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  • DENR memo-PPE Policy PDF

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    Tim Puertos
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    DENR memo-PPE Policy (1).pdf

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    77 views7 pages

    DENR memo-PPE Policy PDF

    Uploaded by

    Tim Puertos

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
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    é Repub ofthe Pilipines aS & Department of Environment and Natural Resources i Visayas Avene. bran, 1100 Quezon iy SF aKa as meas ee ss ti: nner: ro. 9520-7041 1942 Race Erna wen gp Webster opvoh MEMORANDUM To Bureau Directors FMB, BMB, LMB & ERDB Regional Directors Region 1 to 13, NCR, CAR & NIR FROM ‘The Undersecretary for Administration and Information System SUBJECT DENR FMS Advisory No. 1 — Standard adoption of estimated useful life and the expected residual value for Property Plant and Equipment (PPE) Date NOV 9 3 2m COA Circular No. 2015-007 dated October 22, 2015 prescribed the use of the Government Accounting Manual (GAM) for all National Government Agencies (NGAS). For its uniform application within the department particularly Volume I, Chapter 10 Property, Plant and Equipment is hereby adopted as follows: © Residual Value of Property Plant and Equipment (PPE) shall be equivalent to Five percent (5%) of the Cost. Refer PPE Cost to Sec. 5. Measurement at Recognition. © Estimated Useful Life of Property Plant and Equipment (PPE) shall be depreciated based on indicated life in Annex “A” To facilitate the proper recording of transactions,an illustrative accounting entries for the depreciation and adjustments are shown in Annex “B”. The above guidelines exelude tangible items below the capitalization threshold of 15,000 or Semi-Expendable Property. A separate order will be issued for these items as provided under Section 10, Chapter 8 Inventories accounting treatment/recording Said circular took effect starting January 1, 2016 consistent with the implementation of GAM. For further inquiry, you may contact the Accounting Division at the following: © Property Accounting Section, thru Evangeline F. Limyoco / Rommel B. Mabute at telephone no. (02) 928-0254 & VOIP#02-988-3367 local 1019 * Bookkeeping Section, thru Marivic B. Hidalgo / Ronald B. Nilo at telephone no. (02) 928-0254, VOIP#02-988-3367 local 1018 & telefax no. (02) 925-2342 © Consolidation Section, thru Froyla A. Vega at telephone no. (02) 928-0254 & VOIP#02-988-3367 local 1017 or email at acetgco@denr.gov.ph For your information and strict compliance. ATTY. EI D. ADOBO JR, CESOI re ew! Ce: JESUS ENRICO MOISES B, SALAZAR Director, Administrative Services Let's GrowrGreen! Annex “A” | Uacs PPE Description Account | ,DENR Remarks Iseful Life Code 4) Land improvements: = C ver the useful ite Land Improvements, Aquaculture Structures | 10602010 5 yes. Sher the ue te + Land Improvements, Reforestation Projects 10602020 | Not subjectto || tas ma weg ‘). Upland Reforestation depreciation || usetl” io of the b) Marshland/Swamp/Peatland Reforestation peetenett ao ©) Others (Clonal Nursery, Modernized / eee Mechanized Forest Nursery zt (nefrntction + Other Land Improvements (such as parking lot, Projects refer 0 fandscape, walkways, driveways, covered walks, | 10602880 DENT Mase Ne pain seg) 2016-292 dated a) Access road 7 yrs.* May at, Acie) ie Sys: || -

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