Chapter 3.

DESCRIPTION OF ACCOUNTS

Sec. 11. Description of Accounts. Each account in the

chart of accounts is defined/described. Instructions on when to debit
and credit the balance sheet and intermediate accounts are also
presented.

ASSETS

CASH

Sec. 12. Cash in Treasury (101). This account is used to

record in the books of local government units the amount of cash in
their respective Treasuries.

Debit this account for:

Central Bank notes, coins, checks, bill of

exchange and drafts received by local
treasurers
Money order received by local treasurers
Other legal tenders received

Credit this account for:

Deposits with depository banks

Withdrawals or reductions of the above items

Sec. 13. Petty Cash Fund (105). This account is used to

record in the books of the agency, the cash advances granted to
regular or special disbursing officers for the creation of Petty Cash
Fund and payment of petty or miscellaneous authorized expenditures
which cannot be conveniently paid by check.

Debit this account for:

Cash advances granted as Petty Cash Fund to

duly designated regular or special disbursing
officers for payment of petty or
miscellaneous authorized expenditures

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 Credit this account for:

Final liquidation of Petty Cash Fund

Refund of unused portion at year-end

Sec. 14. Cash – Disbursing Officers (107). This account is

used to record the amount of cash advances granted to either regular
or special disbursing officers of the agency.

Debit this account for:

Cash advances to duly designated regular or

special disbursing officers for payment of
salaries and wages
Cash advances to postmasters and telegraph
operators for authorized disbursements
Cash advance to special disbursing officers for
specific purpose or activity

Credit this account for:

Liquidation/Authorized official payments made

by disbursing officers/postmasters/telegraph
operators
Refund of unused portion of advances upon
completion of the purpose/activity or at end
of year
Incurrence of cash shortage

Sec. 15. Cash in Bank – Local Currency, Current

Account (110). This account is used to record deposits/withdrawals
in local currency in a current account maintained with Authorized
Government Depository Banks (AGDBs).

Debit this account for:

Deposits of local currency in current account

Credit advices/memos received
Interest earned net of withholding tax

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 Credit this account for:

Checks issued
Debit advices/memos received

Sec. 16. Cash in Bank – Local Currency, Savings

Account (111). This account is used to record deposits/withdrawals
in local currency in a savings account maintained with AGDBs.

Debit this account for:

Deposits of local currency in savings account

Credit advices/memos received
Interest earned net of withholding tax

Credit this account for:

Withdrawal or reduction of deposits

Debit advices/memos received

Sec. 17. Cash in Bank – Local Currency, Time Deposits

(112). This account is used to record placement in local currency of
excess cash or cash not earmarked for immediate use with AGDBs
for a specified period.

Debit this account for:

Deposits of local currency for a specific period

Interest earned net of withholding tax

Credit this account for:

Withdrawal of deposits or redemption upon

maturity

Sec. 18. Cash in Bank – Foreign Currency, Current

Account (113). This account is used to record deposits and
withdrawal in foreign currency in current account maintained with
AGDBs.

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 Debit this account for:

Deposits of foreign currency in current account

Credit advices /memos received
Interest earned net of withholding tax

Credit this account for:

Checks issued
Debit advices/memos received

Sec. 19. Cash in Bank – Foreign Currency, Savings

Account (114). This account is used to record deposits/withdrawals
in foreign currency in savings account maintained with AGDBs.

Debit this account for:

Deposits of foreign currency in savings account

Credit advices/memos received
Interest earned net of withholding tax

Credit this account for:

Withdrawals or reduction of deposits

Debit advices/memos received

Sec. 20. Cash in Bank – Foreign Currency, Time

Deposits (115). This account is used to record time deposits in
foreign currency maintained with AGDBs.

Debit this account for:

Deposits of foreign currency for a specific

period
Interest earned net of withholding tax

Credit this account for:

Withdrawals or reduction of deposits due to

redemption at maturity

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RECEIVABLES

Sec. 21. Accounts Receivable (121). This account is used to

record the amount due from customers/clients resulting from services
rendered, trading/business transactions or sale of merchandise or
property which are expected to be collected in the regular course of
business or over a definite period.

Debit this account for:

Services rendered on account

Sale of merchandise or property on account
Other amount due from customers/client
resulting from trading/business transactions/
operations

Credit this account for:

Collection of the amount due from customers/

clients
Authorized write-off of accounts

Sec. 22. Notes Receivable (122). This account is used to

record the value of promissory notes, time drafts, trade acceptances
and other negotiable short-term instruments from trade debtors.

Debit this account for:

Value of promissory notes, time drafts, trade

acceptances and other negotiable short-
term instruments received

Credit this account for:

Collections made from promissory notes, time

drafts, trade acceptances and other
negotiable short-term instruments
Authorized write-off of accounts

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 Sec. 23. Loans Receivable, Current (123). This account is
used to record the amount of short-term loans and current portion of
long-term loans granted by the LGU to duly authorized recipients in
accordance with existing agreement.

Debit this account for:

Short-term loans granted to duly authorized

recipients
Current portion of long-term loans receivables

Credit this account for:

Collections made from the loans granted

Authorized write-off of accounts

Sec. 24. Real Property Tax Receivable (124). This account

is used to record the amount due from taxpayers for basic real
property taxes.

Debit this account for:

Amount due from taxpayers for basic real

property taxes

Credit this account for:

Collection of the amount due from taxpayers

Sec. 25. Special Education Tax Receivable (125). This

account is used to record the amount due from taxpayers for
additional levy on real property taxes accruing to Special Education
Fund.

Debit this account for:

Amount due from taxpayers for additional levy

on real property taxes

Credit this account for:

Collection of the amount due from taxpayers

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 Sec. 26. Interest Receivable (126). This account is used to
record the uncollected interest earned from short term/long term
investments.

Debit this account for:

Interest earned but not yet collected

Credit this account for:

Collection of the interest earned

Authorized write-off of accounts

Sec. 27. Due from Officers and Employees (128). This

account is used to record the amount due from officers and
employees of the agency and advances granted for official travels.

Debit this account for:

Overpayment of salaries, fringe benefits and

other emoluments
Cash shortages
Cash Advances granted for travel (local and
foreign) subject to liquidation
Other receivables from officers and employees

Credit this account for:

Collection of overpayment of salaries, fringe

benefits and other emoluments
Collections of cash shortages
Liquidation of cash advances granted for travel
Refund of excess/unused portion of cash
advances
Authorized write-off of accounts

Sec. 28. Due from Other Funds (129) This account is used
to record the amount due from other funds of the LGUs.

Debit this account for:

Receivables from other funds of LGUs

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 Credit this account for:

Receipt of amount due from other funds of

LGUs

Sec. 29. Due from NGAs (130). This account is used to

record the amount due from departments, bureaus and other offices
of the National Government.

Debit this account for:

Amount advanced for the account of NGAs

Overpayment to NGAs
Amount due from DBM for IRA, Share from
National Wealth, etc. covered by allotment
advice
Adjustment

Credit this account for:

Collection of receivables from NGAs

Receipt of IRA
Authorized write-off of accounts

Sec. 30. Due from LGUs (131). This account is used to

record the amount due from provinces, cities, municipalities,
barangays and other local government units.

Debit this account for:

Advances granted to LGUs

Share of LGUs from Real Property Tax (Basic
and additional)
Overpayment to LGUs

Credit this account for:

Collections of receivables from LGUs

Authorized write-off of accounts

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 Sec. 31. Due from GOCCs (132). This account is used to
record the amounts due from Government-Owned and/or Controlled
Corporations including Government Financial Institutions (GFIs).

Debit this account for:

Amount paid for the account of GOCCs/GFIs

Insurance claim from General Insurance Fund of
GSIS
Overpayment to GOCCs/GFIs
Loans granted to GOCCs/GFIs

Credit this account for:

Collections of receivables from GOCCs/GFIs

Authorized write-off of accounts

Sec. 32. Due from NGOs/POs (133). This account is used

to record the release of funds entrusted to Non-Governmental
Organizations/Peoples’ Organizations (NGOs/POs) for the
implementation of government projects.

Debit this account for:

Release of funds entrusted to NGOs/POs

Credit this account for:

Liquidation of funds entrusted to NGO/POs

Refund of unused fund

Sec. 33. Receivables – Disallowances/Charges (138). This

account is used to record the amount due from officers and
employees and those outside of government agencies for audit
disallowances/charges which have become final and executory.

Debit this account for:

Amount due from officers and employees

resulting from audit disallowances/charges
which have become final and executory

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

Credit this account for:

Cash settlement of audit disallowances/charges

Compliance to requirements or non-cash
settlement

Sec. 34. Other Receivables (139). This account is used to

record the amount due from other debtors, not falling under any of
the specific types of receivables.

Debit this account for:

Amount due from debtors and entities which

cannot be classified under the specific
receivable accounts

Credit this account for:

Collection of the amount due from other debtors

Authorized write-off

Sec. 35. Allowance for Doubtful Accounts (301). This

account is used to record the reduction in the value of trade
receivable accounts which is estimated as uncollectible.

Debit this account for:

Accounts of customer/clients which have been

determined to be uncollectible for which
authority to write-off has been granted

Credit this account for:

Estimated amount of uncollectible accounts

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MARKETABLE SECURITIES

Sec. 36. Treasury Bills (140). This account is used to

record purchase/acquisition of short-term debt instruments issued by
the National Government, the maturity of which is within one year.

Debit this account for:

Cost of treasury bills purchased

Credit this account for:

Resale or disposition of treasury bills

Sec. 37. Stocks (141). This account is used to record the

cost of stocks acquired as temporary investments.

Debit this account for:

Purchase of stocks

Credit this account for:

Sale/resale or disposition of stocks

Sec. 38. Bonds (142). This account is used to record the

cost of bonds acquired as temporary investments.

Debit this account for:

Purchase of bonds

Credit this account for:

Resale or disposition of bonds

Sec. 39. Other Marketable Securities (143). This account

is used to record the cost of other marketable securities acquired as
temporary investments.

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 Debit this account for:

Purchase of other types of marketable securities

Credit this account for:

Resale or disposition of other types of

marketable securities

INVENTORIES

Sec. 40. Raw Materials Inventory (144). This account is

used to record the value of raw materials purchased for use in
production.

Debit this account for:

Raw materials purchased for use in production

Credit this account for:

Raw materials issued for use in production

Inventory shortage/loss

Sec. 41. Work-In-Process Inventory (145). This account is

used to record the cost and/or other appropriate value of job or work
orders which have been started but unfinished or still in the process
of manufacture as of the end of the accounting period.

Debit this account for:

Raw materials, labor and overhead put into

production

Credit this account for:

Cost or value of the finished products

Inventory shortage/loss

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 Sec. 42. Finished Goods Inventory (146). This account is
used to record the cost of completed job or work orders and goods
manufactured/produced/processed.

Debit this account for:

Cost or value of the finished products

Credit this account for:

Finished products transferred to Merchandise

Inventory Account
Finished products issued
Inventory shortage/loss

Sec. 43. Merchandise Inventory (147). This account is

used to record the cost or other appropriate value of merchandise and
other property which have been purchased or produced for sale. It
includes but not limited to drugs and medicines for
hospitals/sanitaria, finished products fabricated/manufactured/
produced out of agency/schools’ manufacturing operations which are
intended for sale.

Debit this account for:

Articles purchased for sale

Goods or merchandise for sale which have been
manufactured or produced, conversion cost
of which have been charged to
appropriations or allotments
Cost of drugs and medicines of
hospitals/sanitaria for sale to patients

Credit this account for:

Sale, issuance or other modes disposition of the

above items

Sec. 44. Accountable Forms Inventory (148). This account

is used to record the cost or appropriate value of accountable forms
acquired/requisitioned for use in the course of government operations
and/or sale.

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 Debit this account for:

Cost or appropriate value of accountable forms

Credit this account for:

Sale/Issuance of accountable forms (at cost)

Other modes of disposition

Sec. 45. Office Supplies Inventory (149). This account is

used to record the value of consumable items and accounting forms
purchased or acquired for use in the course of government
operations.

Debit this account for:

Purchase of office supplies and materials

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

Credit this account for:

Use/consumption of the above items

Other modes of disposition

Sec. 46. Medical, Dental and Laboratory Supplies

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

Debit this account for:

Purchase of –
Medical and dental supplies
Drugs and medicines for
clinic/hospital/sanitary/ center
consumption
Laboratory supplies for use in research
activities

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 Credit this account for:

Use/consumption of the above items

Other modes of disposition

Sec. 47. Food/Non-Food/Supplies Inventory (151). This

account is used to record the appropriate value of food and non-food
inventory in hospitals (Dietary Units) and penitentiary. It also
includes those items purchased for distribution to people affected by
calamities/disasters/areas in conflict. All purchases of perishable
items shall be directly charged to Food and Non-food Expense (851)

Debit this account for:

Purchase of food and non-food for use by

patients, inmates and people affected in
calamity-ridden areas

Credit this account for:

Use/Consumption
Other modes of disposition

Sec. 48. Gasoline, Oil and Lubricants Inventory (152).

This account is used to record the cost of gasoline, oil and lubricant
purchased for stock to be used in government operations.

Debit this account for:

Purchase of gasoline, oil and lubricants for stock

to be consumed in government operations

Credit this account for:

Use/consumption of the above items

Other modes of disposition
Adjustment

Sec. 49. Agricultural Supplies Inventory (153). This

account is used to record the cost or appropriate value of agricultural
supplies purchased or acquired thru donation for use in the
implementation of government programs, or intended for sale.

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 Debit this account for:

Purchase or receipt of donated fertilizers and

pesticides
Purchase or receipt of donated other agricultural
supplies

Credit this account for:

Sale of fertilizers and pesticides and other

agricultural supplies
Issuance or consumption for the implementation
of projects
Other modes of disposition

Sec. 50. Livestock and Crops Inventory (154). This

account is used to record the cost or appropriate value of fruits/crops
harvested and livestock acquired or purchased to be used in the
dispersal program/project of the government. It is also used to record
livestock produced and offered for sale upon reaching marketable
age.

Debit this account for:

Purchase or acquisition of livestock to be used in

the dispersal program/project of the
government
Livestock offered for sale upon reaching
marketable age
Value of harvested fruits and crops

Credit this account for:

Issuance/dispersal of livestock to the recipient

Sale of livestock/fruits and crops
Other modes of disposition

Sec. 51. Spare Parts Inventory (155). This account is used

to record the cost or appropriate value of spare parts purchased for
the repair of vehicles, aircraft, industrial machinery and other
equipment.

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 Debit this account for:

Purchase of spare parts for use in the repair of

vehicles, aircraft, industrial machinery and
other equipment

Credit this account for:

Issuance of spare parts

Other modes of disposition

Sec. 52. Construction Materials Inventory (156). This

account is used to record the cost or appropriate value of construction
materials purchased for projects undertaken by administration.

Debit this account for:

Purchase of construction materials for projects

undertaken by administration

Credit this account for:

Construction materials issued

Other modes of disposition

Sec. 53. Other Agricultural Products Inventory (157).

This account is used to record the cost or appropriate value of
produce from fishery and other agricultural products not elsewhere
classified which are intended for sale.

Debit this account for:

Inventory of produce from fishery and other

agricultural products
Adjustment

Credit this account for:

Sale or other modes of disposition of fish and

other agricultural products
Adjustment

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 Sec. 54. Confiscated Goods Inventory (158). This account
is used to record the cost or appraised value of confiscated goods and
properties which are decided in favor of the government.

Debit this account for:

Confiscated goods and properties

Credit this account for:

Sale of confiscated goods and properties

Other modes of disposal of confiscated goods
and properties

Sec. 55. Other Inventory Items (160). This account is used

to record the cost or appropriate value of inventories which cannot be
classified under specific inventory accounts.

Debit this account for:

Inventory of forms/brochures/leaflets/motor
vehicle plates/car stickers, etc.
Inventory of workbooks for distribution to public
schools
Inventory of waste products/scrap materials
Other inventory items

Credit this account for:

Sale/Issuance of other inventory items

Other modes of disposition

PREPAID EXPENSES

Sec. 56. Prepaid Rent (161). This account is used to record

the advance payment for lease/rental of buildings, land, equipment,
office space, vehicle and property, plant and equipment for use in
government operations.

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 Debit this account for:

Advance payment and deposit for lease/rental of

land, buildings, office space, equipment,
vehicles and other properties for use in
government operations

Credit this account for:

Expired or expense portion at the end of the

accounting period

Sec. 57. Prepaid Insurance (162). This account is used to

record the advance payment for fidelity bond premiums of
accountable officers insurance premiums and government properties.

Debit this account for:

Advance payment for -

Fidelity bond premiums of accountable
officers
Insurance premiums of government
properties

Credit this account for:

Expired or expense portion at end of the

accounting period

Sec. 58. Prepaid Interest (164). This account is used to

record the advance payment of interest for loans
contracted/guaranteed by the government.

Debit this account for:

Interest payments made in advance for loans

contracted/guaranteed by the government

Credit this account for:

Expired or expense portion at the end of the

accounting period

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 Sec. 59. Other Prepaid Expenses (165). This account is
used to record other prepaid expenses not included with any specific
prepaid accounts.

Debit this account for:

Other prepaid expenses

Credit this account for:

Expired portion of the other prepaid expenses at

the end of accounting period

OTHER CURRENT ASSETS

Sec. 60. Guaranty Deposits (166). This account is used to

record the amount of cash deposits, subject to refund to secure or
guaranty compliance with certain requirements in a transaction.

Debit this account for:

Deposits for the exercise of an option to levy or

lease
Deposits to secure coinage
Deposits to secure BSP Notes
Deposits to secure stocks and bonds of GOCCs
Other deposits to guaranty performance

Credit this account for:

Refund/forfeiture of the above deposits

Sec. 61. Deposits on Letters of Credit (167). This account

is used to record deposits made for opening letters of credit.

Debit this account for:

Deposits made for opening domestic/foreign

letters of credit

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 Credit this account for:

Application/utilization of deposits for domestic/

foreign letters of credit

Sec. 62. Advances to Contractors (168). This account is

used to record the payment authorized by law to be made in advance
to contractors upon submission of the required bond or stand by letter
of credit.

Debit this account for:

Payment of authorized advances to contractors

Credit this account for:

Recoupment of authorized advances to

contractors

Sec. 63. Other Current Assets (170). This account is used

to record deposits on containers and other current assets which
cannot be classified under any of the foregoing accounts.

Debit this account for:

Deposit on containers such as drums, gas, or

oxygen or acetylene tanks, bottles and other
containers
Other current assets which cannot be classified
under any of the specific current accounts

Credit this account for:

Sale or disposition of the above items

Refund/Forfeiture of deposits made

LONG-TERM INVESTMENTS

Sec. 64. Loans Receivable – Long Term, LGUs (171).

This account is used to record long term loans granted/relent to
LGUs.

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 Debit this account for:

Long term loans granted to LGUs

Credit this account for:

Transfer of the current portion of the loan to

Loans Receivable, Current

Sec. 65. Loans Receivable – Long-Term, Others (173).

This account is used to record long-term loans granted to private
entities as authorized.

Debit this account for:

Grant of long-term loans to private entities as

authorized

Credit this account for:

Transfer of the current portion of the loan to

Loans Receivable, Current

Sec. 66. Investments in Stocks (174). This account is used

to record long-term investments in stocks of government and private
corporations.

Debit this account for:

Subscription to capital stocks of government

and private corporations

Credit this account for:

Sale of stocks

Sec. 67. Investments in Bonds (175). This account is used

to record long-term investments in bonds of government and private
corporations.

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 Debit this account for:

Purchase of bonds issued by government and

private corporations

Credit this account for:

Redemption of bonds
Resale of bonds

Sec. 68. Investments in GOCCs (176). This account is used

to record long-term investments/loans to GOCCs/GFIs.

Debit this account for:

Long-term investments/loans to GOCCs/GFIs

Credit this account for:

Payments received or settlement made for

investments

Sec. 69. Sinking Fund – Cash (177). This account is used

to record cash set aside for the liquidation of long-term debt and for
the purchase of sinking fund securities reserved for liquidation of
long-term debts.

Debit this account for:

Setting aside of cash as sinking fund.

Credit this account for:

Purchase of sinking fund securities for the

purpose of investment and liquidation of
long-term debt.

Sec. 70. Sinking Fund – Securities (178). This account is

used to record securities purchased out of sinking fund cash to
generate income while waiting for the liquidation of long-term
indebtedness.

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 Debit this account for:

Purchase of sinking fund securities.

Credit this account for:

Redemption of securities
Sale of securities
Adjustment

Sec.71. Other Long –Term Investments (179). This

account is used to record all other types of long-term investments
which cannot be classified under specific investment accounts. It
includes cost of stocks/securities purchased from service enterprises
as required before service connection is made and loans granted to
private entities, as authorized.

Debit this account for:

All other types of long-term investments

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

Credit this account for:

Sale or disposition of other types of long-term

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

PROPERTY, PLANT and EQUIPMENT

Sec.72. Land (201). This account is used to record the cost

or appraised value or other appropriate value of land acquired by the
government including property rights and interests.

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 Debit this account for:

Purchase of land
Transfer from government agencies, private
entities and individuals
Transfer due to court order
Transfer from other funds
Free acquisition/donation
Appreciation
Acquisition of land levied and forfeited by LGU
for want of bidders

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Donation
Redemption of forfeited land

Sec. 73. Land Improvements (202). This account is used to

record the cost or appropriate value of land improvements which are
more or less permanent or capital in nature such as; flagpoles,
sidewalks, fences, driveways, parking areas, etc.

Debit this account for:

Construction of land improvements

Transfer of land to where it was constructed by
government agencies, private entities and
individuals
Transfer due to court order
Free acquisition/donation
Transfer from other funds

Credit this account for:

Sale of Land to where it was constructed

Transfer to other government agencies
Transfer to other funds
Involuntary destruction
Donation of land to where it was constructed

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 Sec. 74. Accumulated Depreciation - Land Improvements
(302). This account is used to record the cumulative reduction in
value of land improvements due to use in the course of operation or
in production of income.

Debit this account for:

Accumulated amount of depreciation charged

against the land improvement upon
destruction or transfer/sale of land to where
it was constructed.

Credit this account for:

Periodic charges as depreciation expense for

land improvements

Sec. 75. Leasehold Improvements (203). This account is

used to record the cost or appropriate value of improvements made
on leased property.

Debit this account for:

Cost or appropriate value of improvements on

leased property

Credit this account for:

Reduction of leasehold improvements due to

destruction
Other modes of disposition

Sec. 76. Accumulated Depreciation - Leasehold

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

Debit this account for:

Accumulated amount of depreciation charged

against the leasehold improvements upon
demolition or termination of the lease

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 Credit this account for:

Periodic charges as depreciation expense for

leasehold improvements

Sec. 77. Buildings (204). This account is used to record the

cost or appraised value of the buildings purchased or constructed
(other than school buildings, market, slaughterhouse, hospitals and
health centers), including related improvements which are capital in
nature.

Debit this account for:

Purchase or construction of buildings

Additions, improvements, alteration,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property
Transfer from other government agencies, private
entities and individuals
Transfer due to court order
Transfer from other funds
Free acquisition/donation

Credit this account for:

Sale
Transfers to government agencies
Transfer to other funds
Involuntary destruction
Demolition
Donation

Sec. 78. Accumulated Depreciation - Buildings (304).

This account is used to record the cumulative reduction in value of
buildings (other than school buildings, market, slaughterhouse,
hospitals and health centers) due to use in the course of operation or
in production of income.

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 Debit this account for:

Accumulated amount of depreciation charged

against the building upon retirement, sale or
demolition

Credit this account for:

Periodic charges as depreciation expenses for

buildings

Sec. 79. School Buildings (205). This account is used to

record the cost or appraised value of school buildings purchased or
constructed including related improvements which are capital in
nature.

Debit this account for:

Purchase or construction of school buildings

Additions, improvements, alteration,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property
Transfer from government agencies, private
entities and individuals
Transfer due to court order
Transfer from other funds
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Demolition
Donation

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 Sec. 80. Accumulated Depreciation - School Buildings
(305). This account is used to record the cumulative reduction in
value of school buildings due to use in the course of operation or in
production of income.

Debit this account for:

Cumulative amount of depreciation charged

against the building upon retirement, sale
or demolition

Credit this account for:

Periodic charges as depreciation expenses for

school buildings

Sec. 81. Markets and Slaughterhouses (206). This account

is used to record the cost or appraised value of markets and
slaughterhouses acquired or constructed.

Debit this account for:

Purchase or construction of markets and

slaughterhouses
Additions, improvements, alteration,
replacements, major repairs, etc. which are
capitalized when it extends the life,
increase the capacity or improve the
efficiency or safety of the property
Transfer from government agencies, private
entities and individuals
Transfer due to court order
Transfer from other funds
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

52
 For purposes of identifying the particular asset
account the following sub-accounts shall be used:

206.1 - Markets
206.2 – Slaughterhouse

Sec. 82. Accumulated Depreciation - Markets and

Slaughterhouses (306). This account is used to record the
cumulative reduction in value of markets and slaughterhouses due to
use in the course of operation or in production of income.

Debit this account for:

Cumulative amount of depreciation charged

against markets and slaughterhouses upon
retirement, sale or demolition

Credit this account for:

Periodic charges as depreciation expenses for

markets and slaughterhouses

For purposes of identifying the particular

depreciation account the following sub-accounts shall be
used:

306.1 - Accumulated Depreciation, Markets

306-02 - Accumulated Depreciation, Slaughterhouse

Sec. 83. Hospitals and Health Centers (207). This account

is used to record the cost or appraised value of hospitals and health
centers acquired or constructed.

Debit this account for:

Purchase or construction of hospitals and health

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

53
 Transfer from government agencies, private
entities and individuals
Transfer due to court order
Transfer from other funds
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Demolition
Donation

For the purpose of identifying the particular asset

account the following sub-accounts shall be used:

207-01 – Hospitals
207-02 – Health Centers

Sec. 84. Accumulated Depreciation - Hospitals and

Health Centers (307). This account is used to record the cumulative
reduction in value of hospitals and health centers due to use in the
course of operation or in production of income.

Debit this account for:

Cumulative amount of depreciation charged

against hospitals and health centers upon
retirement, sale or demolition

Credit this account for:

Periodic charges as depreciation expenses for

hospitals and health centers

For the purpose of identifying the particular asset

account the following sub-accounts shall be used:

307-01 – Accumulated Depreciation, Hospitals

307-02 – Accumulated Depreciation, Health Centers

54
 Sec. 85. Other Structures (208). This account is used to
record the cost or appraised value of other structures acquired or
constructed.

Debit this account for:

Purchase or construction of other structures

Additions, improvements, alteration,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property
Transfer from government agencies, private
entities and individuals
Transfer due to court order
Transfer from other funds
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Demolition
Donation

Sec. 86. Accumulated Depreciation - Other Structures

(308). This account is used to record the cumulative reduction in
value of other structures due to use in the course of operation or in
production of income.

Debit this account for:

Cumulative amount of depreciation charged

against other structures upon retirement,
sale or demolition

Credit this account for:

Periodic charges as depreciation expense for

other structures

55
 Sec. 87. Industrial Machineries (209). This account is used
to record the cost or appraised value of industrial machineries
acquired or purchased.

Debit this account for:

Purchase of industrial machineries

Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

Sec. 88. Accumulated Depreciation - Industrial

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

Debit this account for:

Cumulative amount of depreciation charged

against industrial machineries upon
retirement, sale or destruction

Credit this account for:

Periodic charges as depreciation expenses

forindustrial machineries

56
 Sec. 89. Other Machineries (210). This account is used to
record the cost or appraised value of machinery and equipment
acquired or purchased.

Debit this account for:

Purchase of machinery and equipment

Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

Sec. 90. Accumulated Depreciation – Other Machineries

(310). This account is used to record the cumulative reduction in
value of machinery due to use in the course of operation or in
production income.

Debit this account for:

Cumulative amount of depreciation charged

against other machinery upon retirement,
sale or destruction

Credit this account for:

Periodic charges as depreciation expenses for

other machinery

57
 Sec. 91. Firefighting Equipment and Accessories (211).
This account is used to record the cost or appraised value of
firefighting equipment and accessories acquired or purchased.

Debit this account for:

Purchase of firefighting equipment and

accessories
Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

For the purpose of identifying the particular asset

account the following sub-accounts shall be used:

211-02 – Firefighting Equipment

211-02 – Accessories

Sec. 92. Accumulated Depreciation - Firefighting

Equipment and Accessories (311). This account is used to record
the cumulative reduction in value of firefighting equipment and
accessories due to use in the course of operation.

Debit this account for:

Cumulative amount of depreciation charged

against firefighting equipment and

58
 accessories upon retirement, sale or
destruction

Credit this account for:

Periodic charges as depreciation expenses

forfirefighting equipment and accessories

For the purpose of identifying the depreciation of the

particular asset account the following sub-accounts shall be
used:

311-01 – Accumulated Depreciation, Firefighting

Equipment
311-02 – Accumulated Depreciation, Accessories

Sec. 93. Construction and Heavy Equipment (212). This

account is used to record the cost or appraised value of construction
and heavy equipment purchased or acquired.

Debit this account for:

Purchase of construction and heavy equipment

Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

59
 Sec. 94. Accumulated Depreciation - Construction and
Heavy Equipment (312). This account is used to record the
cumulative reduction in value of construction and heavy equipment
due to use in the course of operation or in production of income.

Debit this account for:

Cumulative amount of depreciation charged

against construction and heavy equipment
upon retirement, sale or destruction

Credit this account for:

Periodic charges as depreciation expenses for

Construction and heavy equipment

Sec. 95. Technical and Scientific Equipment (214). This

account is used to record the cost or appraised value of technical and
scientific equipment acquired or purchased.

Debit this account for:

Purchase of technical and scientific equipment

Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

60
 For the purpose of identifying the particular asset
account the following sub-accounts shall be used:

214-01 – Technical Equipment

214-02 – Scientific Equipment

Sec. 96. Accumulated Depreciation - Technical and

Scientific Equipment (314). This account is used to record the
cumulative reduction in value of technical and scientific equipment
due to use in the course of operation or in production of income.

Debit this account for:

Cumulative amount of depreciation charged

against technical and scientific equipment
upon retirement, sale or destruction

Credit this account for:

Periodic charges as depreciation expenses for

technical and scientific equipment

For the purpose of identifying the depreciation of the

particular asset account, the following sub-accounts shall be
used:

314-01 – Accumulated Depreciation - Technical

Equipment
314-02 – Accumulated Depreciation - Scientific
Equipment

Sec. 97. IT Equipment and Software (215). This account

is used to record the cost or appraised value of IT equipment and
software acquired, purchased or developed.

Debit this account for:

Purchase of IT equipment and software

developed
Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase

61
 the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

For the purpose of identifying the particular asset

account the following sub-accounts shall be used:

215-01 – IT Equipment (from PCs to more complex

mainframes)
215-02 – IT peripheral equipment (such as printers,
external devices for back-up storage and
similar items)
215-03 – Software (consisting of operating systems,
application software and the like)

Sec. 98. Accumulated Depreciation - IT Equipment

(315). This account is used to record the cumulative reduction in
value of IT equipment and software due to use in the course of
operation or in production of income.

Debit this account for:

Cumulative amount of depreciation charged

against IT equipment upon retirement,
sale, obsolescence or destruction

Credit this account for:

Periodic charges as depreciation expense for

IT equipment

62
 Sec. 99. Telegraph, Telephone, Cable, TV and Radio
Equipment (216). This account is used to record the cost or
appraised value of telegraph, telephone, cable, TV and radio
equipment acquired.

Debit this account for:

Purchase of telegraph, telephone, cable, TV and

radio equipment
Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

For the purpose of identifying the particular asset

account the following sub-accounts shall be used:

216-01 – Telegraph
216-02 – Telephone
216-03 – Cable
216-04 – TV
216-05 – Radio Equipment

Sec. 100. Accumulated Depreciation - Telegraph,

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

63
 Debit this account for:

Cumulative amount of depreciation charged

against telegraph, telephone, TV cable and
radio equipment upon retirement, sale or
destruction

Credit this account for:

Periodic charges as depreciation expenses for

telegraph, telephone, cable, TV and radio
equipment

For the purpose of identifying the depreciation of the

particular asset account, the following sub-accounts shall be
used:

316-01 – Accumulated Depreciation, Telegraph

316-02 – Accumulated Depreciation, Telephone
316-03 – Accumulated Depreciation, Cable
316-04 – Accumulated Depreciation, TV
316-05 – Accumulated Depreciation, Radio
Equipment

Sec. 101. Artesian Wells, Reservoirs, Pumping Stations

and Conduits. (217). This account is used to record the cost or
appraised value of artesian wells, reservoirs, pumping stations and
conduits acquired/ purchased/constructed.

Debit this account for:

Purchase/construction of artesian wells,

reservoirs, pumping stations, etc.
Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

64
 Credit this account for:
Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

For the purpose of identifying the particular asset

account, the following sub-accounts shall be used:

217-01 – Artesian Wells

217-02 – Reservoirs
217-03 - Pumping Stations
217-04 – Conduits

Sec. 102. Accumulated Depreciation - Artesian Wells,

Reservoirs, Pumping Stations, and Conduits (317). This account is
used to record the cumulative reduction in value of artesian wells,
reservoirs, pumping stations and conduits due to use in the course of
operation or in production of income.

Debit this account for:

Cumulative amount of depreciation charged

against artesian wells, reservoirs, pumping
stations and conduits upon retirement, sale
or destruction

Credit this account for:

Periodic charges as depreciation expenses for

artesian wells, reservoirs, pumping stations
and conduits

For the purpose of identifying the depreciation of the

particular asset account, the following sub-accounts shall be
used:

317-01 – Accumulated Depreciation, Artesian Wells

317-02 – Accumulated Depreciation Reservoirs
317-03 – Accumulated Depreciation Pumping
Stations
317-04 – Accumulated Depreciation Conduits.

65
 Sec. 103. Motor Vehicles (218). This account is used to
record the cost or appraised value of motor vehicles acquired or
purchased.

Debit this account for:

Purchase of motor vehicles

Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

Sec. 104. Accumulated Depreciation - Motor Vehicles

(318). This account is used to record the cumulative reduction in
value of motor vehicles due to use in the course of operation or in
production of income.

Debit this account for:

Cumulative amount of depreciation charged

against motor vehicles upon retirement, sale
or destruction

Credit this account for:

Periodic charges as depreciation expense for

motor vehicles

66
 Sec. 105. Watercrafts (219). This account is used to record
the cost or appraised value of watercrafts acquired or purchased.

Debit this account for:

Purchase of watercrafts
Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

Sec. 106. Accumulated Depreciation - Watercrafts (319).

This account is used to record the cumulative reduction in value of
watercrafts due to use in the course of operation or in production of
income.

Debit this account for:

Cumulative amount of depreciation charged

against watercrafts upon its retirement, sale
or destruction

Credit this account for:

Periodic charges as depreciation expenses for

watercrafts

67
 Sec. 107. Trains (220). This account is used to record the
cost or appraised value of trains acquired or purchased.

Debit this account for:

Purchase of trains
Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

Sec. 108. Accumulated Depreciation - Trains (320). This

account is used to record the cumulative reduction in value of trains
due to use in the course of operation or in production of income.

Debit this account for:

Cumulative amount of depreciation charged

against trains upon retirement, sale or
destruction

Credit this account for:

Periodic charges as depreciation expenses for

trains

Sec. 109. Aircrafts/Aircraft Ground Equipment (221).

This account is used to record the cost or appraised value of aircraft
acquired or purchased.

68
 Debit this account for:

Purchase of aircrafts
Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

For the purpose of identifying the particular asset

account the following sub-accounts shall be used:

221-01 – Aircrafts
221-02 – Aircraft Ground Equipment

Sec. 110. Accumulated Depreciation – Aircrafts/Aircraft

Ground Equipment (321). This account is used to record the
cumulative reduction in value of aircrafts/aircraft ground equipment
due to use in the course of operation or in production of income.

Debit this account for:

Cumulative amount of depreciation charged

against aircrafts/aircraft ground equipment
upon retirement, sale or destruction

Credit this account for:

Periodic charges as depreciation expenses for

aircraft

69
 For the purpose of identifying the depreciation of the
particular asset account, the following sub-accounts shall be
used:

321-01 – Accumulated Depreciation, Aircrafts

321-02 – Accumulated Depreciation, Aircraft
Ground Equipment

Sec. 111. Office Equipment (222). This account is used to

record the cost or appraised value of office equipment acquired.

Debit this account for:

Purchase of office equipment

Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

Sec. 112. Accumulated Depreciation - Office Equipment

(322). This account is used to record the cumulative reduction in
value of office equipment due to use in the course of operation or in
production of income.

70
 Debit this account for:

Cumulative amount of depreciation charged

against office equipment upon retirement,
sale or destruction.

Credit this account for:

Periodic charges as depreciation expenses for

office equipment

Sec. 113. Other Equipment (223). This account is used to

record the cost or appraised value of other equipment acquired or
purchased not falling under specific property, plant and equipment
accounts.

Debit this account for:

Purchase of other types of equipment

Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

Sec. 114. Accumulated Depreciation - Other Equipment

(323). This account is used to record the cumulative reduction in
value of other equipment due to use in the course of operation or in
production of income.

71
 Debit this account for:

Cumulative amount of depreciation charged

against other equipment upon retirement,
sale or destruction

Credit this account for:

Periodic charges as depreciation expenses for

other equipment

Sec. 115. Furniture and Fixtures (224). This account is

used to record the cost or appraised value of furniture and fixtures
acquired or purchased.

Debit this account for:

Purchase of furniture and fixtures

Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

For the purpose of identifying the particular asset

account, the following sub-accounts shall be used:

224-01 – Furniture
224-02 – Fixtures

72
 Sec. 116. Accumulated Depreciation - Furniture and
Fixtures (324). This account is used to record the cumulative
reduction in value of furniture and fixtures due to use in the course of
operation or in production of income.

Debit this account for:

Cumulative amount of depreciation charged

against furniture and fixtures upon
retirement, sale or destruction

Credit this account for:

Periodic charges as depreciation expense for

furniture and fixtures

For the purpose of identifying the depreciation of the

particular asset account, the following sub-accounts shall be
used:

324-01 – Accumulated Depreciation, Furniture

324-02 – Accumulated Depreciation, Fixtures

Sec. 117. Ordnance (225). This account is used to record

the cost or appraised value of ordnance acquired or purchased.

Debit this account for:

Purchase of ordnance
Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

73
 Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

Sec. 118. Accumulated Depreciation - Ordnance (325).

This account is used to record the cumulative reduction in value of
ordnance due to use in the course of operation or in production of
income.

Debit this account for:

Cumulative amount of depreciation charged

against ordnance
upon retirement, sale or destruction

Credit this account for:

Periodic charges as depreciation expenses for

ordnance

Sec. 119. Books (226). This account is used to record the

cost or appraised value of books acquired or purchased. This cover
books in libraries in various schools, in government agencies, and
those purchased for use by students with serviceable life of more than
one year.

Debit this account for:

Purchase of books
Transfer from government/private agencies and
individuals
Transfer from other funds
Items found at station
Free acquisition/donation

74
 Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

Sec. 120. Accumulated Depreciation - Books (326). This

account is used to record the cumulative reduction in value of books
due to use in the course of operation or in production of income.

Debit this account for:

Cumulative amount of depreciation charged

against books upon retirement, sale or
destruction

Credit this account for:

Periodic charges as depreciation expense for

books

Sec. 121. Other Property, Plant and Equipment (227).

This account is used to record the cost or appraised value of other
property, plant and equipment acquired or purchased.

Debit this account for:

Purchase of other Property, Plant and Equipment

Additions, improvements, alterations,
replacements, major repairs, etc. which are
capitalized when it extends the life, increase
the capacity or improve the efficiency or
safety of the property.
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Items found at station
Free acquisition/donation

75
 Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Involuntary destruction
Donation

Sec. 122. Accumulated Depreciation - Other Property,

Plant and Equipment (327). This account is used to record the
cumulative reduction in value of other property, plant and equipment
due to use in the course of operation or in production of income.

Debit this account for:

Cumulative amount of depreciation charged

against other property, plant and
equipment upon retirement, sale or
destruction.

Credit this account for:

Periodic charges as depreciation expense for

other property, plant and equipment

Sec. 123. Work/Other Animals (228). This account is used

to record the cost or appraised value of work animals acquired or
purchased. This includes those in the zoo, wildlife, sanctuary, etc.

Debit this account for:

Purchase of work/other animals

Offspring
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Work/other animals found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies

76
 Transfer to other funds
Death
Donation

For the purpose of identifying the particular asset

account, the following sub-accounts shall be used:

228-01 – Work Animals

228-02 – Other Animals

Sec. 124. Breeding Stocks (229). This account is used to

record the cost or appraised value of breeding stocks acquired or
purchased.

Debit this account for:

Purchase of breeding stocks

Offspring
Transfer from government agencies, private
entities and individuals
Transfer from other funds
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Transfer to other funds
Death
Donation

Sec. 125. Construction in Progress – Agency Assets (230).

This account is used to record the cost or accumulated value of
agency assets which are still under construction to be used in
operation.

Debit this account for:

Materials, labor, overhead and other costs while

the asset is under construction
Construction

77
 Credit this account for:

Transfer to appropriate agency asset account

upon completion

For the purpose of identifying the particular asset

accounts, the following sub-accounts shall be used:

230 – 01 – Buildings
230 – 02 – School Buildings
230 – 03 – Markets and Slaughterhouses
230 – 04 – Hospitals and Health Centers
230 – 09 – Other Structures

Sec. 126. Construction in Progress - Plaza, Parks and

Monuments (231). This account is used to record the cost or
accumulated value of plaza, parks, and monuments which are still
under construction.

Debit this account for:

Cost incurred while plaza, parks and

monuments are under construction

Credit this account for:

Transfer to Public Infrastructures account upon

completion
Transfer of discontinued infrastructure projects
to Public Infrastructures account

For the purpose of identifying the particular asset

accounts, the following sub-accounts shall be used:

231 – 01 – Plaza
231 – 02 – Parks
231 – 03 – Monuments

Sec. 127. Construction in Progress – Roads, Highways

and Bridges (232). This account is used to record the cost or
accumulated value of roads, highways and bridges which are still
under construction.

78
 Debit this account for:

Cost incurred while roads, highways and

bridges are under construction

Credit this account for:

Transfer to Public Infrastructures account

upon completion
Transfer of discontinued infrastructure projects
to Public Infrastructures account

For the purpose of identifying the particular asset

accounts, the following sub-accounts shall be used:

232 – 01 – Roads
232 – 02 – Highways
232 – 03 – Bridges

Sec. 128. Construction in Progress – Ports, Lighthouses,

Harbors, Seawalls, River Walls and Others (233). This account is
used to record the cost or accumulated value of harbors, seawalls,
river walls and other waterway improvements which are still under
construction.

Debit this account for:

Cost incurred while harbors, seawalls, river

walls and others are under construction

Credit this account for:

Transfer to Public Infrastructures account

upon completion
Transfer of discontinued infrastructure projects
to Public Infrastructures account

For the purpose of identifying the particular asset

accounts, the following sub-accounts shall be used:

233 – 01 – Ports
233 – 02 – Lighthouses
233 – 03 – Harbors

79
 233 – 04 – Seawalls
233 – 05 – River Walls
233 – 06 – Others

Sec. 129. Construction in Progress – Airports and

Runways (234). This account is used to record the cost or
accumulated value of airports and runways which are under
construction.

Debit this account for:

Cost incurred while runways and airports are

under construction
Adjustment

Credit this account for:

Transfer to Public Infrastructures account upon

completion
Transfer of discontinued infrastructure projects
to Public Infrastructures account

For the purpose of identifying the particular asset

accounts, the following sub-accounts shall be used:

234 - 01 – Airports
234 – 02 – Runways

Sec. 130. Construction in Progress – Railways (235). This

account is used to record the cost or accumulated value of railways
which are still under construction.

Debit this account for:

Cost incurred while railways are under

construction

Credit this account for:

Transfer to Public Infrastructures account upon

completion
Transfer of discontinued infrastructure projects
to Public Infrastructures account

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 Sec. 131. Construction in Progress – Waterways,
Aqueducts, etc. (236). This account is used to record the cost or
accumulated value of waterways, aqueducts, etc. which are under
construction.

Debit this account for:

Cost incurred while waterways, aqueducts, etc.

are under construction

Credit this account for:

Transfer to Public Infrastructures account upon

completion
Transfer of discontinued infrastructure projects
to Public Infrastructures account

For the purpose of identifying the particular asset

accounts, the following sub-accounts shall be used:

236 – 01 – Waterways
236 – 02 – Aqueducts
236 – 03 – Others

Sec. 132. Construction in Progress – Irrigation, Canals

and Laterals (237). This account is used to record the cost or
accumulated value of irrigation, canals and laterals which are under
construction.

Debit this account for:

Cost incurred while irrigation, canals and

laterals are under construction

Credit this account for:

Transfer to Public Infrastructures account upon

completion.
Transfer of discontinued infrastructure projects
to Public Infrastructures account

For the purpose of identifying the particular asset

accounts, the following sub-accounts shall be used:

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 237 – 01 – Irrigation
237 – 02 – Canals
237 – 03 – Laterals

Sec. 133. Construction in Progress – Electrification,

Power and Energy (238). This account is used to record the cost or
accumulated value of electrification, power, energy and related
structural projects still under construction.

Debit this account for:

Cost incurred while the electrification, power,

energy and related structural projects are
under construction

Credit this account for:

Transfer to Public Infrastructures account upon

completion
Transfer of discontinued infrastructure projects
to Public Infrastructures account
Transfer to appropriate asset account upon
completion in case the project is meant to
be an economic enterprise

Sec. 134. Construction in Progress – Other Public

Infrastructures (241). This account is used to record the cost or
accumulated value of all other Public Infrastructures under
construction not classified under any specific type of public
infrastructure accounts.

Debit this account for:

Cost incurred while other public infrastructures

are under construction

Credit this account for:

Transfer to Public Infrastructures account upon

completion
Transfer of discontinued infrastructure projects
to Public Infrastructures account

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 Sec. 135. Construction in Progress – Reforestation
Projects (242). This account is used to record the cost or
accumulated value of all Reforestation Projects still under
completion.

Debit this account for:

Cost incurred while the Reforestation Projects

are still under completion
Adjustment

Credit this account for:

Transfer to Public Infrastructures account upon

completion
Transfer of discontinued infrastructure projects
to Public Infrastructures account

Sec. 136. Public Infrastructures (243). This account is

used to record completed/turned over public infrastructure projects
and those projects which were discontinued by the government. The
account also includes completed/turned over public infrastructure
projects funded from outstanding long-term indebtedness.

Debit this account for:

Completed/turned-over public infrastructure

projects

Completed public infrastructures funded out of

outstanding loans
Discontinued public infrastructure projects

Credit this account for:

Transfer of completed/turned over/discontinued

public infrastructures to Registry of Public
Infrastructures at end of accounting period
and/or full payment of loan
Transfer to other government agencies

Sec. 137. Reforestation Projects (244). This account is

used to record completed/turned-over reforestation projects and those

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projects which were discontinued by the government for valid
reason.

Debit this account for:

Completed/turned-over reforestation projects

Discontinued reforestation projects

Credit this account for:

Transfer to Registry of Reforestation Projects at

end of accounting period

Sec. 138. Arts, Archeological Specimen and Other

Exhibits (245). This account is used to record the cost or
accumulated value of art collections, archeological specimens and
other exhibits.

Debit this account for:

Purchase of arts, archeological items and other

exhibits
Transfer from government agencies, private
entities and individuals
Items found at station
Free acquisition/donation

Credit this account for:

Sale
Transfer to government agencies
Involuntary destruction
Donation

For the purpose of identifying the particular asset

accounts, the following sub-accounts shall be used:

245 – 01 – Arts
245 – 02 – Archeological Specimen
245 – 03 – Other Exhibits

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 Sec. 139. Items in Transit (249). This account is used to
record the cost or accumulated value of imported equipment already
paid but not yet delivered/received.

Debit this account for:

Value or cost of imported equipment purchased

or paid but not yet delivered/received

Credit this account for:

Value or cost of equipment delivered/purchased

Sec. 140. Other Assets (251). This account is used to

record the value of obsolete and unserviceable assets as well as other
assets still serviceable but no longer used. These items are not
subject to depreciation.

Debit this account for:

Cost of obsolete and unserviceable assets

including property and equipment no
longer used in the agency operation but
still serviceable

Credit this account for:

Sale
Transfer to government agencies
Donation

85