revised Chart Of s For Lgus 5k5o4p

Annex B LOCAL GOVERNMENT CHART OF S DESCRIPTION OF S

1 ASSETS 01 Cash 01 Cash on Hand Title Number Normal Balance

Cash – Local Treasury 1-01-01-010 Debit

Description

This is used to record the amount of cash received by the Local Treasurers for deposit to Authorized Government Depository Bank (AGDB). Credit this for deposits to AGDBs.

Title Number Normal Balance

Petty Cash 1-01-01-020 Debit

Description

This is used to record the amount of cash granted to duly designated Petty Cash custodian for payment of authorized petty or miscellaneous expenses which cannot be conveniently paid through checks. Credit this every time there is a change in Petty Cash custodian and the end of the year for refund and liquidation of cash advance.

02 Cash in Bank - Local Currency Title Number Normal Balance

Cash in Bank - Local Currency, Current 1-01-02-010 Debit

Description

This is used to record deposits with AGDBs, trust receipts authorized under specific contracts and agreements; Revolving Fund under specific laws; and credit advices/memos received from the AGDBs. This is credited for check drawn against the , debit advices/memos received from the AGDBs.


Cash in Bank - Local Currency, Savings 1-01-02-020 Debit

Description

This is used to record deposits to combined savings of local government units with AGDBs. Credit this for transfers to the current .

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03 Cash in Bank - Foreign Currency Title Number Normal Balance

Cash in Bank - Foreign Currency, Current 1-01-03-010 Debit

Description

This is used to record foreign currency deposits of agencies implementing foreign-assisted projects and required by regulation or by the lending/donor institution to maintain Special / Working Fund. Credit this for withdrawals made.


Cash in Bank - Foreign Currency, Savings 1-01-03-020 Debit

Description

This is used to record foreign currency deposits of agencies implementing foreign-assisted projects and required to maintain Special s.

02 Investments 01 Investments in Time Deposits Title Number Normal Balance

Cash in Bank - Local Currency, Time Deposits 1-02-01-010 Debit

Description

This is used to record placements of cash in local currency with AGDBs for a specific period of time. Credit this for withdrawal of placements.


Cash in Bank - Foreign Currency, Time Deposits 1-02-01-020 Debit

Description

This is used to record placements of cash in foreign currency with AGDBs for a specific period of time. Credit this for withdrawal of placements.


Treasury Bills 1-02-01-030 Debit

Description

This is used to record amounts placed in treasury bills issued by the National Government thru the Bureau of Treasury (BTr). Credit this when the rights to the cash flows have expired or transferred to another party thru resale or other disposition.

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02 Financial Assets at Fair Value through Surplus or Deficit Title Number Normal Balance

Financial Assets Held for Trading 1-02-02-010 Debit

Description

This is used to record government authorized debt and equity security investments that are: (a) acquired principally for the purpose of selling or repurchasing them in the near term; or (b) part of a portfolio of identified securities that are managed together and for which there is evidence of a recent actual pattern of short term profit-taking. Credit this when the rights to the cash flows have expired or transferred to another party thru resale or other disposition.


Financial Assets Designated at Fair Value Through Surplus or Deficit 1-02-02-020 Debit

Description

This is used to record government authorized debt and equity security investments that, upon initial recognition are designated by the entity as at fair value through profit or loss. This shall comprise both debt and equity securities. Credit this when the rights to the cash flows have expired or transferred to another party thru resale or other disposition.

03 Financial Assets - Held to Maturity Title Number Normal Balance

Investments in Treasury Bills - Local 1-02-03-010 Debit

Description

This is used to record money invested in treasury bills issued by the National Government with the intention to hold until maturity. Credit this upon settlement or derecognition.


Allowance for Impairment – Investments in Treasury Bills – Local 1-02-03-011 Credit

Description

This is credited when there is an objective evidence that the investments in local treasury bills are impaired. Debit this upon derecognition of the investments in local treasury bills or reversal of impairment loss.


Investments in Bonds - Local 1-02-03-020 Debit

Description

This is used to record investment in bonds issued by the BTr and other local governments. Credit this upon settlement or derecognition.


Allowance for Impairment – Investments in Bonds – Local 1-02-03-021 Credit

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Description

This is credited when there is an objective evidence that the investments in local bonds are impaired. Debit this upon derecognition of the investments in local treasury bonds or reversal of impairment loss.

04 Financial Assets – Available for Sale Title Number Normal Balance

Investments in Stocks 1-02-04-010 Debit

Description

This is used to record record investment in government authorized equity shares not recognized at fair value through surplus or deficit. Credit this upon transfer, settlement or derecognition.


Investments in Bonds 1-02-04-020 Debit

Description

This is used to record investment in government authorized bonds not recognized at fair value through surplus or deficit or held to maturity. Credit this upon settlement, transfer or derecognition.

05 Financial Assets – Others Title Number Normal Balance

Deposits on Letters of Credit 1-02-05-010 Debit

Description

This is used to record the amount paid by the agency to the bank for opening letters of credit. Credit this for delivery of goods purchased.


Allowance for Impairment – Deposits on Letters of Credit 1-02-05-011 Credit

Description

This is credited when there is an objective evidence that the deposit on letters of credit are impaired. Debit this upon derecognition of the deposit or reversal of impairment loss.


Guaranty Deposits 1-02-05-020 Debit

Description

This is used to record amount deposited for goods such as deposit for containers and deposits made to guarantee compliance with the of an agreement. Credit this for application of deposit.


Allowance for Impairment – Guaranty Deposits 1-02-05-021 Credit

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Description

This is credited when there is an objective evidence that the guaranty deposits are impaired. Debit this upon derecognition of the deposit or reversal of impairment loss.


Other Investments 1-02-05-990 Debit

Description

This is used to record other deposits or investments. Credit this upon settlement, transfer or derecognition.


Allowance for Impairment – Other Investments 1-02-05-991 Credit

Description

This is credited when there is an objective evidence that the other deposits or investments are impaired. Debit this upon derecognition of the deposits or investments or reversal of impairment loss.

06 Investments in t Ventures Title Number Normal Balance

Investments in t Ventures 1-02-06-010 Debit

Description

This is used to record investments in t venture activities. Credit this for return of investment, sale, transfer or derecognition.


Allowance for Impairment - Investments in t Ventures 1-02-06-011 Credit

Description

This is credited when there is an objective evidence that the investment in t venture is impaired. Debit this for return of investment, sale, transfer or derecognition.

07 Sinking Fund Title Number Normal Balance

Sinking Fund 1-02-07-010 Debit

Description

This is used to record the amount set aside on a regular basis to pay off at maturity long-term debt such as bonds, with maturities of three years or more. This includes investments of the LGU and LGU-managed sinking funds in time deposits and securities. Credit this for payment of long term debt interest expenses and principal.

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03 Receivable s 01 Loans and s Receivable Title Number Normal Balance

s Receivable 1-03-01-010 Debit

Description

This is used to record the amount due from clients/customers arising from regular trade and business transactions. Credit this for collection of receivable or transfers.


Allowance for Impairment – s Receivable 1-03-01-011 Credit

Description

This is credited when there is an objective evidence that the s receivable is impaired. Debit this for collection of receivables, transfer or reversal of impairment.


Real Property Tax Receivable 1-03-01-020 Debit

Description

This is used to record amount of receivables for real property tax income accruing to the agency due from the taxpayers for basic real property tax from real property, such as: land, building and equipment.


Allowance for Impairment – Real Property Tax Receivable 1-03-01-021 Credit

Description

This is credited when there is an objective evidence that the real property tax receivable is impaired. Debit this for collection of receivables, transfer or reversal of impairment.


Special Education Tax Receivable 1-03-01-030 Debit

Description

This is used to record amount receivable for special education tax income accruing to the agency due from the taxpayers for the additional 1% tax from real property for special education.


Allowance for Impairment – Special Education Tax Receivable 1-03-01-031 Credit

Description

This is credited when there is an objective evidence that the special education tax receivable is impaired. Debit this for collection of receivables, transfer or reversal of impairment.


Notes Receivable 1-03-01-040 Debit

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Description

This is used to record claims expected to be received at a future date, usually with interest, for which a formal instrument of credit is issued as evidence of debt, such as promissory notes. Credit this for encashment of notes.


Allowance for Impairment – Notes Receivable 1-03-01-041 Credit

Description

This is credited when there is an objective evidence that the notes receivable is impaired. Debit this upon encashment of notes, transfer or reversal of impairment.


Loans Receivable – Government-Owned and/or Controlled Corporations 1-03--01-050 Debit

Description

This is used to record credits/loans in foreign or local currency extended by the LGU to the GFIs/GOCCs covered by loan agreements. Credit this for receipt of loan repayments.

Title

Allowance for Impairment – Loans Receivable – Government-Owned and/or Controlled Corporations 1-03-01-051 Credit

Number Normal Balance Description

This is credited upon to set up provision for losses which may arise from the non-collection of loans receivable. Debit this upon receipt of loan repayments or transfers.


Loans Receivable - Local Government Units 1-03-01-060 Debit

Description

This is used to record amounts of credit extended to local government units covered by loan agreements. Credit this for receipt of loan repayments or transfers.


Allowance for Impairment – Loans Receivable – Local Government Units 1-03-01-061 Credit

Description

This is credited to set up provision for losses which may arise from the non-repayment of loans receivable. Debit this upon receipt of loan repayments, transfers, or reversal of impairment.


Interests Receivable 1-03-01-070 Debit

Description

This is used to record the amount of accrued interests on advances and investments. Credit this for receipt of interest.


Allowance for Impairment – Interests Receivable 1-03-01-071 Credit

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Description

This is credited to set up provision for losses which may arise from the non-collection of interests receivable. Debit this upon receipt of interests, transfers, or reversal of impairment.


Dividends Receivable 1-03-01-080 Debit

Description

This is used to record dividends due from investments in stocks in GOCCs and other public utility companies. Credit this for receipt of dividends.


Allowance for Impairment – Dividends Receivable 1-03-01-081 Credit

Description

This is credited to set up provision for losses which may arise from the non-collection of dividend receivable. Debit this upon receipt of dividends, or reversal of impairment.


Loans Receivable – Others 1-03-01-990 Debit

Description

This is used to record amounts of credit extended to debtors not otherwise specifically classified. Credit this for receipt of loan repayments.


Allowance for Impairment – Loans Receivable – Others 1-03-01-991 Credit

Description

This is credited to set up provision for losses which may arise from the non-collection of other loan receivables. Debit this upon receipt of loan repayments, transfers, or reversal of impairment.

02 Lease Receivables Title Number Normal Balance

Operating Lease Receivable 1-03-02-010 Debit

Description

This is used to record the accrual of rental income from lease of assets under operating lease. Credit this upon collection of rental income or transfers.


Allowance for Impairment – Operating Lease Receivable 1-03-02-011 Credit

Description

This is credited to set up provision for losses which may arise from the non-collection of operating lease receivables. Debit this upon collection of the receivables, transfers, or reversal of impairment.

Title Number

Finance Lease Receivable 1-03-02-020

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Normal Balance

Debit

Description

This is used to record the amount due from lease of assets under finance lease or sale of government property on installment basis. Credit this upon collection of the installment due or transfers.


Allowance for Impairment – Finance Lease Receivable 1-03-02-021 Credit

Description

This is credited to set up provision for losses which may arise from the non-collection of finance lease receivables. Debit this upon collection of the receivables, transfers, or reversal of impairment.

03 Inter - Agency Receivables Title Number Normal Balance

Due from National Government Agencies 1-03-03-010 Debit

Description

This is used to record advances for purchase of goods/services as authorized by law, fund transfers to the NGAs for implementation of projects, receivables of LGUs’ share from national taxes covered by notice received from DBM, expenses advanced by LGUs in behalf of the NGAs and other receivables from NGAs. Credit this for delivery of goods /services, liquidation of fund transfers, receipt of share from national taxes, payment of advances and other receivables. (Subsidiary ledger shall be maintained by agency such as Procurement Service, National Printing Office, etc.)


Allowance for Impairment – Due from National Government Agencies 1-03-03-011 Credit

Description

This is credited to set up provision for losses which may arise from the non-collection of receivables from national government agencies. Debit this upon collection of the receivables, transfers, or reversal of impairment.


Due from Government-Owned and/or Controlled Corporations 1-03-03-020 Debit

Description

This is used to record advances for purchase of goods/services as authorized by law, fund transfers to the GOCCs for implementation of projects. Credit this for delivery of goods /services, liquidation of fund transfers, payment of advances and other receivables. (Subsidiary ledger shall be maintained by agency.)


Allowance for Impairment – Due from Government-Owned and/or Controlled Corporations 1-03-03-021 Credit

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Description

This is credited to set up provision for losses which may arise from the non-collection of receivables from government-owned and/or controlled corporations. Debit this upon collection of the receivables, transfers, or reversal of impairment.


Due from Local Government Units 1-03-03-030 Debit

Description

This is used to record amount of advances for purchase of goods/services as authorized by law, fund transfers to the LGUs for implementation of projects, share from LGUs income and other receivables. Credit this for delivery of goods /services, liquidation of fund transfers and receipt of share/payment of other receivables.


Allowance for Impairment – Due from Local Government Units 1-03-03-031 Credit

Description

This is credited to set up provision for losses which may arise from the non-collection of receivables from local government units. Debit this upon collection of the receivables, transfers, or reversal of impairment.


Due from t Venture 1-03-03-040 Debit

Description

This is used to record amount of advances and/or fund transfers to the t Ventures for implementation of projects. Credit this for receipt of share/payment of other receivables.


Allowance for Impairment – Due from t Venture 1-03-03-041 Credit

Description

This is credited to set up provision for losses which may arise from the non-collection of receivables from t ventures. Debit this upon collection of the receivables, transfers, or reversal of impairment.

04 Intra-Agency Receivables Title Number Normal Balance

Due from Other Funds 1-03-04-050 Debit

Description

This is used to record in the agency books the amount of advances to other funds. Credit this upon liquidation.


Due from Special s 1-03-04-060 Debit

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Description

This is used to record the amount granted to other special s in the general fund of the local government unit. Credit this upon liquidation.


Due from Local Economic Enterprise 1-03-04-070 Debit

Description

This is used to record the amount granted to local economic enterprises maintained as special s in the general fund of the local government unit. Credit this upon liquidation.

05 Advances Title Number Normal Balance

Advances for Operating Expenses 1-03-05-010 Debit

Description

This is used to record in the agency books the amount of advances granted to able officers for payment of operating expenses of operating/field units. Credit this upon liquidation.


Advances for Payroll 1-03-05-020 Debit

Description

This is used to record the amount granted to regular disbursing officer for payment of salaries, wages, honoraria, allowances and other personnel benefits. Credit this upon liquidation.


Advances to Special Disbursing Officer 1-03-05-030 Debit

Description

This is used to record the amount granted to agency’s able officers and employees for special purpose/time-bound undertakings to be liquidated within a specified period. This includes labor payroll for projects undertaken by istration. Credit this upon liquidation.


Advances to Officers and Employees 1-03-05-040 Debit

Description

This is used to record amount advanced to officers and employees for official travel. Credit this for liquidation.

06 Other Receivables Title Number Normal Balance

Receivables - Disallowances/Charges 1-03-06-010 Debit

Description

This is used to record the amount of disallowances/charges in post audit due from public/private individuals/entities which have become final and executory. Credit this for settlement of disallowances/charges.

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Allowance for Impairment – Receivables- Disallowances/Charges 1-03-06-011 Credit

Description

This is credited to set up provision for losses which may arise from the non-collection of receivables-disallowances/charges. Debit this upon collection of the receivables, transfers, or reversal of impairment.


Due from Officers and Employees 1-03-06-020 Debit

Description

This is used to record amount of claims from agency’s officers and employees for overpayment, cash shortage, loss of assets and other bills issued by the agency. Credit this for collection of receivable.


Allowance for Impairment – Due from Officers and Employees 1-03-06-021 Credit

Description

This is credited to set up provision for losses which may arise from the non-liquidation of advances from officers and employees. Debit this upon collection of the receivables, transfers, or reversal of impairment.


Due from Non-Government Organizations/People's Organizations 1-03-06-030 Debit

Description

This is used to record amount of advances granted to NonGovernment Organizations (NGOs)/ People’s Organizations (POs) for implementation of specific projects. Credit this for liquidation of advances.

Title

Allowance for Impairment – Organizations/People's Organizations 1-03-06-031 Credit

Number Normal Balance

Due

from

Non-Government

Description

This is credited to set up provision for losses which may arise from the non-liquidation of advances from officers and employees. Debit this upon collection of the receivables, transfers, or reversal of impairment.


Other Receivables 1-03-06-990 Debit

Description

This is used to record amount due from debtors and other agencies not falling under any of the specific receivable . Credit this for payment/liquidation of receivable.


Allowance for Impairment - Other Receivables 1-03-06-991 Debit

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Description

This is credited to reduce the cost/amortized cost/ fair value of other receivables due to impairment. Debit this upon receipt of other receivables, transfers and reversal of impairment loss.

04 Inventories 01 Inventory Held for Sale Title Number Normal Balance

Merchandise Inventory 1-04-01-010 Debit

Description

This is used to record the cost of goods purchased/acquired which are intended for sale in the ordinary course of business. This includes agricultural produce and other merchandise. Credit this for the sale, transfer or write-down of merchandise inventory. Subsidiary ledgers: 01- able Forms 02- Drugs and Medicines 03- Agricultural Produce 04- Ammunitions 05- Property and Equipment 99 - Others

02 Inventory Held for Distribution Title Number Normal Balance

Food Supplies for Distribution 1-04-02-010 Debit

Description

This is used to record cost of food for hospital/rehabilitation patients, jail inmates and the like. Credit this for issuance to ends, transfers or write-down.


Welfare Goods for Distribution 1-04-02-020 Debit

Description

This is used to record the cost of goods for distribution to people affected by calamities/disasters/ground conflicts such as canned goods, blankets, mats, kitchen utensils, flashlights and other similar items. Credit this for issuance to end-s, transfers or write-down.


Drugs and Medicines for Distribution 1-04-02-030 Debit

Description

This is used to record the cost of drugs and medicines purchased/received for distribution. Credit this for issuance to ends, transfers or write-down.

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Medical, Dental and Laboratory Supplies for Distribution 1-04-02-040 Debit

Description

This is used to record the cost of medical, dental and laboratory supplies purchased/received for distribution. Credit this for issuance to end-s, transfers or write-down.


Agricultural and Marine Supplies for Distribution 1-04-02-050 Debit

Description

This is used to record the cost of fertilizers, pesticides and other marine and agricultural supplies for distribution. This includes supplies for aquaculture researches, environment protection/preservations and the like. Credit this for issuance to end-s, transfers or write-down of the inventory.


Agricultural Produce for Distribution 1-04-02-060 Debit

Description

This is used to record the cost of agricultural produce for distribution. This includes livestock and poultry; crops and fruits and other agricultural products. Credit this for issuance to end-s, transfers, or write-down of agricultural produce.


Textbooks and Instructional Materials for Distribution 1-04-02-070 Debit

Description

This is used to record the cost of textbooks and instructional materials including flipcharts, video clips/slides, and the like, purchased/received for distribution. Credit this for issuance to ends, transfers or write-down.


Construction Materials for Distribution 1-04-02-080 Debit

Description

This is used to record cost of construction materials for distribution. Credit this for issuance to end-s, transfers or write-down .


Property and Equipment for Distribution 1-04-02-090 Debit

Description

This is used to record cost of property and equipment purchased/received for distribution. Credit this for issuance to end-s, transfers or write-down.


Other Supplies and Materials for Distribution 1-04-02-990 Debit

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Description

This is used to record cost of purchased/acquired inventories not falling under any of the specific inventory s held for distribution. Credit this for issuance to end-s, transfers or write-down.

03 Inventory Held for Manufacturing Title Number Normal Balance

Raw Materials Inventory 1-04-03-010 Debit

Description

This is used to record cost of unprocessed materials that serve as component of produced goods. Credit this for the issuance of raw materials for production, transfers or write-down of raw materials.


Work-in-Process Inventory 1-04-03-020 Debit

Description

This is used to record cost of goods still in the process of being manufactured or fabricated to produce an end product. Credit this upon completion of the product/inventory, transfers or write-down.


Finished Goods Inventory 1-04-03-030 Debit

Description

This is used to record cost of completed/manufactured product available for sale or use. Credit this for transfer to other inventory s or other disposal and write-down.

04 Inventory Held for Consumption Title Number Normal Balance

Office Supplies Inventory 1-04-04-010 Debit

Description

This is used to record the cost or value of purchased/acquired office supplies such as bond paper, ink, and small tangible items like staple wire remover, puncher, stapler and other similar items for use in the government operations. Credit this for issuance to end-s, transfers or other disposal.


able Forms, Plates and Stickers 1-04-04-020 Debit

Description

This is used to record the cost of able forms acquired for government operation. It includes able forms with and without face value, such as official receipts, ports, tickets, stickers, permit/license plates, LTO plates, and the like. Credit this for issuance to ends, transfers, or other disposal.


Non-able Forms Inventory 1-04-04-030 Debit

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Description

This is used to record the cost of non-able forms such as pre-printed application forms, tax returns forms, ing forms and the like. Credit this for issuance to end-s, transfers, or other disposal.


Animal/Zoological Supplies Inventory 1-04-04-040 Debit

Description

This is used to record the cost of food, medicines, veterinary and other maintenance needs of animals for use/consumption of government parks, zoos, wildlife sanctuaries and botanical gardens. This also includes supplies for zoological researches, preservations and the like. Credit this for issuance to end-s, transfers or other disposal.


Food Supplies Inventory 1-04-04-050 Debit

Description

This is used to record cost of food for hospital/rehabilitation patients, jail inmates and the like. Credit this for issuance to ends, transfers or other disposal.


Drugs and Medicines Inventory 1-04-04-060 Debit

Description

This is used to record the cost of drugs and medicines purchased/received for government operations. Credit this for issuance to end-s, transfers or other disposal.


Medical, Dental and Laboratory Supplies Inventory 1-04-04-070 Debit

Description

This is used to record the cost of medical, dental and laboratory supplies purchased/received for government operations. Credit this for issuance to end-s, transfers, or other disposal.


Fuel, Oil and Lubricants Inventory 1-04-04-080 Debit

Description

This is used to record the cost of fuel and oil in government depots and lubricants for use in government vehicles and other equipment in connection with government operations/projects. Credit this for issuance to end-s, transfers, or other disposal.


Agricultural and Marine Supplies Inventory 1-04-04-090 Debit

Description

This is used to record the cost of fertilizers, pesticides and other marine and agricultural supplies for use in government operations. This includes supplies for aquaculture researches, environment

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protection/preservations and the like. Credit this for issuance to end-s, transfers, or other disposal. Title Number Normal Balance

Textbooks and Instructional Materials Inventory 1-04-04-100 Debit

Description

This is used to record the cost of textbooks and instructional materials including flipcharts, video clips/slides, and the like, purchased/received for use in government schools operation. Credit this for issuance to end-s, transfers or other disposal.


Military, Police and Traffic Supplies Inventory 1-04-04-110 Debit

Description

This is used to record the cost of military, police and traffic supplies acquired for government operations such as truncheons, ammunitions, night sticks, clubs/cudgels, police/ traffic gears, flashlights, helmets and the like. Credit this for issuance to end-s, transfers or other disposal.

Title Number Normal Balance Description

Chemical and Filtering Supplies Inventory 1-04-04-120 Debit This is used to record cost of chemicals and filtering supplies for use in government operations. Credit this for issuance to ends, transfers or other disposal.


Construction Materials Inventory 1-04-04-130 Debit

Description

This is used to record cost of construction materials purchased/acquired for stock and later issuance for the construction, fabrication, repair and rehabilitation of government facilities. Credit this for issuance to projects, transfers or other disposal.


Other Supplies and Materials Inventory 1-04-04-990 Debit

Description

This is used to record cost of purchased/acquired inventories not falling under any of the specific supplies and materials inventory s held for consumption. Credit this for issuance, transfers or other disposal.

05 Prepayments and Deferred Charges 01 Prepayments Title Number Normal Balance

Advances to Contractors 1-05-01-010 Debit

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Description

This is used to record amount advanced to contractors as authorized by law. Credit this for recoupment of advances.


Prepaid Rent 1-05-01-020 Debit

Description

This is used to record the amount advanced/deposited for lease/rentals of property, plant and equipment used in government operations. Credit this for the expended amount.


Prepaid Registration 1-05-01-030 Debit

Description

This is used to record the amount advanced for registration of government property. Credit this for the expended amount.


Prepaid Interest 1-05-01-040 Debit

Description

This is used to record the amount advanced for interest of loans contracted by the government. Credit this for the expended amount.


Prepaid Insurance 1-05-01-050 Debit

Description

This is used to record the amount advanced for insurance of government properties. Credit this for the expended amount.


Other Prepayments 1-05-01-990 Debit

Description

This is used to record the amount prepayments not falling under any of the specific prepayment s. Credit this for the expended amount.

02 Deferred Charges Title Number Normal Balance

Discount on Advance Payments 1-05-02-010 Debit

Description

This is used to record the discounts given to taxpayer for paying real property tax in advance. Credit this for application of discount.

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06 Investment Property 01 Land and Buildings Title Number Normal Balance

Investment Property, Land 1-06-01-010 Debit

Description

This is used to record the cost of land or part of a land held by the owner (or by the lessee under a finance lease) to earn rentals or for capital appreciation or both. Credit this for disposal or reclassification to Property, Plant and Equipment.


Accumulated Impairment Losses - Investment Property, Land 1-06-01-011 Debit

Description

This is credited for the loss in the future economic benefit or service potential of the investment property. Debit this upon disposal of the asset or reversal of impairment loss.


Investment Property, Building 1-06-01-020 Debit

Description

This is used to record the cost of building or part of a building held by the owner (or by the lessee under a finance lease) to earn rentals or for capital appreciation or both. Credit this for disposal or reclassification to Property, Plant and Equipment.


Accumulated Depreciation - Investment Property, Buildings 1-06-01-021 Debit

Description

This is credited for the allocation of cost of building held as investment property in accordance with the prescribed policy on depreciation. Debit this upon disposal of the asset or reclassification to Property, Plant and Equipment .


Accumulated Impairment Losses - Investment Property, Buildings 1-06-01-022 Debit

Description

This is credited for the loss in the future economic benefit or service potential of the investment property. Debit this upon disposal of the asset or reversal of impairment loss.


Construction in Progress – Investment Property, Buildings 1-06-01-030 Debit

Description

This is used to record the accumulated cost or other appropriate value of Investment Property, Buildings still in the process of construction or development. Credit this for reclassification to the appropriate Investment Property upon completion.

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07 Property, Plant and Equipment 01 Land Title Number Normal Balance

Land 1-07-01-010 Debit

Description

This is used to record the cost incurred in the purchase or fair value if acquired through donation or transfers without cost of land. Credit this for disposal or reclassification to Investment Property.


Accumulated Impairment Losses -Land 1-07-01-011 Debit

Description

This is credited for the amount recognized to reduce the carrying cost of land to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment loss.

02 Land Improvements Title Number Normal Balance

Land Improvements - Aquaculture Structures 1-07-02-010 Debit

Description

This is used to record the cost incurred in the purchase or fair value, if acquired through donation or transfers without cost, of fishery and marine structures such as fishpond system, fish pens, fish tanks, and the like. Credit this for disposal or derecognition of the asset.


Accumulated Depreciation - Land Improvements, Aquaculture Structures 1-07-02-011 Credit

Description

This is credited for the allocation of cost of land improvements – aquaculture structures in accordance with the prescribed policy on depreciation. Debit this upon disposal or derecognition of the asset.

Title

Accumulated Impairment Losses - Land Improvements, Aquaculture Structures 1-07-02-012 Credit


This is credited for amount recognized to reduce the carrying value of land improvements, aquaculture structures to its recoverable amount. Debit this upon disposal or derecognition of the asset or reversal of impairment loss.


Other Land Improvements 1-07-02-990 Debit

Description

This is used to record the cost incurred in the purchase or fair value, if acquired through donation or transfers without cost, of land

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improvements such as parking lots, landscape, walkways, driveways, covered walks, fences, and the like. Credit this for disposal or derecognition of the asset. Title Number Normal Balance

Accumulated Depreciation – Other Land Improvements 1-07-02-991 Credit

Description

This is credited for the allocation of cost of land improvements – aquaculture structures in accordance with the prescribed policy on depreciation. Debit this upon disposal or derecognition of the asset.


Accumulated Impairment Losses – Other Land Improvements 1-07-02-992 Credit

Description

This is credited for amount recognized to reduce the carrying value of other land improvements to its recoverable amount. Debit this upon disposal or derecognition of the asset or reversal of impairment loss.

03 Infrastructure Assets Title Number Normal Balance

Road Networks 1-07-03-010 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of roads, highways and bridges, railways, subways, and other road network facilities such as footbridge, traffic lights and road signages for public use. Credit this for the derecognition of the carrying amount of the replaced portion. Subsidiary ledgers shall be maintained for each road and each component of the road.


Accumulated Depreciation - Road Networks 1-07-03-011 Credit

Description

This is used to record the allocation of cost of road networks in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset. Subsidiary ledger shall be maintained for the depreciation of each road component.


Accumulated Impairment Losses - Road Networks 1-07-03-012 Credit

Description

This is credited for the amount recognized to reduce the carrying value of road networks to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

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Subsidiary ledger shall be maintained for the impairment of each road component. Title Number Normal Balance

Flood Control System 1-07-03-020 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of seawalls, river walls, and other flood control system facilities for public use. Credit this for the derecognition of the carrying amount of the replaced portion.


Accumulated Depreciation - Flood Control System 1-07-03-021 Credit

Description

This is used to record the allocation of cost of flood control system in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses - Flood Control System 1-07-03-022 Credit

Description

This is credited for the amount recognized to reduce the carrying value of flood control system to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Sewer Systems 1-07-03-030 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of waste treatment plants and other sewer system facilities for public use. This also includes pumps, purification works, rising/gravity mains, air release valves, screens, overflows and associated infrastructures. Credit this for derecognition of the carrying amount of the replaced portion.


Accumulated Depreciation - Sewer Systems 1-07-03-031 Credit

Description

This is used to record the allocation of cost of sewer systems in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses - Sewer Systems 1-07-03-032 Credit

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Description

This is credited for the amount recognized to reduce the carrying value of sewer systems to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Water Supply Systems 1-07-03-040 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of water source facility such as artesian wells, dams/reservoirs, pumping stations and conduits; irrigation canals and laterals; waterways, aqueducts, water utilities systems and other water supply facilities for public use or for income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion.


Accumulated Depreciation - Water Supply Systems 1-07-03-041 Credit

Description

This is used to record the allocation of cost of water supply systems in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses - Water Supply Systems 1-07-03-042 Credit

Description

This is credited for the amount recognized to reduce the carrying value of water supply systems to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Power Supply Systems 1-07-03-050 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of installations for generation and distribution of electricity such as power stations, electric transformers and other power and energy supply facilities for public use or for income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion.


Accumulated Depreciation - Power Supply Systems 1-07-03-051 Credit

Description

This is used to record the allocation of cost of power supply systems in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses - Power Supply Systems 1-07-03-052 Credit

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Description

This is credited for the amount recognized to reduce the carrying value of the power supply systems to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Communication Networks 1-07-03-060 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of communication networks such as towers/transmitters/ transceivers and other communication/telecommunication facilities for public use or for income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion.


Accumulated Depreciation - Communication Networks 1-76-03-061 Credit

Description

This is used to record the allocation of cost of communication network in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses - Communication Networks 1-07-03-062 Credit

Description

This is credited for the amount recognized to reduce the carrying value of the communication networks to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Seaport Systems 1-07-03-070 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of ports, lighthouses, harbors and other seaport facilities, for public use or for income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion.


Accumulated Depreciation - Seaport Systems 1-07-03-071 Credit

Description

This is used to record the allocation of cost of seaport systems in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses - Seaport Systems 1-07-03-072 Credit

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Description

This is credited for the amount recognized to reduce the carrying value of the seaport systems to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Airport Systems 1-07-03-080 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of landing and taking-off area for aircraft, enger arrival and departure area, facilities for aircraft maintenance, and other airport facilities such as airport runways and taxiways, radio beacon, aprons, and the like, for public use or for income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion.


Accumulated Depreciation - Airport Systems 1-07-03-081 Credit

Description

This is used to record the allocation of cost of airport systems in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses - Airport Systems 1-07-03-082 Credit

Description

This is credited for the amount recognized to reduce the carrying value of the airport systems to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Parks, Plazas and Monuments 1-07-03-090 Debit

Description

This is used to record the cost incurred in the construction or fair value, if acquired through donation or transfers without cost, of parks, plazas and monuments, not classified as Heritage Assets, for recreation and public use or for income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion.


Accumulated Depreciation - Parks, Plazas and Monuments 1-07-03-091 Credit

Description

This is used to record the allocation of cost of parks, plazas and monuments in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses - Parks, Plazas and Monuments 1-07-03-092 Credit

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Description

This is credited for the amount recognized to reduce the carrying value of the parks, plazas and monuments to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Other Infrastructure Assets 1-07-03-990 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of other public infrastructures which cannot be classified under any specific type of public infrastructures for public use or for income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion.


Accumulated Depreciation - Other Infrastructure Assets 1-07-03-991 Credit

Description

This is used to record the allocation of cost of other infrastructure assets in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses - Other Infrastructure Assets 1-07-03-092 Credit

Description

This is credited for the amount recognized to reduce the carrying value of the other infrastructure assets to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

04 Buildings and Other Structures Title Number Normal Balance

Buildings 1-07-04-010 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of buildings, such as: office buildings, research/convention/training centers, agricultural laboratories, warehouses, cold storage and the like, for use in government operations. Credit this for derecognition of the carrying amount of the replaced portion in major repairs, disposal or reclassification to Investment Property. Subsidiary ledgers shall be maintained for the components of the building depreciated separately from the building.


Accumulated Depreciation - Buildings 1-07-04-011 Credit

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Description

This is used to record the allocation of cost of buildings in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses - Buildings 1-07-04-012 Credit

Description

This is credited for the amount recognized to reduce the carrying value of the buildings to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


School Buildings 1-07-04-020 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of school buildings for the implementation of government’s education/learning programs. Credit this for derecognition of the carrying amount of the replaced portion in major repairs, or disposal.


Accumulated Depreciation – School Buildings 1-07-04-021 Credit

Description

This is used to record the allocation of cost of school buildings in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – School Buildings 1-07-04-022 Credit

Description

This is credited for the amount recognized to reduce the carrying value of the school buildings to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Hospitals and Health Centers 1-07-04-030 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of hospitals and health centers, for use in the delivery of public health services. Credit this for derecognition of the carrying amount of the replaced portion in major repairs, or disposal. Subsidiary ledgers shall be maintained for the components of the hospitals and health centers depreciated separately.


Accumulated Depreciation – Hospitals and Health Centers 1-07-04-031 Credit

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Description

This is used to record the allocation of cost of hospitals and health centers in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Hospitals and Health Centers 1-07-04-032 Credit

Description

This is credited for the amount recognized to reduce the carrying value of the hospitals and health centers to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Markets 1-07-04-040 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of markets for income generation. Credit this for derecognition of the carrying amount of the replaced portion in major repairs, or disposal.


Accumulated Depreciation – Markets 1-07-04-041 Credit

Description

This is used to record the allocation of cost of markets in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Markets 1-07-04-042 Credit

Description

This is credited for the amount recognized to reduce the carrying value of the markets to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Slaughterhouses 1-07-04-050 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of facilities where farm animals are butchered and processed. Credit this for derecognition of the carrying amount of the replaced portion in major repairs, or disposal.


Accumulated Depreciation – Slaughterhouses 1-07-04-051 Credit

Description

This is used to record the allocation of cost of slaughterhouses in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

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Accumulated Impairment Losses – Slaughterhouses 1-07-04-052 Credit

Description

This is credited for the amount recognized to reduce the carrying value of the slaughterhouses to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Hostels and Dormitories 1-07-04-060 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of hostels and dormitories for use in the operation/commercial and/or income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion in major repairs, or disposal.


Accumulated Depreciation – Hostels and Dormitories 1-07-04-061 Credit

Description

This is used to record the allocation of cost of hostels and dormitories in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Hostels and Dormitories 1-07-04-062 Credit

Description

This is credited for the amount recognized to reduce the carrying value of hostels and dormitories to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Other Structures 1-07-04-990 Debit

Description

This is used to record the cost incurred in the purchase or construction or fair value, if acquired through donation or transfers without cost, of other structures for use in government operations or for income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion in major repairs, or disposal.


Accumulated Depreciation – Other Structures 1-07-04-991 Credit

Description

This is used to record the allocation of cost of other structures in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

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Accumulated Impairment Losses – Other Structures 1-07-04-992 Credit

Description

This is credited for the amount recognized to reduce the carrying value of other structures to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

05 Machinery and Equipment Title Number Normal Balance

Machinery 1-07-05-010 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without cost, of machinery. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Machinery 1-07-05-011 Credit

Description

This is used to record the allocation of cost of machinery in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Machinery 1-07-05-012 Credit

Description

This is credited for the amount recognized to reduce the carrying value of machinery to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Office Equipment 1-07-05-020 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without cost, of office equipment for use in government operations. It includes duplicating/photocopying machines, air conditioning units and the like. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Office Equipment 1-07-05-021 Credit

Description

This is used to record the allocation of cost of other office equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

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Accumulated Impairment Losses – Office Equipment 1-07-05-022 Credit

Description

This is credited for the amount recognized to reduce the carrying value of office equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Information and Communication Technology Equipment 1-07-05-030 Debit

Description

This is used to record the cost incurred in the purchase of information and communication technology equipment, which includes hardware (computers, printers, scanners, and the like) and pre-loaded software such as but not limited to operating systems which are included in the cost of the computer hardware. This also includes data communications equipment and such other peripherals and auxiliary equipment necessary to put the system into operational mode. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.

Title

Accumulated Depreciation – Information and Communication Technology Equipment 1-07-05-031 Credit


This is used to record the allocation of cost of information and communication technology equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

Title

Accumulated Impairment Losses – Information and Communication Technology Equipment 1-07-05-032 Credit


This is credited for the amount recognized to reduce the carrying value of information and communication technology equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Agricultural and Forestry Equipment 1-07-05-040 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without cost, of agricultural and forestry equipment. It includes threshing and milling machines, plow, saw used in cutting/trimming/pruning trees, grass cutting machines, and the like. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Agricultural and Forestry Equipment 1-07-05-041 Credit

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Description

This is used to record the allocation of cost of agricultural and forestry equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

Title

Accumulated Impairment Losses – Agricultural and Forestry Equipment 1-07-05-042 Credit


This is credited for the amount recognized to reduce the carrying value of agricultural and forestry equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Marine and Fishery Equipment 1-07-05-050 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without cost, of marine and fishery equipment. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Marine and Fishery Equipment 1-07-05-051 Credit

Description

This is used to record the allocation of cost of marine and fishery equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

Title

Accumulated Impairment Losses – Marine and Fishery Equipment 1-07-05-052 Credit


This is credited for the amount recognized to reduce the carrying value of marine and fishery equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Airport Equipment 1-07-05-060 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without cost, of airport equipment for use in government operations. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Airport Equipment 1-07-05-061 Credit

Description

This is used to record the allocation of cost of airport equipment in accordance with the prescribed policy on depreciation. Debit this

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upon derecognition of the asset. Title Number Normal Balance

Accumulated Impairment Losses – Airport Equipment 1-07-05-062 Credit

Description

This is credited for the amount recognized to reduce the carrying value of airport equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Communication Equipment 1-07-05-070 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without cost, of communication equipment for use in government operations. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Communication Equipment 1-07-05-071 Credit

Description

This is used to record the allocation of cost of communication equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Communication Equipment 1-07-05-072 Credit

Description

This is credited for the amount recognized to reduce the carrying value of communication equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Construction and Heavy Equipment 1-07-05-080 Debit

Description

This is used to record the cost incurred in the purchase or fair value, if acquired through donation or transfers without cost, of construction and heavy equipment for use in government operations, such as: bulldozers, forklifts, graders, payloader, dump trucks, and the like. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Construction and Heavy Equipment 1-07-05-081 Credit

Description

This is used to record the allocation of cost of construction and heavy equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

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Accumulated Impairment Losses – Construction and Heavy Equipment 1-07-05-082 Credit

Description

This is credited for the amount recognized to reduce the carrying value of construction and heavy equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Disaster Response and Rescue Equipment 1-07-05-090 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without cost, of equipment used solely for disaster response and rescue activities. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal. Subsidiary Ledgers: 01 – Firefighting Equipment and Accessories 02 - Flood Rescue Equipment 03 - Earthquake Rescue Equipment 04 - Volcanic Eruption Rescue Equipment 05 - Landslide Rescue Equipment


Accumulated Depreciation – Disaster Response and Rescue Equipment 1-07-05-091 Credit

Description

This is used to record the allocation of cost of disaster response and rescue equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

Title

Accumulated Impairment Losses – Disaster Response and Rescue Equipment 1-07-05-092 Credit


This is credited for the amount recognized to reduce the carrying value of disaster response and rescue equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Military, Police and Security Equipment 1-07-05-100 Debit

Description

This is used to record the cost incurred in the purchase or fair value, if acquired through donation or transfers without cost, of military, police and security equipment acquired for use in government operations, such as: guns, armored vehicles, bomber aircraft, military tanks, mobile cars, patrol boats, navy ships, closed circuit television, security cameras, etc. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.

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Accumulated Depreciation – Military, Police and Security Equipment 1-07-05-101 Credit

Description

This is used to record the allocation of cost of military, police and security equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Military, Police and Security Equipment 1-07-05-102 Credit

Description

This is credited for the amount recognized to reduce the carrying value of military, police and security equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Medical Equipment 1-07-05-110 Debit

Description

This is used to record the cost incurred in the purchase or fair value if acquired through donation or transfers without cost of medical equipment acquired for delivery of medical services, such as: diagnostic equipments, (i.e. ultrasound, magnetic resonance imaging, CT scan, x-ray, reflex hammer, etc.), therapeutic equipment (i.e. infusion pumps, medical lasers, surgical machines, etc.), life (i.e. ventilators, dialysis, etc.), monitors (electrocardiograph, electroencephalograph, sphygmomanometer, stethoscope, etc.). It also includes hospital beds, medicine trolleys, medical furniture, (stretchers, wheelchair), mobile clinics; and other hospital, dental and laboratory equipment. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Medical Equipment 1-07-05-111 Credit

Description

This is used to record the allocation of cost of medical equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Medical Equipment 1-07-05-112 Credit

Description

This is credited for the amount recognized to reduce the carrying value of medical equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Printing Equipment 1-07-05-120 Debit

Description

This is used to record the cost incurred in the purchase or fair value, if acquired through donation or transfers without cost, of large

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printing equipment, such as offset press, letter press, bindery equipment, prepress machine, and the like, for use in government printing needs. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal. Title Number Normal Balance

Accumulated Depreciation – Printing Equipment 1-07-05-121 Credit

Description

This is used to record the allocation of cost of printing equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Printing Equipment 1-07-05-122 Credit

Description

This is credited for the amount recognized to reduce the carrying value of printing equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Sports Equipment 1-07-05-130 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without cost, of sports equipment for use in the government’s promotion of sports, such as: treills, stationary bikes, weights, gymnastic facilities, boxing rings, basketball goals, and the like. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Sports Equipment 1-07-05-131 Credit

Description

This is used to record the allocation of cost of sports equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Sports Equipment 1-07-05-132 Credit

Description

This is credited for the amount recognized to reduce the carrying value of sports equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Technical and Scientific Equipment 1-07-05-140 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without

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cost, of technical and scientific equipment for use in government operations, such as survey equipments (telescopes, laser distance meters), weather tracking equipment, cartographic, photographic and reprographic equipments, and other specialized equipments, (i.e. musical instruments), and the like. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal. Title Number Normal Balance

Accumulated Depreciation – Technical and Scientific Equipment 1-07-05-141 Credit

Description

This is used to record the allocation of cost of technical and scientific equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Technical and Scientific Equipment 1-07-05-142 Credit

Description

This is credited for the amount recognized to reduce the carrying value of technical and scientific equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Other Machinery and Equipment 1-07-05-990 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without cost, of other machinery and equipment, not otherwise classified under the specific equipment s. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Other Machinery and Equipment 1-07-05-991 Credit

Description

This is used to record the allocation of cost of other machinery and equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Other Machinery and Equipment 1-07-05-992 Credit

Description

This is credited for the amount recognized to reduce the carrying value of other machinery and equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

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06 Transportation Equipment


Motor Vehicles 1-07-06-010 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without cost, of motor vehicles for official use such as service vehicles (cars, bus, motorcycles, and the like). Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Motor Vehicles 1-07-06-011 Credit

Description

This is used to record the allocation of cost of motor vehicles in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Motor Vehicles 1-07-06-012 Credit

Description

This is credited for the amount recognized to reduce the carrying value of motor vehicles to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Trains 1-07-06-020 Debit

Description

This is used to record the cost incurred in the purchase or fair value, if acquired through donation or transfers without cost, of trains for public use. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Trains 1-07-06-021 Credit

Description

This is used to record the allocation of cost of trains in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Trains 1-07-06-022 Credit

Description

This is credited for the amount recognized to reduce the carrying value of motor vehicles to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

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Aircrafts and Aircrafts Ground Equipment 1-07-06-030 Debit

Description

This is used to record the cost incurred in the purchase or fair value, if acquired through donation or transfers without cost, of aircrafts and aircrafts ground equipment for civil aviation to transport engers, equipments and goods. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Aircrafts and Aircrafts Ground Equipment 1-07-06-031 Credit

Description

This is used to record the allocation of cost of aircrafts and aircrafts ground equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

Title

Accumulated Impairment Losses – Aircrafts and Aircrafts Ground Equipment 1-07-06-032 Credit


This is credited for the amount recognized to reduce the carrying value of aircrafts and aircrafts ground equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Watercrafts 1-07-06-040 Debit

Description

This is used to record the cost incurred in the purchase or assembly or fair value, if acquired through donation or transfers without cost, of watercrafts used to ferry engers, equipment and goods for government operations or public use such as ships, small vessels, speedboats, motor boats, rafts and bancas. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Watercrafts 1-07-06-041 Credit

Description

This is used to record the allocation of cost of watercrafts in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Watercrafts 1-07-06-042 Credit

Description

This is credited for the amount recognized to reduce the carrying value of watercrafts to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

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Other Transportation Equipment 1-07-06-990 Debit

Description

This is used to record the cost incurred in the purchase or assembly, or fair value, if acquired through donation or transfers without cost, of other transportation equipment which are not classified under the specific transportation equipment s. Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Other Transportation Equipment 1-07-06-991 Credit

Description

This is used to record the allocation of cost of other transportation equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Other Transportation Equipment 1-07-06-992 Credit

Description

This is credited for the amount recognized to reduce the carrying value of other transportation equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

07 Furniture, Fixtures and Books Title Number Normal Balance

Furniture and Fixtures 1-07-07-010 Debit

Description

This is used to record the cost of acquisition or assembly, or fair value, if acquired through donation or transfers without cost, of furniture and fixtures for use in government operations. Credit this for disposal (sale, transfers, destruction) and adjustments.


Accumulated Depreciation – Furniture and Fixtures 1-07-07-011 Credit

Description

This is used to record the allocation of cost of furniture and fixtures in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Furniture and Fixtures 1-07-07-012 Credit

Description

This is credited for the amount recognized to reduce the carrying value of furniture and fixtures to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

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Books 1-07-07-020 Debit

Description

This is used to record the cost of acquisition or production, or fair value, if acquired through donation or transfers without cost, of books and other reference materials including those in electronic copies (in CD/DVD), for use in government operations. Credit this for disposal.


Accumulated Depreciation – Books 1-07-07-021 Credit

Description

This is used to record the allocation of cost of books in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Books 1-07-07-022 Credit

Description

This is credited for the amount recognized to reduce the carrying value of books to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

08 Leased Assets Title Number Normal Balance

Leased Assets - Land 1-07-08-010 Debit

Description

This is used to record the value of land under a finance lease. Credit this to reclassify to the land upon full payment of lease or to close the upon termination of the lease contract.


Accumulated Impairment Losses – Leased Assets, Land 1-07-08-011 Credit

Description

This is credited for the amount recognized to reduce the carrying value of land under finance lease to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Leased Assets – Buildings and Other Structures 1-07-08-020 Debit

Description

This is used to record the value of buildings and other structures under a finance lease. Credit this to reclassify to the buildings and other structures upon full payment of lease or to close the upon termination of the lease contract.

Title Number

Accumulated Depreciation – Leased Assets, Buildings and Other Structures 1-07-08-021

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Normal Balance

Credit

Description

This is used to record the allocation of cost of buildings and structures under finance lease in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

Title

Accumulated Impairment Losses – Leased Assets, Buildings and Other Structures 1-07-08-022 Credit


This is credited for the amount recognized to reduce the carrying value of building and other structures under finance lease to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Leased Assets – Machinery and Equipment 1-07-08-030 Debit

Description

This is used to record the value of machinery and equipment under a finance lease. Credit this to reclassify to the machinery and equipment upon full payment of lease or to close the upon termination of the lease contract


Accumulated Depreciation – Leased Assets, Machinery and Equipment 1-07-08-031 Credit

Description

This is used to record the allocation of cost of machinery and equipment under finance lease in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

Title

Accumulated Impairment Losses – Leased Assets, Machinery and Equipment 1-07-08-032 Credit


This is credited for the amount recognized to reduce the carrying value of machinery and equipment under finance lease to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Leased Assets – Transportation Equipment 1-07-08-040 Debit

Description

This is used to record the value of transportation equipment under a finance lease. Credit this to reclassify to the transportation equipment upon full payment of lease or to close the upon termination of the lease contract.


Accumulated Depreciation – Leased Assets, Transportation Equipment 1-07-08-041 Credit

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Description

This is used to record the allocation of cost of transportation equipment under finance lease in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.

Title

Accumulated Equipment 1-07-08-042 Credit

Number Normal Balance

Impairment

Losses

–

Leased

Assets,

Transportation

Description

This is credited for the amount recognized to reduce the carrying value of transportation equipment under finance lease to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Other Leased Assets 1-07-08-990 Debit

Description

This is used to record the value of other property, plant and equipment under a finance lease. Credit this to reclassify to the appropriate property, plant and equipment upon full payment of lease or to close the upon termination of the lease contract.


Accumulated Depreciation – Other Leased Assets 1-07-08-991 Credit

Description

This is used to record the allocation of cost of other leased assets under finance lease in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Other Leased Assets 1-07-08-992 Credit

Description

This is credited for the amount recognized to reduce the carrying value of other leased assets under finance lease to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

09 Leased Asset Improvements Title Number Normal Balance

Leased Asset Improvements, Land 1-07-09-010 Debit

Description

This is used to record the cost of improvements and alterations made on leased land under operating lease which is used for government operations or for commercial and/or income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion in major repairs, disposal or termination of lease contract.


Accumulated Depreciation – Leased Asset Improvements, Land 1-07-09-011 Credit

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Description

This is used to record the allocation of cost of leased assets improvements on land under operating lease in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Leased Asset Improvements, Land 1-07-09-012 Credit

Description

This is credited for the amount recognized to reduce the carrying value of leased assets improvements on land under operating lease to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Leased Asset Improvements , Buildings 1-07-09-020 Debit

Description

This is used to record the cost incurred in the construction of improvements on buildings under operating lease for use in government operations or for commercial and/or income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion in major repairs, disposal or termination of lease contract.


Accumulated Depreciation – Leased Asset Improvements, Buildings 1-07-09-021 Credit

Description

This is used to record the allocation of cost of improvements on buildings under operating lease in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Leased Asset Improvements, Buildings 1-07-09-022 Credit

Description

This is credited for the amount recognized to reduce the carrying value of leased asset improvements on buildings under operating lease to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Other Leased Asset Improvements 1-07-09-990 Debit

Description

This is used to record the cost incurred in the construction of improvements on other assets/structures under operating lease for use in government operations or for commercial and/or income generating purposes. Credit this for derecognition of the carrying amount of the replaced portion in major repairs, disposal or termination of lease contract.


Accumulated Depreciation – Other Leased Asset Improvements 1-07-09-991 Credit

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Description

This is used to record the allocation of cost of improvements on other leased assets/structures under operating lease in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Other Leased Asset Improvements 1-07-09-992 Credit

Description

This is credited for the amount recognized to reduce the carrying value of leased asset improvements on other assets/structures under operating lease to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

10 Construction in Progress Title Number Normal Balance

Construction in Progress - Land Improvements 1-07-10-010 Debit

Description

This is used to record the accumulated cost or other appropriate value of land improvements still in the process of construction or development. Credit this for reclassification to the appropriate Land Improvement upon completion.


Construction in Progress – Infrastructure Assets 1-07-10-020 Debit

Description

This is used to record the accumulated cost or other appropriate value of infrastructure assets which are still in the process of construction or acquisition. Credit this for reclassification to the appropriate Infrastructure Asset upon completion.


Construction in Progress – Buildings and Other Structures 1-07-10-030 Debit

Description

This is used to record the accumulated cost or other appropriate value of buildings and other structures which are still in the process of construction or development. Credit this for reclassification to the appropriate Buildings and Other Structures upon completion.


Construction in Progress – Leased Assets 1-07-10-040 Debit

Description

This is used to record the accumulated cost or other appropriate value of assets under finance lease, still in the process of construction or development. Credit this for reclassification to the appropriate Leased Assets Improvement upon completion.

Title Number

Construction in Progress – Leased Assets Improvements 1-07-10-050

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Normal Balance

Debit

Description

This is used to record the accumulated cost or other appropriate value of l improvements still in the process of construction or development on assets under operating lease. Credit this for reclassification to the appropriate Leased Assets Improvements upon completion.

11 Service Concession Assets Title Number Normal Balance

Service Concession Assets 1-07-11-010 Debit

Description

This is used to record the cost or fair value of assets recognized under service concession arrangements. Credit this upon derecognition or transfer after the end of the concession agreement. Maintain subsidiary ledger for each line of concession arrangement.


Accumulated Depreciation – Service Concession Assets 1-07-11-011 Credit

Description

This is used to record the allocation of cost of service concession assets in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Service Concession Assets 1-07-11-012 Credit

Description

This is credited for the amount recognized to reduce the carrying value of service concession assets to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

99 Other Property, Plant and Equipment Title Number Normal Balance

Work/Zoo Animals 1-07-99-010 Debit

Description

This is used to record the cost or fair value, if acquired through donation or transfers without cost, of animals acquired by an agency for use in its operations, entertainment or recreation. This includes animals used in detective services, in zoos, wildlife sanctuaries, aviaries, aquariums, and the like. Credit this for transfer to other agency or other disposal.


Accumulated Depreciation – Work/Zoo Animals 1-07-99-011 Credit

Description

This is used to record the allocation of cost of work/zoo animals in accordance with the prescribed policy on depreciation. Debit this

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upon derecognition of the asset. Title Number Normal Balance

Accumulated Impairment Losses – Work/Zoo Animals 1-07-09-012 Credit

Description

This is credited for the amount recognized to reduce the carrying value of work/zoo animals to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Other Property, Plant and Equipment 1-07-99-990 Debit

Description

This is used to record the cost of acquisition or fair value, if acquired through donation or transfers without cost, of other property, plant and equipment not falling under any of the specific property, plant and equipment . Credit this for derecognition of the carrying amount of the replaced parts in major repairs, or disposal.


Accumulated Depreciation – Other Property, Plant and Equipment 1-07-99-991 Credit

Description

This is used to record the allocation of cost of other property, plant and equipment in accordance with the prescribed policy on depreciation. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Other Property, Plant and Equipment 1-07-09-992 Credit

Description

This is credited for the amount recognized to reduce the carrying value of other property, plant and equipment to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

08 Biological Assets 01 Bearer Biological Assets Title Number Normal Balance

Breeding Stocks 1-08-01-010 Debit

Description

This is used to record the cost or fair value, if acquired through donation or transfers without cost, of breeding stocks such as carabao, horse, swine and the like. Credit this for sale, loss or death.


Plants and Trees 1-08-01-020 Debit

Description

This is used to record the cost or fair value, if acquired through

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donation or transfers without cost, of trees for forestry, bearer plants, annual or perennial cropping, cultivating orchards and plantations. Credit this upon disposal or derecognition of asset. Title Number Normal Balance

Aquaculture 1-08-01-030 Debit

Description

This is used to record the cost or fair value, if acquired through donation or transfers without cost, of fishes and other marine species. Credit this disposal or derecognition of asset.


Other Bearer Biological Assets 1-08-01-990 Debit

Description

This is used to record the cost or fair value, if acquired through donation or transfers without cost, of other agricultural biological assets not falling under any of the specific biological assets . Credit this for sale, loss or death.

09 Intangible Assets 01 Intangible Assets Title Number Normal Balance

Patents/Copyrights 1-09-01-010 Debit

Description

This is used to record the cost of obtaining an exclusive legal right for an invention to enable its holder to manufacture, sell and control an item or process. Credit this for disposal, expiration and/or revocation of the patent/copyright.


Accumulated Amortization – Patents/Copyrights 1-09-01-011 Credit

Description

This is used to record the allocation of cost of patents/copyrights in accordance with the prescribed policy on amortization. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Patents/Copyrights 1-09-01-012 Credit

Description

This is credited for the amount recognized to reduce the carrying value of patents/copyrights to its recoverable amount due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Computer Software 1-09-01-020 Debit

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Description

This is used to record the purchase cost or capitalized development cost of computer software program for use in government operation. Development costs include cost of coding, testing and cost to produce product masters. Credit this for obsolescence.


Accumulated Amortization – Computer Software 1-09-01-021 Credit

Description

This is used to record the allocation of cost of computer software in accordance with the prescribed policy on amortization. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Computer Software 1-09-01-022 Credit

Description

This is credited for the amount recognized to reduce the carrying value of computer software to its recoverable amount or service potential due to impairment. Debit this upon derecognition of the asset or reversal of impairment.


Other Intangible Assets 1-09-01-990 Debit

Description

This is used to record the cost of obtaining other non-monetary assets without physical substance which grants the owner legal and contractual rights and future economic benefits not otherwise classified under the specific intangible assets . This includes trademarks, motion picture films, marketing rights, franchise and the like. Credit this for termination and/or revocation of rights and benefits.


Accumulated Amortization – Other Intangible Assets 1-09-01-991 Credit

Description

This is used to record the allocation of cost of other intangible assets in accordance with the prescribed policy on amortization. Debit this upon derecognition of the asset.


Accumulated Impairment Losses – Other Intangible Assets 1-09-01-992 Credit

Description

This is credited for the amount recognized to reduce the carrying value of other intangible assets to its recoverable amount or service potential due to impairment. Debit this upon derecognition of the asset or reversal of impairment.

02 Service Concession- Intangible Assets Title Number Normal Balance

Service Concession Assets – Intangible Assets 1-09-02-010 Debit

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Description

This is debited for the amount recognized representing the cost of intangible assets Debit this upon derecognition of the asset or reversal of impairment.

2 LIABILITIES 01 Financial Liabilities 01 Payables Title Number Normal Balance

s Payable 2-01-01-010 Credit

Description

This is used to record receipt of goods or services on in the normal course of trade and business operation. Debit this for payment or settlement of liabilities.


Due to Officers and Employees 2-01-01-020 Credit

Description

This is used to record incurrence of liability to officers and employees for salaries, benefits and other emoluments. Debit this for settlement or payment to officers and employees.


Notes Payable 2-01-01-040 Credit

Description

This is used to record issuance of promissory notes. Debit this for payment or settlement of promissory notes.


Interest Payable 2-01-01-050 Credit

Description

This is used to record accrual of interest on loans/bonds or other indebtedness, whether short-term or long-term. Debit this for payment of the interest.


Operating Lease Payable 2-01-01-060 Credit

Description

This is used to record incurrence of liability arising from operating lease contract. Debit this for payment of lease.


Finance Lease Payable 2-01-01-070 Credit

Description

This is used to record incurrence of liability arising from finance lease contract. Debit this for payment of lease.

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Awards and Rewards Payable 2-01-01-080 Credit

Description

This is used to record granting of awards in recognition of any civic or professional achievement and of rewards to informers for the receipt of reliable information leading to successful arrest/capture of fugitives, seizure/confiscation of smuggled goods, or collection/recovery of unpaid taxes/surcharges/fines/penalties. Debit this for payment to the grantee of the award/reward.


Service Concession Arrangement Payable 2-01-01-090 Credit

Description

This is used to record the liability arising from unconditional obligation of the grantor to make payments to the operator upon recognition of service concession assets. Debit this for payment.


Pension Benefits Payable 2-01-01-100 Credit

Description

This is used to record accrual of pension to government employees. Debit this for payment of pension benefits.


Leave Benefits Payable 2-01-01-110 Credit

Description

This is used to record the money value of the earned leave credits of government personnel. Debit this for payment of leave benefits.


Retirement Gratuity Payable 2-01-01-120 Credit

Description

This is used to record the liability for retirement gratuity benefits due to government personnel. Debit this upon payment of retirement gratuity benefits.

02 Bills/Bonds/Loans Payable Title Number Normal Balance

Bonds Payable - Domestic 2-01-02-020 Credit

Description

This is used to record issuances/flotation of peso-denominated bonds. Debit this for redemptions of bonds.


Discount on Bonds Payable - Domestic 2-01-02-021 Debit

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Description

This is used to record discounts on issuance of peso-denominated bonds. Credit this for amortization of the discount.


on Bonds Payable - Domestic 2-01-02-022 Credit

Description

This is used to record s on issuance of peso-denominated bonds. Debit this for amortization of the .


Loans Payable – Domestic 2-01-02-040 Credit

Description

This is used to record receipt of loan proceeds (cash or non-cash) from local creditors. Debit this for payments of loan amortization.


Loans Payable – Foreign 2-01-02-050 Credit

Description

This is used to record receipt of loan proceeds (cash or non-cash) from foreign governments or international financial institutions. Debit this for payments of loan amortization.

02 Inter-Agency Payables 01 Inter-Agency Payables Title Number Normal Balance

Due to BIR 2-02-01-010 Credit

Description

This is used to record withholding of taxes from officers/employees and other entities. Debit this for remittance of the taxes withheld to the Bureau of Internal Revenue (BIR).


Due to GSIS 2-02-01-020 Credit

Description

This is used to record the withholding of employees’ payment and other payables for remittance to the Government Service Insurance System (GSIS). Debit this for the remittance of withheld amount. Subsidiary Ledgers: 01 - Life and Retirement 02 - ECC 03 - Salary Loan 04 - Policy Loan


Due to Pag-IBIG 2-02-01-030 Credit

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Description

This is used to record the withholding of employees’ payment and other payables for remittance to the Home Development Mutual Fund (HDMF). Debit this for the remittance of withheld amount. Subsidiary Ledgers: 01 – Pag-ibig 02 – Pag-ibig Multi-Purpose Loan 03 - Pag-ibig Housing Loan


Due to PhilHealth 2-02-01-040 Credit

Description

This is used to record the withholding of employees’ payment for remittance to the Philippine Health Insurance Corporation (PHIC). Debit this for the remittance of withheld amount.


Due to National Government Agencies 2-02-01-050 Credit

Description

This is used to record the receipt of funds for delivery of goods/services as authorized by law, fund transfers from NGAs for implementation of specific programs or projects and other inter-agency transactions. Debit this for delivery of goods /services, liquidation of funds received and settlement of liabilities.


Due to GOCCs 2-02-01-060 Credit

Description

This is used to record the receipt of: a) funds for delivery of goods/services as authorized by law; b) fund transfers from the GOCCs for the implementation of specific programs or projects; c) NG-managed fund; d) escrow s; e) collateral deposits for the of GOCCs/GFIs; and f) other inter-agency transactions except those pertaining to GSIS, Philhealth and Pag-ibig. Debit this for delivery of goods /services, liquidation/release of funds received and settlement of liabilities.


Due to LGUs 2-02-01-070 Credit

Description

This is used to record the receipt of funds for delivery of goods/services as authorized by law, fund transfers from LGUs for the implementation of specific programs or projects, share in LGU income and other inter-agency transactions. Debit this for delivery of goods/services, liquidation of funds received, receipt of share in LGU income and settlement of liabilities.


Due to t Venture 2-02-01-080 Credit

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Description

This is used to record the amounts payable to t venture. Debit this for settlement of liabilities.

03 Intra-Agency Payables 01 Intra-Agency Payables Title Number Normal Balance

Due to Other Funds 2-03-01-010 Credit

Description

This is used to record the authorized receipt of funds from one fund to another fund maintained by the same agency. Debit this for transfer of the funds to another fund. The Subsidiary Ledgers shall be the different funds maintained by the agency.


Due to Special s 2-03-01-020 Credit

Description

This is used to record the authorized receipt of funds from one special to another maintained by the same agency. Debit this for transfer of the funds. The Subsidiary Ledgers shall be the different special s in the general fund of the agency.


Due to Local Economic Enterprise 2-03-01-030 Credit

Description

This is used to record the authorized receipt of funds from one local economic enterprise to another maintained in the same fund of the agency. Debit this for transfer of the funds. The Subsidiary Ledgers shall be the different maintained of the agency.

local economic enterprise

04 Trust Liabilities 01 Trust Liabilities Title Number Normal Balance

Trust Liabilities 2-04-01-010 Credit

Description

This is used to record the receipt of amount held in trust for specific purpose. Debit this for payment or settlement of the liability or compliance of condition.

Title Number

Trust Liabilities – Disaster Risk Reduction and Management Fund 2-04-01-020

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Normal Balance

Credit

Description

This is used to record the receipt of amount held in trust for disaster risk reduction and management fund. Debit this for settlement or compliance of the condition. Subsidiary ledgers shall be maintained based on source. Unspent DRRM funds of LGUs from current year appropriations shall likewise maintain subsidiary ledger by year.


Bail Bonds Payable 2-04-01-030 Credit

Description

This is used to record the incurrence of liability arising from the receipt of cash bond from a person who is in the custody of the law to guaranty his appearance in court at the appointed day and time or the compliance with the conditions of the bond. Debit this for refund or forfeiture of the bond.


Guaranty/Security Deposits Payable 2-04-01-040 Credit

Description

This is used to record the incurrence of liability arising from the receipt of cash or cash equivalents to guaranty (a) that the winning bidder shall enter into contract with the procuring entity; and (b) performance by the contractor of the of the contract. Debit this for refund after the fulfillment of the purpose of the bond or forfeiture upon failure to comply with the purpose of the bond.


Customers’ Deposits 2-04-01-050 Credit

Description

This is used to record the receipt of cash deposits from customers for goods/services to be delivered and property to be leased. Debit this upon application of the deposit to the cost of the goods/services delivered and of the damages to the leased property.

05 Deferred Credits/Unearned Income 01 Deferred Credits Title Number Normal Balance

Deferred Real Property Tax 2-05-01-010 Credit

Description

This is used to record the receipt of advance payment for basic real property tax on land, building, machinery and other improvements. Debit this when Real Property Tax is earned.


Deferred Special Education Fund Tax 2-05-01-020 Credit

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Description

This is used to record the receipt of advance payment of additional levy on the assessed value of real property. Debit this when Special Education Tax is earned.


Deferred Finance Lease Revenue 2-05-01-030 Credit

Description

This is used to set up in the books of the lessor the unearned income from finance lease. Debit this when lease income is earned.


Deferred Service Concession Revenue 2-05-01-040 Credit

Description

This is used to record the unearned service concession revenue arising from the grant to operator the right to earn revenue. Debit this as revenue is recognized.


Unearned Revenue – Investment Property 2-05-01-050 Credit

Description

This is used to record the receipt of advance rent/lease income from investment property. Debit this when the revenue is earned.


Other Deferred Credits 2-05-01-990 Credit

Description

This is used to record the other income received in advance not falling under any of the specific deferred credits s. Debit this when related income is earned.

06 Provisions 01 Provisions Title Number Normal Balance

Termination Benefits 2-06-01-040 Credit

Description

This is used to record other liabilities incurred of uncertain timing for termination of employees in view of division or consolidation of offices or political subdivisions. Debit this for settlement of liabilities.


Other Provisions 2-06-01-990 Credit

Description

This is used to record liabilities incurred of uncertain timing . This includes provisions due to litigations, provisions for dismantling costs of buildings and other claims. Debit this for settlement of liabilities.

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99 Other Payables 99 Other Payables Title Number Normal Balance

Other Payables 2-99-99-990 Credit

Description

This is used to record other liabilities not falling under any of the specific payable s. Debit this for settlement of liabilities.

3 Equity 01 Government Equity 01 Government Equity Title Number Normal Balance

Government Equity 3-01-01-010 Credit (Debit)

Description

This represents the cumulative results of normal and continuous operations of an agency including prior period adjustments, effect of changes in ing policy and other capital adjustments.


Prior Period Adjustment 3-01-01-020 Credit (Debit)

Description

This is used to record prior period adjustments due to effect of changes in ing policy and adjustments due to errors. This is closed to the government equity .

02 Intermediate s 01 Intermediate s Title Number Normal Balance

Income and Expense Summary 3-02-01-010 Credit

Description

This is an intermediary used to close in the agency books all the income and expense s of the LGU. This is closed to the Accumulated Surplus.

03 Equity in t Venture 01 Equity in t Venture


Equity in t Venture 3-03-01-010 Credit (Debit)

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Description

This represents the equity shareholding in a t venture.

04 Unrealized Gain/(Loss) 01 Unrealized Gain/(Loss) Title Number Normal Balance

Unrealized Gain/(Loss) from changes in the Fair Value of Financial Assets 3-04-01-010 Credit (Debit)

Description

This represents the unrealized gain/(Loss) from changes in the fair value of financial assets recognized directly in the net assets/equity.

4 INCOME 01 Tax Revenue 01 Tax Revenue – Individual and Corporation Title Number Normal Balance

Professional Tax 4-01-01-020 Credit

Description

This is used to record the taxes imposed on all persons engaged in the exercise/practice of their professions requiring government examination.


Community Tax 4-01-01-050 Credit

Description

This is used to record the taxes levied upon every inhabitant of the Philippines, 18 years of age or over, who have been regularly employed for at least 30 continuous working days during the calendar year; or who is in business or occupation; who owns real property with an aggregate assessed value of P1,000 or more and who is required by law to file an income tax return. This also includes the annual community tax levied upon partnership/corporation engaged in or doing business in the Philippines and required by law to file an annual income tax return. Subsidiary ledger: 51 - Community Tax – Individual 52 - Community Tax – Corporation

02 Tax Revenue – Property Title Number Normal Balance

Real Property Tax- Basic 4-01-02-040 Credit

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Description

This is used to record the basic tax imposed on real property such as land, buildings, machinery and improvements affixed or attached to the real property. Subsidiary ledger: Subsidiary: 01 - Real Property Tax Land 02 - Real Property Tax Building 03 - Real Property Tax Machinery


Discount on Real Property Tax -Basic 4-01-02-041 Debit

Description

This is used to record the discount on the basic tax imposed on real property. It is a deduction from the total real property tax.


Special Education Tax 4-01-02-050 Credit

Description

This is used to record the tax levied on real property (land, building machinery and improvement) in addition to the basic real property tax. The proceeds accrue exclusively to the Special Education Fund.


Discount on Special Education Tax 4-01-02-051 Debit

Description

This is used to record the discount on the special education tax levied on real property. It is a deduction from the total special education tax.


Special Levy on Idle Lands 4-01-02-060 Credit

Description

This is used to record the additional ad valorem tax levied on idle lands in addition to the basic real property tax.


Special Levy on Lands Benefited by Public Works Projects 4-01-02-070 Credit

Description

This is used to record the special levy imposed on lands comprised with territorial jurisdiction specially benefited by public works and projects or improvements funded by local governments concerned.


Real Property Transfer Tax 4-01-02-080 Credit

Description

This is used to record the tax imposed on the transfer of ownership or title of real property (by sale, donation/barter or other modes).

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03 Tax Revenue-Goods and Services Title Number Normal Balance

Business Tax 4-01-03-030 Credit

Description

This is used to record the taxes on persons or entities in the course of trade or business. Subsidiary ledgers: 01 – Business Tax – Manufacturers, assemblers, etc. – this includes taxes imposed on manufactures, assemblers, repackers, processors, brewers, distillers, rectifiers and compounders of liquors, distilled spirits, and wines or manufacturers of any article of commerce. (Sec. 143 (a) of RA 7160. 02 – Business Tax – Wholesalers, distributors, etc. – this includes taxes imposed on wholesalers, distributors or dealers in any article of commerce. (Sec. 143 (b) o RA 7160 03 – Business Tax – Exporters, etc. – this includes taxes on exporters, and on manufacturers, millers, producers, wholesalers, distributors, dealers or retailers of essential commodities. (Sec. 143 (c). 04 – Business Tax- Retailers – this includes taxes imposed on business establishments engaged in the sale of goods where the purchaser buys the commodity for their own consumption irrespective of the quantity of the commodity sold. 05 – Business Tax- Contractors and Independent Contractors – this includes taxes imposed on persons (natural or juridical) not subject to professional tax involve in the sale of all kinds of services for a fee. 06 – Business Tax – Banks and other Financial Institutions – this includes business taxes imposed on banks and banking institutions, insurance companies and financing companies. 07 – Business Tax - Peddlers – this includes business taxes imposed on retailers selling their commodities on foot or motorized along the way. 99 – Business Tax – Other Businesses - this includes business taxes imposed not otherwise previously classified.


Tax on Sand, Gravel and Other Quarry Products 4-01-03-040 Credit

Description

This is used to record the taxes imposed by local government units on sand, gravel, stones, earth and other quarry resources extracted from public lands or from beds of seas, lakes, rivers, streams, creeks and other public waters within the LGU’s territorial jurisdiction.


Tax on Delivery Trucks and Vans 4-01-03-050 Credit

Description

This is used to record the annual fixed tax levied on delivery trucks, vans or any vehicles used by manufacturers, producers, wholesalers, dealers or retailers in the delivery or distribution of distilled spirits, fermented liquors, soft drinks, cigars and cigarettes and other products to sales outlets, or consumers, whether directly or indirectly within the locality.

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Amusement Tax 4-01-03-060 Credit

Description

This is used to record the tax imposed by local government units on the proprietors, lessees or operators of theaters, cinemas, concert halls, circuses, boxing stadia, and other places of amusement (Sec. 140 RA 7160).


Franchise Tax 4-01-03-070 Credit

Description

This is used to record the tax imposed by local government units on businesses enjoying franchise.


Printing and Publication Tax 4-01-03-080 Credit

Description

This is used to record taxes imposed on the business of persons engaged in the printing/publication of books, cards, posters, leaflets, handbills, certificates, receipts, pamphlets and others of similar nature

04 Tax Revenue – Others Title Number Normal Balance

Other Taxes 4-01-04-990 Credit

Description

This is used to record all other taxes levied not falling under any of the specific tax s.

05 Tax Revenue – Fines and Penalties Title Number Normal Balance

Tax Revenue - Fines and Penalties – Taxes on Individual and Corporation 4-01-05-010 Credit

Description

This is used to record all fines and penalties charged in relation to the collection of taxes on individual and corporation.


Tax Revenue - Fines and Penalties - Property Taxes 4-01-05-020 Credit

Description

This is used to record all fines and penalties charged in relation to the collection of property taxes. 01 - Real Property Tax Basic Land – Penalty 02 - Real Property Tax Basic Building – Penalty 03 - Real Property Tax Basic Machinery – Penalty 04 - Special Education Tax – Penalty - Others

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Tax Revenue - Fines and Penalties - Taxes on Goods and Services 4-01-05-030 Credit

Description

This is used to record all fines and penalties charged in relation to the collection of taxes on goods and services


Tax Revenue - Fines and Penalties - Other Taxes 4-01-05-040 Credit

Description

This is used to record all fines and penalties imposed on other taxes.

06 Share from National Taxes Title Number Normal Balance

Share from Internal Revenue Collections 4-01-06-010 Credit

Description

This is used to record the share of local government units from the national internal revenue taxes collected.


Share from Expanded Value Added Tax 4-01-06-020 Credit

Description

This is used to record the share of local government units in incremental collection from value added tax (VAT). This also includes share from VAT in lieu of franchise tax collected from racetrack operations of the Manila Jockey Club, Inc. and the Philippine Racing Club, Inc.


Share from National Wealth 4-01-06-030 Credit

Description

This includes the share of local government units in the utilization and development of the national wealth and from its share in any coproduction, t venture or production sharing agreement in the utilization and development of national wealth within their respective territorial jurisdiction. This also includes the share of the local government unit based on the preceding fiscal year proceeds derived by any government agency or government-owned or controlled corporation engaged in the utilization and development of national wealth. Subsidiary ledgers: 01- Share from Mining Taxes 02- Share from Royalty Fees 03- Share from Proceeds Derived from Hydro-Power Plants, Geothermal and Other Sources of Energy 04- Share from Forestry and Fishery Charges

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Share from Tobacco Excise Tax (RA 7171 and 8240) 4-01-06-040 Credit

Description

This is used to record the share of local government units from tobacco excise taxes as provided under R.A. No. 7171 and 8240.


Share from Economic Zones 4-01-06-050 Credit

Description

This is used to record the share of local government units from the five percent of the gross income tax paid by all businesses and enterprises located within ECOZONES (economic, industrial and commercial parks or zones).

02 Business and Service Income 01 Service Income Title Number Normal Balance

Permit Fees 4-02-01-010 Credit

Description

This is used to record the fees and charges collected in the exercise of regulatory powers. This includes permit fees collected from businesses, building, zonal location and others. Subsidiary ledgers: 05060708091011-

Business Permit Fees Building Permit Fees Zonal/Location Permit Fees Tricycle Operators Permit Fees Fishery Rental Fees and Privilege Fees Fees on Weights and Measures Other Permit and Licenses


Registration Fees 4-02-01-020 Credit

Description

This is used to record the fees collected for civil registration, animal registration, etc. Subsidiary ledgers: 01 - Civil Registration Fees 02 - Cattle/Animal Registration Fees


Registration Plates, Tags and Stickers Fees 4-02-01-030 Credit

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Description

This is used to record fees collected for registration plates, tags and stickers issued by local government units.


Clearance and Certification Fees 4-02-01-040 Credit

Description

This is used to record the fees collected for the issuance of clearances/certificates to individuals/organizations/groups/corporations. Subsidiary ledgers: 01 02 03 04 05

Police Clearance Secretary’s Fees Health Certificate Real Property Tax Clearance Other Clearance and Certification


Supervision and Regulation Enforcement Fees 4-02-01-070 Credit

Description

This is used to record the fees and charges collected for supervision and enforcement of laws and regulations, such as traffic enforcement and other LGU regulations and the like.


Inspection Fees 4-02-01-100 Credit

Description

This is used to record the fees for conduct of inspections by authorized government officials. This includes health inspection fees, sanitary inspection fees, mechanical inspection fees, etc.


Verification and Authentication Fees 4-02-01-110 Credit

Description

This is used to record the fees collected for verification of official documents on record. This also includes fees collected for issuance of authenticated copies of legal documents such as birth/death/marriage certificates.


Processing Fees 4-02-01-130 Credit

Description

This is used to record the fees collected for the processing of documents for securing permits/application. This also includes fees for processing birth certificates and other civil registry certificates, permit application and the like.


Occupation Fees 4-02-01-140 Credit

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Description

This is used to record the fees imposed on all individuals employed or practicing their callings which do not require board examinations.


Fishery Rentals, Fees and Charges 4-02-01-150 Credit

Description

This is used to record the fees imposed on individuals/entity granted fishery privileges in the municipal waters in accordance with Sec. 149 of RA 7160.


Fees for Sealing and Licensing of Weights and Measures 4-02-01-160 Credit

Description

This is used to record the fees imposed for sealing and licensing of weights and measures in accordance with Sec. 148 of RA 7160.


Fines and Penalties – Service Income 4-02-01-980 Credit

Description

This is used to record the fees for fines and penalties imposed for delayed or non- payment of service fees.


Other Service Income 4-02-01-990 Credit

Description

This is used to record the fees collected from service income not falling under any of the specific service income s.

02 Business Income Title Number Normal Balance

School Fees 4-02-02-010 Credit

Description

This is used to record the fees imposed to students of local universities/colleges and public schools. It includes tuition, registration, affiliation, athletic, cultural, diploma and graduation, transcript of records, library, training, entrance examination fee, comprehensive examination and the like.


Affiliation Fees 4-02-02-020 Credit

Description

This is used to record the fees collected by local institutions from students undertaking practice of their professions.


Seminar/Training Fees 4-02-02-040 Credit

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Description

This is used to record the fees collected or billed for attendance in short course trainings and seminars.


Rent Income 4-02-02-050 Credit

Description

This is used to record the income from use of government properties/facilities, such as rent/lease of function rooms/buildings, fees on storage, warehousing, use of heavy equipment of other government agencies, and receipt of contingent rent. Contingent rent are additional rent income on top of the agreed rate as provided in the lease agreement.


Communication Network Fees 4-02-02-060 Credit

Description

This is used to record the fees collected from domestic money transfer, social telegram service, two-way radio service, public calling service, fixed line telephone service, telegraphic transfer, electronic messaging service and other related services. It includes fees collected for the connection of telephone services and the monthly fees for the use of the facility.


Transportation System Fees 4-02-02-070 Credit

Description

This is used to record the income from the operation of transportation system like trains, buses, watercrafts, aircrafts, and the use of land transport system terminals.


Road Network Fees 4-02-02-080 Credit

Description

This is used to record the toll fees charged for use of road networks and bridges.


Waterworks System Fees 4-02-02-090 Credit

Description

This is used to record the income from the operation of waterworks system, such as water connection fees, water utilization fees, irrigation fees, and the like.


Power Supply System Fees 4-02-02-100 Credit

Description

This is used to record the income earned from power generation, transmission and distribution.

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Seaport System Fees 4-02-02-110 Credit

Description

This is used to record the fees imposed on vessels for use of port facilities, such as loading/discharging of cargoes, embarking/disembarking engers, bunkering and anchoring at the port; fees charged for cargoes whether for domestic shipment or transshipment and security fee for the transport of containers.


Parking Fees 4-02-02-120 Credit

Description

This is used to record the fees imposed (fixed and ambulant) on use of public areas as parking fees, and the like.


Receipts from Operation of Hostels/Dormitories and Other Like Facilities 4-02-02-130 Credit

Description

This is used to record the fees/charges for the use of hostels and dormitories, cottages, guest houses, and the like.


Receipt from Market Operation 4-02-02-140 Credit

Description

This is used to record the collections from the operations of market. It includes rental of market spaces (fixed and ambulant) and other income earning facilities of the market.


Receipts from Slaughterhouse Operation 4-02-02-150 Credit

Description

This is used to record the collections from the operations of slaughterhouse which includes rentals of spaces for warehousing, livestock slaughter fees and share from ante/post-mortem fees.


Receipts from Cemetery Operation 4-02-02-160 Credit

Description

This is used to record the collections from the operations of cemetery which includes rentals of spaces for interment and operation of the crematorium and columbary.


Receipts from Printing and Publication 4-02-02-170 Credit

Description

This is used to record the receipts from sale of printed forms, materials or other publications.

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Sales Revenue 4-02-02-180 Credit

Description

This is used to record the income from sale of merchandise and other inventory items and services in the regular course of business.


Sales Discounts 4-02-02-181 Credit

Description

This is used to record the discounts on sale of goods and services in the regular course of business. This is closed to sales revenue.


Garbage Fees 4-02-02-190 Credit

Description

This is used to record the fees for garbage collection and other environmental and sanitation fees.


Hospital Fees 4-02-02-200 Credit

Description

This is used to record the fees/charges for hospital services rendered including medical, dental and laboratory services.


Dividend Income 4-02-02-210 Credit

Description

This is used to record the dividends earned from equity investments.


Interest Income 4-02-02-220 Credit

Description

This is used to record the interest earned on loans receivable, investments, and bank deposits.


Service Concession Revenue 4-02-02-230 Credit

Description

This is used to record the revenue recognized for the allocation of the cost of the asset put up by the operator for use in the service concession agreement.


Other Service Concession Revenue 4-02-02-240 Credit

Description

This is used to record the revenue received from operators of service concession asset in excess of any threshold set for the operator’s

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collections. Title Number Normal Balance

Lease Revenue 4-02-02-250 Credit

Description

This is used to record the revenue recognized from collection of finance lease receivable


Share in the Profit from t Venture 4-02-02-260 Credit

Description

This is used to record the share of government agencies from profit on t venture operations.


Fines and Penalties – Business Income 4-02-02-980 Credit

Description

This is used to record the fines, penalties charged for delayed or non-compliance with business regulatory requirements.


Other Business Income 4-02-02-990 Credit

Description

This is used to record the income not falling under any of the specific business income s.

03 Transfers, Assistance and Subsidy 01 Assistance and Subsidy Title Number Normal Balance

Subsidy from National Government 4-03-01-010 Credit

Description

This is used to record transfers from the National government without specific purpose or stipulation.


Subsidy from Local Government Units 4-03-01-020 Credit

Description

This is used to record the amount of funds/assets transferred from other LGUs (Province, City, Municipality or Barangay) without specific purpose or condition.


Subsidy from Government-Owned and/or Controlled Corporations (GOCCs) 4-03-01-030 Credit

Description

This is used to record the amount of funds/assets transferred from GOCCs without specific purpose or condition.

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Subsidy from Other Funds 4-03-01-040 Credit

Description

This is used to record the financial assistance received by one fund from another fund maintained by the same government agency as expressly authorized by law.


Subsidy from General Fund Proper /Other Special s 4-03-01-050 Credit

Description

This is used to record transfers of funds from the general fund proper to an economic enterprise/special s of the same LGU.


Subsidy from Local Economic Enterprises 4-03-01-060 Credit

Description

This is used to record transfers of funds as subsidy from economic enterprises/special s to general fund proper or to other economic enterprises/special s of the same LGU. Maintain subsidiary for each economic enterprise.

02 Transfers Title Number Normal Balance

Transfers from General Fund of LGU Counterpart/Equity Share 4-03-02-010 Credit

Description

This is used to record the receipt of LGU counterpart or equity share.


Transfers from General Fund of Unspent DRRMF 4-03-02-020 Credit

Description

This is used to record the receipt of the unspent current year appropriations for DRRMF.

04 Shares, Grants and Donations 01 Shares Title Number Normal Balance

Share from Philippine amusement and Gaming Corporation (PAGCOR) 4-04-01-010 Credit

Description

This is used to record the share of the local government unit from PAGCOR.

Title Number

Share from Philippine Charity Sweepstakes Office (PCSO) 4-04-01-020

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Normal Balance

Credit

Description

This is used to record the share of the local government unit from PCSO.

02 Grants and Donations Title Number Normal Balance

Grants and Donations in Cash 4-04-02-010 Credit

Description

This is used to record all grants and donations in cash received from private sector or international institutions without specific purpose.


Grants and Donations in Kind 4-04-02-020 Credit

Description

This is used to record all grants and donations in kind received from other levels of government, private sector or international institutions.


Grants from concessionary Loan 4-04-02-030 Credit

Description

This is used to record the difference between the loan proceeds and the fair value of the loan on initial recognition.

05 Gains 01 Gains Title Number Normal Balance

Gain from Changes in Fair Value of Financial Instruments 4-05-01-010 Credit

Description

This is used to record the gain in the fair value of financial instruments.


Gain on Foreign Exchange (FOREX) 4-05-01-020 Credit

Description

This is used to record the gain in the revaluation of s in foreign currency denomination to local currency at balance sheet date. It also includes actual gain realized in the conversion of foreign currency to local currency.


Gain on Sale of Investments 4-05-01-030 Credit

Description

This is used to record the gain on sale of government investments, such bonds or securities, etc.

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Gain on Sale of Investment Property 4-05-01-040 Credit

Description

This is used to record the gain on sale of investment property.


Gain on Sale of Property, Plant and Equipment 4-05-01-050 Credit

Description

This is used to record the gain on sale of government PPEs.


Gain on Initial Recognition of Biological Assets 4-05-01-060 Credit

Description

This is used to record the gain on the initial recognition of biological assets.


Gain on Sale of Biological Assets 4-05-01-070 Credit

Description

This is used to record the gain on the sale of biological assets.

Title

Gain from Changes in Fair Value Less Cost to Sell of Biological Assets Due to Physical Change 4-05-01-080 Credit


This is used to record gains from changes in fair value less cost to sell of biological assets due to physical change.

Title

Gain from Changes in Fair Value Less Cost to Sell of Biological Assets Due to Price Change 4-05-01-090 Credit


This is used to record gains from changes in fair value less cost to sell of biological assets due to price change.


Gain from Initial Recognition of Agricultural Produce 4-05-01-100 Credit

Description

This is used to record gains from changes in fair value less cost to sell of biological assets due to price change.


Gain on Sale of Intangible Assets 4-05-01-110 Credit

Description

This is used to record the gains on sale of intangible assets.


Reversal of Impairment Losses 4-05-01-120 Credit

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Description

This is used to record the reversal of impairment losses recognized in the previous year’s.


Other Gains 4-05-01-990 Credit

Description

This is used to record the gains not falling under any of the specific gain s.

06 Miscellaneous Income 01 Miscellaneous Income Title Number Normal Balance

Miscellaneous Income 4-06-01-010 Credit

Description

This is used to record the receipt revenue and receipts not elsewhere classified under any specific income .

07 Other Non-Operating Income 01 Sale of Assets Title Number Normal Balance

Sale of Garnished/Confiscated/Abandoned Goods and Properties 4-07-01-010 Credit

Description

This is used to record the receipts derived from the sale of garnished/confiscated/abandoned/seized goods or properties title of which had been decided in favor of the government.

5 EXPENSES 01 Personal Services 01 Salaries and Wages Title Number Normal Balance

Salaries and Wages – Regular 5-01-01-010 Debit

Description

This is used to record the pay proper for services rendered of government employees occupying regular plantilla positions. Subsidiary Ledger: 01 - civilian employees 02 - uniformed personnel

Title Number

Salaries and Wages – Casual/Contractual 5-01-01-020

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Normal Balance

Debit

Description

This is used to record the pay proper for services rendered by employees contracted/hired to perform regular agency functions and specific vital activities or services which cannot be provided by the regular or permanent staff of the agency. These are considered employees of the hiring agency limited to the year when their services are reasonably required. This includes payment for services rendered by substitute and part-time teachers.

02 Other Compensation Title Number Normal Balance

Personnel Economic Relief Allowance (PERA) 5-01-02-010 Debit

Description

This is used to record the allowance granted to government personnel occupying regular, contractual or casual positions; appointive or elective; rendering services on full-time or part-time basis; and whose positions are covered by Republic Act No. 6758, as amended.


Representation Allowance (RA) 5-01-02-020 Debit

Description

This is used to record the monthly commutable representation allowance granted to authorized officials and employees in the actual performance of their respective functions, such as hosting official meetings.


Transportation Allowance (TA) 5-01-02-030 Debit

Description

This is used to record the monthly commutable transportation allowance granted to authorized officials and employees in the actual performance of their respective functions.


Clothing/Uniform Allowance 5-01-02-040 Debit

Description

This is used to record the fixed amount granted to authorized government officials/employees for the upkeep/replacement of clothing/uniform paid in cash or in kind.


Subsistence Allowance 5-01-02-050 Debit

Description

This is used to record the amount granted to authorized government officials/employees to cover cost of meals, and incidental expenses incurred by employees who are on official business.

Title Number

Laundry Allowance 5-01-02-060

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Normal Balance

Debit

Description

This is used to record the amount granted to authorized government officials/employees to cover cost of laundering uniform incurred by employees who are on official business.


Quarters Allowance 5-01-02-070 Debit

Description

This is used to record the amount granted to authorized government officials/employees to cover cost of suitable and adequate living quarters incurred by employees who are on official business.


Productivity Incentive Allowance 5-01-02-080 Debit

Description

This is used to record the fixed amount granted to authorized government officials/employees for at least satisfactory performance in the discharge of their official duties.


Overseas Allowance 5-01-02-090 Debit

Description

This is used to record the allowances granted to authorized government officials/employees on foreign assignment/mission.


Honoraria 5-01-02-100 Debit

Description

This is used to record the payment given to professionals for services in recognition of their expertise, broad and superior knowledge in specific fields and special projects. This also include payments to lecturers, resource persons, coordinators and facilitators in seminars, training programs and other similar activities in training institutions including those who render services beyond their regular workload.


Hazard Pay 5-01-02-110 Debit

Description

This is used to record the payment to government officials/employees assigned in difficult/ dangerous/strife-torn/embattled areas as certified by appropriate government body and to those whose lives are directly exposed to work conditions which may cause injury/sickness/death/harmful change in the human being.


Longevity Pay 5-01-02-120 Debit

Description

This is used to record the additional compensation to government officials and employees based on years of service rendered to the

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government. Title Number Normal Balance

Overtime and Night Pay 5-01-02-130 Debit

Description

This is used to record the extra compensation paid to government employees who are authorized to work for more than the normal 40 hours in one workweek or on days of rest.


Year End Bonus 5-01-02-140 Debit

Description

This is used to record the amount granted annually to government officials and employees as authorized by law.


Cash Gift 5-01-02-150 Debit

Description

This is used to record the amount granted annually in addition to the year end bonus to government officials and employees as authorized by law.


Other Bonuses and Allowances 5-01-02-990 Debit

Description

This is used to record other authorized bonuses and allowances to government officials/employees not falling under any of the specific other compensation s.

03 Personnel Benefit Contributions Title Number Normal Balance

Retirement and Life Insurance Contributions 5-01-03-010 Debit

Description

This is used to record the government’s share in contributions to the Government Service Insurance System and other life and retirement benefit systems.


Pag-IBIG Contributions 5-01-03-020 Debit

Description

This is used to record the government's share in contributions to the Home Development Mutual Fund.


PhilHealth Contributions 5-01-03-030 Debit

Description

This is used to record the government’s share in contributions to the Philippine Health Insurance Corporation.

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Employees Compensation Insurance s 5-01-03-040 Debit

Description

This is used to record the government’s share in contributions to the Employees' Compensation Commission (ECC).


Provident/Welfare Fund Contribution 5-01-03-050 Debit

Description

This is used to record the amount contributed by the government for the employees’ provident or welfare fund.

04 Other Personnel Benefits Title Number Normal Balance

Pension Benefits 5-01-04-010 Debit

Description

This is used to record the amount of pension to government employees. Subsidiary Ledger: 01 - civilian employees 02 - uniformed personnel


Retirement Gratuity 5-01-04-020 Debit

Description

This is used to record the amount of retirement gratuity to government employees.


Terminal Leave Benefits 5-01-04-030 Debit

Description

This is used to record the money value of the accumulated leave credits of government officials and employees.


Other Personnel Benefits 5-01-04-990 Debit

Description

This is used to record the amount contributed by the government for the employees’ benefits not falling under any of the specific other personnel s.

02 Maintenance And Other Operating Expenses 01 Traveling Expenses Title Number

Traveling Expenses - Local 5-02-01-010

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Normal Balance

Debit

Description

This is used to record the costs incurred in the movement/transport of government officers and employees within the country. This includes transportation, travel per diems, ferriage, and all other related expenses.


Traveling Expenses - Foreign 5-02-01-020 Debit

Description

This is used to record the costs incurred in the movement/transport of government officers and employees outside the country. This includes transportation, travel per diems, port and visa processing and all other related expenses.

02 Training and Scholarship Expenses Title Number Normal Balance

Training Expenses 5-02-02-010 Debit

Description

This is used to record the costs incurred for the participation/ attendance in and conduct of trainings, conventions and seminars/workshops. It includes training fees, honoraria of lecturers, cost of handouts, supplies, materials, meals, snacks and all other expenses related to training.


Scholarship Grants/Expenses 5-02-02-020 Debit

Description

This is used to record the costs of scholarships granted by the government to individuals in the pursuit of further learning, study or research.

03 Supplies and Materials Expenses Title Number Normal Balance

Office Supplies Expenses 5-02-03-010 Debit

Description

This is used to record the cost or value of office supplies such as bond paper, ink, and small tangible items like staple wire remover, puncher, stapler and other similar items issued to end-s for government operations.


able Forms Expenses 5-02-03-020 Debit

Description

This is used to record the cost of able forms with or without money value such as official receipts, ports, tickets, permit/license plates, LTO plates, and the like, issued to end-s.


Non-able Forms Expenses 5-02-03-030 Debit

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Description

This is used to record the cost of non-able forms such as preprinted application forms, tax returns forms, ing forms and the like, issued to end-s.


Animal/Zoological Supplies Expenses 5-02-03-040 Debit

Description

This is used to record the costs of food, medicines, veterinary and other maintenance needs of animals issued for use in government parks, zoos, wildlife sanctuaries and botanical gardens. This also includes supplies issued for zoological researches and preservations.


Food Supplies Expenses 5-02-03-050 Debit

Description

This is used to record the cost of food issued to hospital/rehabilitation patients, jail inmates and the like.


Welfare Goods Expenses 5-02-03-060 Debit

Description

This is used to record the cost of goods issued/distributed to people affected by calamities/disasters/ground conflicts such as canned goods, blankets, mats, kitchen utensils, flashlights and other similar items. This also includes the cost of food served to people affected by calamities/disasters/ground conflicts.


Drugs and Medicines Expenses 5-02-03-070 Debit

Description

This is used to record the costs of drugs and medicines issued to ends for government operations.


Medical, Dental and Laboratory Supplies Expenses 5-02-03-080 Debit

Description

This is used to record the costs of medical, dental and laboratory supplies issued to end-s for government operations.


Fuel, Oil and Lubricants Expenses 5-02-03-090 Debit

Description

This is used to record the costs of fuel, oil and lubricants issued for use of government vehicles and other equipment in connection with government operations/projects.


Agricultural and Marine Supplies Expenses 5-02-03-100 Debit

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Description

This is used to record the cost of fertilizers, pesticides and other marine and agricultural supplies issued in government operations/projects. This includes supplies issued for aquaculture researches, environment protection/preservations and the like.


Textbooks and Instructional Materials Expenses 5-02-03-110 Debit

Description

This is used to record the cost of books and instructional materials distributed to public schools including flipcharts, video clips/slides, and the like.


Military, Police and Traffic Supplies Expenses 5-02-03-120 Debit

Description

This is used to record the cost or value of military and police supplies issued/used in government operations such as clubs/cudgels, night sticks, police/ traffic gears, flashlights, truncheons, ammunitions and the like.


Chemical and Filtering Supplies Expenses 5-02-03-130 Debit

Description

This is used to record the cost of chemical and filtering supplies used in government operations.


Other Supplies and Materials Expense 5-02-03-990 Debit

Description

This is used to record the cost of inventories issued to end-s not otherwise classified under the specific inventory expense s.

04 Utility Expenses Title Number Normal Balance

Water Expenses 5-02-04-010 Debit

Description

This is used to record cost of water consumed in government operations/projects.


Electricity Expenses 5-02-04-020 Debit

Description

This is used to record the cost of electricity consumed in government operations/projects.

05 Communication Expenses Title Number Normal Balance

Postage and Courier Service 5-02-05-010 Debit

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Description

This is used to record the cost of delivery/transmission of official messages, mails, documents, records and the like.


Telephone Expenses 5-02-05-020 Debit

Description

This is used to record the cost of transmitting messages thru telephone lines (mobile or landlines), faxes, telex and the like whether prepaid or postpaid.


Internet Subscription Expenses 5-02-05-030 Debit

Description

This is used to record the cost of using internet services in government operations.


Cable, Satellite, Telegraph and Radio Expenses 5-02-05-040 Debit

Description

This is used to record the cost of using cable/satellite/ telegram/radio services.

06 Awards/Rewards and Prizes Title Number Normal Balance

Awards and Rewards Expenses 5-02-06-010 Debit

Description

This is used to record the amount given in recognition of any civic or professional achievement and of rewards to informers for the receipt of reliable information leading to successful arrest/capture of fugitives, seizure/confiscation of smuggled goods, or collection of unpaid taxes/surcharges/fines/penalties.


Prizes 5-02-06-020 Debit

Description

This is used to record the amount paid to winners of competitive and promotional activities.

07 Survey, Research, Exploration and Development Expenses Title Number Normal Balance

Survey Expenses 5-02-07-010 Debit

Description

This is used to record the cost incurred in the conduct of cadastral, structural, topographical, statistical and other type of surveys conducted by government agencies.

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Research, Exploration and Development Expenses 5-02-07-020 Debit

Description

This is used to record the cost incurred in the conduct of studies to gain scientific or technical knowledge on future projects including development, refinement or evaluation of policies for use of management.

08 Demolition/Relocation, and Desilting/Dredging Expenses Title Number Normal Balance

Demolition and Relocation Expenses 5-02-08-010 Debit

Description

This is used to record the costs of demolition of structures and relocation of structures and settlers affected by government projects.


Desilting and Dredging Expenses 5-02-08-020 Debit

Description

This is used to record the costs incurred in removing large accumulation of decomposed litters and other organic debris in and deepening of canals, sewerage, rivers, creeks, and the like.

09 Generation, Transmission and Distribution Expenses Title Number Normal Balance

Generation, Transmission and Distribution Expenses 5-02-09-010 Debit

Description

This is used to record the costs of generation, transmission and distribution of water, electricity, information/ communication, power and other related services intended for sale and/or redistribution.

10 Confidential, Intelligence and Extraordinary Expenses Title Number Normal Balance

Confidential Expenses 5-02-10-010 Debit

Description

This is used to record the amount paid for expenses related to surveillance activities in civilian government agencies that are intended to the mandate or operations of the agency.


Intelligence Expenses 5-02-10-020 Debit

Description

This is used to record the amount paid for expenses related to surveillance activities in civilian government agencies that are intended to the mandate or operations of the agency.

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Extraordinary and Miscellaneous Expenses 5-02-10-030 Debit

Description

This is used to record the amount paid for expenses incidental to the performance of official functions, such as: meetings and conferences, public relations, educational, cultural and athletic activities, hip fees in government organizations, etc.

11 Professional Services Title Number Normal Balance

Legal Services 5-02-11-010 Debit

Description

This is used to record the cost incurred for authorized legal services rendered by private lawyers. This includes special counsel allowance granted to government lawyers deputized to represent the government in court as special counsel.


Auditing Services 5-02-11-020 Debit

Description

This is used to record the cost of operating expenses provided by auditees for auditing services rendered by the Commission on Audit.


Consultancy Services 5-02-11-030 Debit

Description

This is used to record the cost of services rendered by consultants contracted to perform particular outputs or services primarily advisory in nature and requiring highly specialized or technical expertise which cannot be provided by the regular staff of the agency.


Other Professional Services 5-02-11-990 Debit

Description

This is used to record the cost of other professional services contracted by the agency not otherwise classified under any of the specific professional services s. This includes honoraria paid by local government units (LGUs) to national government personnel (judges, prosecutors, public elementary and high school teachers and other national government personnel) assigned in LGUs. This also includes other operating expenses granted to national government agencies stationed in the LGU.

12 General Services Title Number Normal Balance

Environment/Sanitary Services 5-02-12-010 Debit

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Description

This is used to record the cost of services contracted/undertaken by istration for the upkeep and sanitation of the public places. This includes the cost of clean and green program, garbage and hospital waste collection and disposal.


Janitorial Services 5-02-12-020 Debit

Description

This is used to record the cost of janitorial services contracted by the government.


Security Services 5-02-12-030 Debit

Description

This is used to record the cost of security services contracted by the government.


Other General Services 5-02-12-990 Debit

Description

This is used to record the cost of other general services contracted by the agency not otherwise classified under any of the specific general services s.

13 Repairs and Maintenance Title Number Normal Balance

Repairs and Maintenance – Investment Property 5-02-13-010 Debit

Description

This is used to record the cost of repairs and maintenance on buildings/warehouses and other structures held for rent/lease or held for capital appreciation or both.


Repairs and Maintenance – Land Improvements 5-02-13-020 Debit

Description

This is used to record the cost of repairs and maintenance on Aquaculture structures and other land improvements constructed/ acquired/ developed for public use. Subsidiary ledger: 01- Aquaculture Structures 99- Other Land Improvement


Repairs and Maintenance – Infrastructure Assets 5-02-13-030 Debit

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Description

This is used to record the cost of repairs and maintenance on road networks; sewer systems; water supply systems; power supply systems; communication networks; seaport systems; airport systems; parks, plazas, monuments; and other infrastructure assets. Subsidiary ledger: 01 - Road Networks 02-Flood Control System 02 - Sewer Systems 03 - Water Supply systems 04 - Power Supply Systems 05 - Communication Networks 06 - Seaport Systems 07 - Airport Systems 08 - Parks, Plazas, Monuments 99 - Other Infrastructure Assets


Repairs and Maintenance – Buildings and Other Structures 5-02-13-040 Debit

Description

This is used to record the cost of repairs and maintenance on office buildings; school buildings; hospitals and health centers; markets; slaughterhouses; hotels and dormitories; and other structures. Subsidiary ledgers: 01 – Buildings 02 - School Buildings 03 - Hospitals and Health Centers 04 - Markets 05 – Slaughterhouses 06 - Hotels and Dormitories 99 - Other Structures


Repairs and Maintenance – Machinery and Equipment 5-02-13-050 Debit

Description

This is used to record the cost of repairs and maintenance on office equipment; ICT equipment ; agricultural and forestry equipment; marine and fishery equipment; airport equipment; communication equipment; construction and heavy equipment; firefighting equipment and accessories ; military, police and security equipment; medical equipment; printing equipment; sports equipment; technical and scientific equipment; and other machinery and equipment. Subsidiary ledger: 01 - Machinery 02 - Office Equipment 03 - ICT Equipment 04 - Agricultural and Forestry Equipment 05 - Marine and Fishery Equipment 06 - Airport Equipment 07 - Communication Equipment 08 - Construction and Heavy Equipment 09 – Disaster Response and Rescue Equipment

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10 - Military, Police and Security Equipment 11 - Medical Equipment 12 - Printing Equipment 13 - Sports Equipment 14 - Technical and Scientific Equipment 99 - Other Machinery and Equipment Title Number Normal Balance

Repairs and Maintenance – Transportation Equipment 5-02-13-060 Debit

Description

This is used to record the cost of repairs and maintenance on motor vehicles; train; aircraft; watercraft; and other transportation equipment. Subsidiary ledger: 01 - Motor Vehicles 02 – Train 03 – Aircraft 04 – Watercraft 99 - Other Transportation Equipment


Repairs and Maintenance – Furniture and Fixtures 5-02-13-070 Debit

Description

This is used to record the cost of repairs and maintenance on furniture and fixtures. Subsidiary ledger: 01 - Furniture and Fixtures


Repairs and Maintenance – Leased Assets 5-02-13-080 Debit

Description

This is used to record the cost of repairs and maintenance of buildings; and other leased assets acquired by a lessee under a finance lease. Subsidiary ledger: 01 – Buildings and Other Structures 02 – Machinery and Equipment 03 - Transportation Equipment 99 - Other Leased Assets


Repairs and Maintenance – Leased Assets Improvements 5-02-13-090 Debit

Description

This is used to record the cost of repairs and maintenance of improvements on land; buildings; and other leasehold improvements under lease contract/agreement. Subsidiary ledger: 01 – Land

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02 – Buildings 99 - Other Leasehold Improvements Title Number Normal Balance

Repairs and Maintenance – Other Property, Plant and Equipment 5-02-13-990 Debit

Description

This is used to record the cost of repairs and maintenance of other property, plant and equipment not falling under any of the specific property, plant and equipment . Subsidiary Ledgers: 01 – Work/Zoo Animals 02 – Other Property, Plant and Equipment

14 Financial Assistance/Subsidy Title Number Normal Balance

Subsidy to National Government Agencies 5-02-14-020 Debit

Description

This is used to record the assistance without specific purpose granted to NGAs.


Subsidy to Other Local Government Units 5-02-14-030 Debit

Description

This is used to record the transfer of funds/assets without specific purpose to LGUs.


Subsidy to Other Funds 5-02-14-060 Debit

Description

This is used to record fund transfers to one fund from another fund maintained by the same LGU as expressly authorized by law.


Subsidy to General Fund Proper /Special s 5-02-14-070 Debit

Description

This is used to record fund transfers to special s from the general fund proper or other economic enterprise of the same LGU.


Subsidy to Local Economic Enterprises 5-02-14-080 Debit

Description

This is used to record fund transfers to economic enterprises from the general fund proper or other economic enterprise of the same LGU.

Title Number

Subsidy -Others 5-02-14-990

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Normal Balance

Debit

Description

This is used to record the financial assistance to government institutions not falling under any of the specific financial assistance s.

15 Transfers Title Number Normal Balance

Transfers of Unspent Current Year DRRM Funds to the Trust Funds 5-02-15-010 Debit

Description

This is used to record the current year unspent disaster risk reduction and management funds to the Trust Fund.


Transfers for Project Equity Share/LGU Counterpart 5-02-15-020 Debit

Description

This is used to record the transfer of LGU counterpart funding for projects/activities funded from grants/transfers from other government agencies or foreign funding institutions equity component.

16 Taxes, Insurance s and Other Fees Title Number Normal Balance

Taxes, Duties and Licenses 5-02-16-010 Debit

Description

This is used to record the amount of taxes, duties, licenses and other fees due to regulatory agencies.


Fidelity Bond s 5-02-16-020 Debit

Description

This is used to record the amount of s paid by the agency for the fidelity bonds of able officers.


Insurance Expenses 5-02-16-030 Debit

Description

This is used to record the amount of s paid by the agency for the insurable risks of government property.

99 Other Maintenance and Operating Expenses Title Number Normal Balance

Advertising Expenses 5-02-99-010 Debit

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Description

This is used to record the costs incurred for ment, such as expenses to (a) promote and market products and services; and (b) publish invitations to bid and other authorized government ments.


Printing and Publication Expenses 5-02-99-020 Debit

Description

This is used to record the costs of printing and binding of manuscripts/documents, forms, manuals, brochures, pamphlets, and the like.


Representation Expenses 5-02-99-030 Debit

Description

This is used to record the expenses incurred for official meetings/ conferences/entertainments.


Transportation and Delivery Expenses 5-02-99-040 Debit

Description

This is used to record the cost of transporting goods/merchandise sold in the course of business operations. This includes the cost of moving agency’s own people and property from one station to another.


Rent Expenses 5-02-99-050 Debit

Description

This is used to record rental of land, buildings, facilities, equipment, vehicles, machineries, and the like.


hip Dues and Contributions to Organizations 5-02-99-060 Debit

Description

This is used to record hip fees/dues/contributions to recognized/authorized professional organizations.


Subscription Expenses 5-02-99-070 Debit

Description

This is used to record the cost of subscription to library and other reading materials.


Donations 5-02-99-080 Debit

Description

This is used to record the amount of aids/assistance to other levels of government/individuals/institutions.

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Other Maintenance and Operating Expenses 5-02-99-990 Debit

Description

This is used to record expenses not falling under any of the specific maintenance and other operating expense s.

03 Financial Expenses 01 Financial Expenses Title Number Normal Balance

Management Supervision/Trusteeship Fees 5-03-01-010 Debit

Description

This is used to record the amount paid to an appointed person or institution that manages assets, including mutual funds and unit trusts, for the benefit of the government; or an agent who handles the istrative aspects of bond issuance and ensures that the borrower complies with the of the bond indenture


Interest Expenses 5-03-01-020 Debit

Description

This is used to record interest charges paid for the use of borrowed money. This also includes discounts on treasury bills and treasury bonds; s on bond investments; coupon payments/interests on domestic and foreign bonds issued by the NG; and interest payment on NG-direct and relent loans, and NG-assumed liabilities.


Guarantee Fees 5-03-01-030 Debit

Description

This is used to record guarantee fee paid by a debtor government agency to the guarantor for the assurance to pay the agency's obligation to the creditor as stipulated in the guarantee clause.


Bank Charges 5-03-01-040 Debit

Description

This is used to record the charges imposed by the bank for various services rendered excluding interest charges. This also includes cost of checkbooks, penalties and surcharges on overdrafts.


Commitment Fees 5-03-01-050 Debit

Description

This is used to record the commitment charges imposed by creditors based on an agreed percentage of the undrawn loan amount.

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Other Financial Charges 5-03-01-990 Debit

Description

This is used to record the charges not falling under any of the specific financial expense s.

04 Direct Costs 01 Cost of Goods Manufactured Title Number Normal Balance

Direct Materials 5-04-01-010 Debit

Description

This is used to record the cost of raw materials used as inputs to production or manufacturing. These are specifically and consistently assigned to or associated with the manufacture of a product or a particular work order.


Direct Labor 5-04-01-020 Debit

Description

This is used to record the cost of payroll or part of wage-bill that can be specifically and consistently assigned to or associated with the manufacture of a product or a particular work order.


Manufacturing Overhead 5-04-01-030 Debit

Description

This is used to record the cost incurred in the manufacture of a product other than the costs of direct materials and direct labor. Examples of manufacturing overhead include the depreciation or the rent on the factory building, depreciation on the factory equipment, supervisors in the factory, the factory quality control department, factory maintenance employees, electricity and gas for the factory, indirect factory supplies, and the like.

02 Cost of Sales Title Number Normal Balance

Cost of Sales 5-04-02-010 Debit

Description

This is used to record the cost of merchandise purchased and resold in the course of business operations.

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05 Non-Cash Expenses 01 Depreciation Title Number Normal Balance

Depreciation – Investment Property 5-05-01-010 Debit

Description

This is used to record the periodic allocation of cost for the wear and tear of buildings/warehouses and other structures held for rent/lease or held for capital appreciation or both in accordance with the prescribed policy on depreciation by COA. Subsidiary ledger: 01 – Building 02 - Other Structures


Depreciation – Land Improvements 5-05-01-020 Debit

Description

This is used to record the periodic allocation of cost for the wear and tear of aquaculture structures and other land improvements constructed/ acquired/ developed for public use in accordance with the prescribed policy on depreciation by COA. Subsidiary ledger: 01- Aquaculture Structures 02- Other Land Improvement


Depreciation – Infrastructure Assets 5-05-01-030 Debit

Description

This is used to record the periodic allocation of cost for the wear and tear of road networks; sewer systems; water supply systems; power supply systems; communication networks; seaport systems; airport systems; parks, plazas, monuments; and other infrastructure assets in accordance with the prescribed policy on depreciation by COA. Subsidiary ledger: 01 - Road Networks 02 - Sewer Systems 03 - Water Supply systems 04 - Power Supply Systems 05 - Communication Networks 06 - Seaport Systems 07 - Airport Systems 08 - Parks, Plazas, Monuments 99 - Other Infrastructure Assets


Depreciation – Buildings and Structures 5-05-01-040 Debit

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Description

This is used to record the periodic allocation of cost for the wear and tear of office buildings; school buildings; hospitals and health centers; markets; slaughterhouses; hotels and dormitories; and other structures in accordance with the prescribed policy on depreciation by COA. Subsidiary ledgers: 01 – Buildings 02 - School Buildings 03 - Hospitals and Health Centers 04 - Markets 05 – Slaughterhouses 06 - Hotels and Dormitories 99 - Other Structures


Depreciation – Machinery and Equipment 5-05-01-050 Debit

Description

This is used to record the periodic allocation of cost for the wear and tear of office equipment; ICT equipment ; agricultural and forestry equipment; marine and fishery equipment; airport equipment; communication equipment; construction and heavy equipment; firefighting equipment and accessories ; military, police and security equipment; medical equipment; printing equipment; sports equipment; technical and scientific equipment; and other machinery and equipment. Subsidiary ledger: 01 - Office Equipment 02 - ICT Equipment 03 - Agricultural and Forestry Equipment 04 - Marine and Fishery Equipment 05 - Airport Equipment 06 - Communication Equipment 07 - Construction and Heavy Equipment 08 - Firefighting Equipment and Accessories 09 - Military, Police and Security Equipment 10 - Medical Equipment 11 - Printing Equipment 12 - Sports Equipment 13 - Technical and Scientific Equipment 99 - Other Machinery and Equipment


Depreciation – Transportation Equipment 5-05-01-060 Debit

Description

This is used to record the periodic allocation of cost for the wear and tear of motor vehicles; train; aircraft; watercraft; and other transportation equipment in accordance with the prescribed policy on depreciation by COA. Subsidiary ledger: 01 - Motor Vehicles 02 – Train 03 – Aircraft 04 – Watercraft

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99 - Other Transportation Equipment Title Number Normal Balance

Depreciation – Furniture, Fixtures and Books 5-05-01-070 Debit

Description

This is used to record the periodic allocation of cost for the wear and tear of furniture and fixtures; and books in accordance with the prescribed policy on depreciation by COA. Subsidiary ledger: 01 - Furniture and Fixtures 02 - Books


Depreciation – Leased Assets 5-05-01-080 Debit

Description

This is used to record the periodic allocation of cost for the wear and tear of buildings, and other leased assets under finance lease contract/agreement in accordance with the prescribed policy on depreciation by COA. Subsidiary ledger: 01 – Buildings and Structures 02 – Machinery and equipment 03 – Transportation Equipment 99 - Other Leasehold Improvements


Depreciation – Leased Asset Improvements 5-05-01-090 Debit

Description

This is used to record the periodic allocation of cost for the wear and tear of improvements on lands, buildings, and other leasehold improvements under lease contract/agreement in accordance with the prescribed policy on depreciation by COA. Subsidiary ledger: 01 – Land 02 – Buildings 99 - Other Leasehold Improvements


Depreciation – Service Concession Assets 5-05-01-100 Debit

Description

This is used to record the periodic allocation of cost for the wear and tear of other assets under service concession arrangement in accordance with the prescribed policy on depreciation by COA.


Depreciation – Other Property, Plant and Equipment 5-05-01-990 Debit

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Description

This is used to record the periodic allocation of cost for the wear and tear of other property, plant and equipment not falling under any of the specific property, plant and equipment in accordance with the prescribed policy on depreciation by COA.

02 Amortization Title Number Normal Balance

Amortization – Intangible Assets 5-05-02-010 Debit

Description

This is used to record the periodic allocation of cost of intangible assets. Subsidiary ledger: 01 – Patents/Copyrights 02 - Computer Software 04 – Other Intangible Assets

03 Impairment Loss Title Number Normal Balance

Impairment Loss – Financial Assets Held to Maturity 5-05-03-010 Debit

Description

This is used to record the loss incurred due to impairment of financial assets held to maturity.


Impairment Loss – Loans and Receivables 5-05-03-020 Debit

Description

This is used to record the loss incurred due to impairment of loans and receivables and other financial assets where the amortized cost is greater than the value of estimated future cash flows discounted at original effective interest rate.


Impairment Loss – Lease Receivables 5-05-03-030 Debit

Description

This is used to record the loss incurred due to impairment of operating and finance lease receivables.


Impairment Loss – Investments in GOCCs 5-05-03-040 Debit

Description

This is used to record the loss incurred due to impairment of investments in GOCCs.


Impairment Loss – Investments in t Venture 5-05-03-050 Debit

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Description

This is used to record the loss incurred in writing down investments in t venture below the carrying value.


Impairment Loss – Other Receivables 5-05-03-060 Debit

Description

This is used to record the loss incurred due to impairment of other receivables.


Impairment Loss – Inventories 5-05-03-070 Debit

Description

This is used to record the loss incurred due to impairment of inventories for sale.


Impairment Loss – Investment Property 5-05-03-080 Debit

Description

This is used to record the loss incurred due to impairment of investment property where the carrying value is greater than the depreciated replacement cost.


Impairment Loss –Property, Plant and Equipment 5-05-03-090 Debit

Description

This is used to record the loss incurred due to impairment of PPE where the carrying value is greater than the depreciated replacement cost.


Impairment Loss –Intangible Assets 5-05-03-100 Debit

Description

This is used to record the loss incurred due to impairment of intangible assets where the carrying value is greater than the service potential cost.

04 Losses Title Number Normal Balance

Loss on Foreign Exchange (FOREX) 5-05-04-010 Debit

Description

This is used to record the losses arising from revaluation of assets and liabilities denominated in foreign currencies.


Loss on Sale of Investments 5-05-04-020 Debit

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Description

This is used to record the amount of loss on sale of government investments, such as bonds or securities.


Loss on Sale of Investment Property 5-05-04-030 Debit

Description

This is used to record the amount of loss on sale of investment property.


Loss on Sale of Property, Plant and Equipment 5-05-04-040 Debit

Description

This is used to record the amount of loss on sale of PPE.


Loss on Sale of Biological Assets 5-05-04-050 Debit

Description

This is used to record the amount of loss on sale of biological assets.


Loss on Sale of Intangible Assets 5-05-04-060 Debit

Description

This is used to record the amount of loss on sale of intangible assets.


Loss on Sale of Assets 5-05-04-070 Debit

Description

This is used to record amount of loss suffered by government due theft/fortuitous events/calamities/civil unrest and events of same nature.


Loss on Initial Recognition of Biological Assets 5-05-04-080 Debit

Description

This is used to record the loss when the purchase price of biological assets is higher than the fair value less cost to sell .


Loss on Assets 5-05-04-090 Debit

Description

This is used to record the loss of assets upon the grant of relief from ability of funds and property.


Loss on Guaranty 5-05-04-100 Debit

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Description

This is used to record the losses on debts guaranteed by government agencies.


Other Losses 5-05-04-990 Debit

Description

This is used to record the amount of losses not falling under any of the specific loss s.

05 Grants Title Number Normal Balance

Grants for Concessionary Loans 5-05-05-010 Debit

Description

This is used to record the difference between the loan granted and the fair value of the loan on initial recognition.

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