The Revised Chart of Accounts For Government Corporations

Annex A
THE REVISED CHART OF ACCOUNTS

For Government Corporations
A. CODING SCHEME
1. Codes are assigned to account groups to facilitate location of accounts in

the general and subsidiary ledgers, to provide systematic arrangement and
classification of accounts and facilitate preparation of the consolidated
financial reports as follows:
Code Account Groups

1 Assets
2 Liabilities
3 Equity
4 Income
5 Expenses
2. The account code structure consists of eight (8) mandatory digits as follows:
0 00 00 00 0
Account Group
Major Account Group
Sub-Major Account Group
General Ledger Account

General Ledger Contra-Account
2.1 Account Group represents the accounts classification as to assets,

liabilities, equity, revenue/income and expenses.
2.2 Major account group classifies the account within an account group,
e.g. for assets major accounts: cash and cash equivalents,
investments, receivables, inventories, investment property, etc.
1
2.3 Sub-major account group further classifies the account within the
major account group, e.g. for cash and cash equivalents: Cash on
Hand, Cash in Bank-Local Currency, Cash in Bank-Foreign Currency,
etc.
2.4 General ledger (GL) account represents the account to be presented in

the detailed financial statements, e.g. Cash-Collecting Officer, Petty
Cash, etc. This is composed of two (2) segments. The first two digits
from left is the GL code and the last digit is reserved to indicate
whether it is a contra account like, Allowance for Impairment,
Accumulated Depreciation, etc.
2.5 Coding of assets with and without contra accounts shall be as follows:
Asset without Contra Account
Cash Collecting Officer 1 01 01 01 0
Asset
Cash and Cash Equivalents
Cash on Hand
Cash-Collecting Officers
General Ledger Contra-Accounts
Asset with contra account
Accounts Receivable
1 03 01 01 0
Asset
Receivables
Loans and Receivable

Accounts
Accounts Receivable
General Ledger Contra-
Accounts
2
 Contra-Account of Accounts Receivable
Allowance for Impairment –

Accounts Receivable 1 03 01 01 1
Asset
Receivables
Loans and Receivable

Accounts
Accounts Receivable
Allowance for Impairment –
Accounts Receivable
3
B. LIST OF THE REVISED CHART OF ACCOUNTS
For GOVERNMENT CORPORATIONS
Covering Standards
ACCOUNT TITLES and CODES
(PAS/PFRS/PPSAS)
ASSETS
1 Assets
PAS 1, 7, 32, PPSAS 1, 2, 1 01 Cash and Cash Equivalents
39 28, 29 & 30 1 01 01 Cash on Hand
1 01 01 010 Cash-Collecting Officers
1 01 01 020 Petty Cash
1 01 01 030 Local Currency on Hand
1 01 01 040 Foreign Currency on Hand
1 01 01 050 Checks and Other Cash Items
1 01 01 060 Treasury Fund Capital
PAS 1, 7, 39, PPSAS 1, 2, 1 01 02 Cash in Bank-Local Currency
PFRS 9 28, 29 & 30 1 01 02 010 Cash in Bank-Local Currency, Bangko Sentral ng Pilipinas
1 01 02 020 Cash in Bank-Local Currency, Current Account
1 01 02 030 Cash in Bank-Local Currency, Savings Account
1 01 02 050 Due from Bangko Sentral ng Pilipinas-Local Currency
1 01 02 060 Due from Other Banks-Local Currency
PAS 1, 7, 21, PPSAS 1, 2, 4, 1 01 03 Cash in Bank-Foreign Currency
33, 39, PFRS 7, 28, 29 & 30 1 01 03 010 Cash in Bank-Foreign Currency, Bangko Sentral ng Pilipinas
9 1 01 03 020 Cash in Bank-Foreign Currency, Current Account
1 01 03 030 Cash in Bank-Foreign Currency, Savings Account
1 01 03 050 Due from Bangko Sentral ng Pilipinas-Foreign Currency
1 01 03 060 Due from Other Banks-Foreign Currency
1 01 04 Treasury/Agency Cash Accounts
1 01 04 040 Cash-Modified Disbursement System (MDS), Regular
PAS 1, 7, 21, PPSAS 1, 2, 1 01 05 Cash Equivalents
32, 39, PFRS 9 28, 29 & 30 1 01 05 010 Treasury Bills
1 01 05 020 Time Deposits-Local Currency
1 01 05 030 Time Deposits-Foreign Currency
1 01 05 040 Treasury Bonds
1 01 05 050 Cash in Transit
PAS 1, 32, 39, PPSAS 28, 29 1 02 Investments
PFRS 7, 9 & 30 1 02 01 Financial Assets at Fair Value Through Surplus/Profit or Deficit/Loss
1 02 01 010 Financial Assets Held for Trading
1 02 01 020 Financial Assets Designated at Fair Value Through Surplus/Profit or Deficit/Loss
1 02 01 030 Derivative Financial Assets Held for Trading
1 02 01 040 Derivative Financial Assets Designated at Fair Value Through Surplus/Profit or Deficit/Loss
PAS 1, 32, 39, PPSAS 28, 29 1 02 02 Financial Assets-Held to Maturity
PFRS 7, 9 & 30 1 02 02 010 Investments in Treasury Bills-Local
1 02 02 011 Allowance for Impairment-Investments in Treasury Bills-Local
1 02 02 020 Investments in Treasury Bills-Foreign
1 02 02 021 Allowance for Impairment-Investments in Treasury Bills-Foreign
1 02 02 050 Investments in Bonds-Local
1 02 02 051 Allowance for Impairment-Investments in Bonds-Local
1 02 02 052 Premium on Investments in Bonds-Local
1 02 02 053 Discount on Investments in Bonds-Local
1 02 02 060 Investments in Bonds-Foreign
1 02 02 061 Allowance for Impairment-Investments in Bonds-Foreign
1 02 02 062 Premium on Investments in Bonds-Foreign
1 02 02 063 Discount on Investments in Bonds-Foreign
PAS 1, 27, 31, PPSAS 8 1 02 05 Investments in Joint Venture
36 1 02 05 010 Investments in Joint Venture
1 02 05 011 Allowance for Impairment-Investments in Joint Venture
PAS 1, 27, 28, 1 02 06 Investments in Associates/Affiliates
31, 36 1 02 06 010 Investments in Associates/Affiliates
1 02 06 011 Allowance for Impairment-Investments in Associates/Affiliates
PAS 1, 27, 28, PPSAS 1, 28, 1 02 07 Sinking Fund
31, 36 29 & 30 1 02 07 010 Sinking Fund
PAS 1, 32, 39, PPSAS 1, 28, 1 02 08 Financial Assets-Available For Sale Securities
IFRS 7, 9 29 & 30 1 02 08 010 Available For Sale Securities
1 02 08 011 Allowance for Impairment-Available for Sale Securities
4
Covering Standards
(PAS/PFRS/PPSAS)
PAS 1, 32, 39, PPSAS 1, 28, 1 02 09 Financial Assets-Domestic Investments

PFRS 7, PFRS 29 & 30 1 02 09 010 Domestic Securities
9 1 02 09 011 Allowance for Impairment-Domestic Securities
1 02 09 020 Domestic Securities Purchased Under Repurchase Agreement
1 02 09 021 Allowance for Impairment-Domestic Securities Purchased Under Repurchase Agreement
1 02 09 030 Due from Local Banks
1 02 09 031 Allowance for Impairment-Due from Local Banks
PAS 1, 27 1 02 10 Investments in Subsidiaries
1 02 10 010 Investments in Subsidiaries
1 02 10 011 Allowance for Impairment-Investments in Subsidiaries
1 02 11 Investments in Time Deposits
1 02 11 010 Investments in Time Deposits-Local Currency
1 02 11 020 Investments in Time Deposits-Foreign Currency
PAS 1, 27, 28, PPSAS 1, 28, 1 02 99 Other Investments
31, 36 29 & 30 1 02 99 010 Investments in Stocks
1 02 99 011 Allowance for Impairment-Investments in Stocks
1 02 99 020 Investments in Non-Marketable Securities
1 02 99 021 Allowance for Impairment-Investments in Non-Marketable Securities
1 02 99 990 Other Investments
1 02 99 991 Allowance for Impairment-Other Investments
PAS 1, 17, 23, PPSAS 28, 29 1 03 Receivables
32, 39, PFRS 9 & 30 1 03 01 Loans and Receivable Accounts
1 03 01 010 Accounts Receivable
1 03 01 011 Allowance for Impairment-Accounts Receivable
1 03 01 020 Notes Receivable
1 03 01 021 Allowance for Impairment-Notes Receivable
1 03 01 040 Loans Receivable-Local Government Units
1 03 01 041 Allowance for Impairment-Loans Receivable-Local Government Units
1 03 01 050 Interests Receivable
1 03 01 051 Allowance for Impairment-Interests Receivable
1 03 01 060 Dividends Receivable
1 03 01 061 Allowance for Impairment-Dividends Receivable
1 03 01 070 Loans Receivable-Other Government Corporations
1 03 01 071 Allowance for Impairment-Loans Receivable-Other Government Corporations
1 03 01 080 Subrogated Claims Receivable
1 03 01 081 Allowance for Impairment-Subrogated Claims Receivable
1 03 01 090 Contributions and Premiums Receivable
1 03 01 091 Allowance for Impairment-Contributions and Premiums Receivable
1 03 01 100 Mortgage Contracts Receivable
1 03 01 101 Allowance for Impairment-Mortgage Contracts Receivable
1 03 01 110 Loans to BSP
1 03 01 111 Allowance for Impairment-Loans to BSP
1 03 01 120 Inter-bank Loans Receivable
1 03 01 121 Allowance for Impairment-Inter-bank Loans Receivable
1 03 01 130 Deficiency Claims Receivable
1 03 01 131 Allowance for Impairment-Deficiency Claims Receivable
1 03 01 140 Due from Reinsurer
1 03 01 141 Allowance for Impairment-Due from Reinsurer
1 03 01 150 Accrued Service Fee Receivable
1 03 01 151 Allowance for Impairment-Accrued Service Fee Receivable
1 03 01 160 Sales Contract Receivable
1 03 01 161 Allowance for Impairment-Sales Contract Receivable
1 03 01 162 Sales Contract Receivable-Discount
1 03 01 170 Reinsurance Receivable
1 03 01 171 Allowance for Impairment-Reinsurance Receivable
1 03 01 180 Due from Head Office/Branches/Agencies Abroad
1 03 01 181 Allowance for Impairment-Due from Head Office/Branches/Agencies Abroad
1 03 01 190 Receivership and Liquidation Receivable
1 03 01 191 Allowance for Impairment-Receivership and Liquidation Receivable
1 03 01 990 Loans Receivable-Others
1 03 01 991 Allowance for Impairment-Loans Receivable-Others
PAS 17 PPSAS 13 1 03 02 Lease Receivable
1 03 02 010 Operating Lease Receivable
1 03 02 011 Allowance for Impairment-Operating Lease Receivable
1 03 02 020 Finance Lease Receivable
1 03 02 021 Allowance for Impairment-Finance Lease Receivable
5
Covering Standards
(PAS/PFRS/PPSAS)
PPSAS 1 1 03 03 Inter-Agency Receivables

1 03 03 010 Due from National Government Agencies
1 03 03 030 Due from Local Government Units
1 03 03 050 Due from Government Corporations
1 03 03 060 Due from Subsidiaries/Joint Ventures/Associates/Affiliates
1 03 03 070 Due from Parent Corporations
1 03 04 Intra-Agency Receivables
1 03 04 040 Due from Operating Units
1 03 04 050 Due from Other Funds
1 03 04 060 Due from Central Office/Home/Head Office
1 03 04 070 Due from Regional/Branch Offices
1 03 05 Other Receivables
1 03 05 010 Receivables-Disallowances/Charges
1 03 05 020 Due from Officers and Employees
1 03 05 030 Due from Non-Government Organizations/People's Organizations
1 03 05 040 Insurance Claims Receivable
1 03 05 041 Allowance for Impairment-Insurance Claims Receivable
1 03 05 050 Deficiency Judgment Receivable
1 03 05 051 Allowance for Impairment-Deficiency Judgment Receivable
1 03 05 060 Subscriptions Receivable
1 03 05 990 Other Receivables
1 03 05 991 Allowance for Impairment-Other Receivables
PAS 1, 2, 23 PPSAS 1, 12 1 04 Inventories
1 04 01 Inventory Held for Sale
1 04 01 010 Merchandise Inventory
1 04 01 011 Allowance for Impairment-Merchandise Inventory
1 04 02 Inventory Held for Distribution
1 04 02 010 Food Supplies for Distribution
1 04 02 011 Allowance for Impairment-Food Supplies for Distribution
1 04 02 020 Welfare Goods for Distribution
1 04 02 021 Allowance for Impairment-Welfare Goods for Distribution
1 04 02 030 Drugs and Medicines for Distribution
1 04 02 031 Allowance for Impairment-Drugs and Medicines for Distribution
1 04 02 040 Medical, Dental and Laboratory Supplies for Distribution
1 04 02 041 Allowance for Impairment-Medical, Dental and Laboratory Supplies for Distribution
1 04 02 050 Agricultural and Marine Supplies for Distribution
1 04 02 051 Allowance for Impairment-Agricultural and Marine Supplies for Distribution
1 04 02 060 Agricultural Produce for Distribution
1 04 02 061 Allowance for Impairment-Agricultural Produce for Distribution
1 04 02 070 Textbooks and Instructional Materials for Distribution
1 04 02 071 Allowance for Impairment-Textbooks and Instructional Materials for Distribution
1 04 02 080 Construction Materials for Distribution
1 04 02 081 Allowance for Impairment-Construction Materials for Distribution
1 04 02 090 Property and Equipment for Distribution
1 04 02 091 Allowance for Impairment-Property and Equipment for Distribution
1 04 02 990 Other Supplies and Materials for Distribution
1 04 02 991 Allowance for Impairment-Other Supplies and Materials for Distribution
1 04 03 Inventory Held for Manufacturing
1 04 03 010 Raw Materials Inventory
1 04 03 011 Allowance for Impairment-Raw Materials Inventory
1 04 03 020 Work-in-Process Inventory
1 04 03 021 Allowance for Impairment-Work-in-Process Inventory
1 04 03 030 Finished Goods Inventory
1 04 03 031 Allowance for Impairment-Finished Goods Inventory
1 04 04 Inventory Held for Consumption
1 04 04 010 Office Supplies Inventory
1 04 04 011 Allowance for Impairment-Office Supplies Inventory
1 04 04 020 Accountable Forms, Plates and Stickers Inventory
1 04 04 021 Allowance for Impairment-Accountable Forms, Plates and Stickers Inventory
1 04 04 030 Non-Accountable Forms Inventory
1 04 04 031 Allowance for Impairment-Non-Accountable Forms Inventory
1 04 04 040 Animal/Zoological Supplies Inventory
1 04 04 041 Allowance for Impairment-Animal/Zoological Supplies Inventory
1 04 04 050 Food Supplies Inventory
1 04 04 051 Allowance for Impairment-Food Supplies Inventory
1 04 04 060 Drugs and Medicines Inventory
6
Covering Standards
(PAS/PFRS/PPSAS)
1 04 04 061 Allowance for Impairment-Drugs and Medicines Inventory

1 04 04 070 Medical, Dental and Laboratory Supplies Inventory
1 04 04 071 Allowance for Impairment-Medical, Dental and Laboratory Supplies Inventory
1 04 04 080 Fuel, Oil and Lubricants Inventory
1 04 04 081 Allowance for Impairment-Fuel, Oil and Lubricants Inventory
1 04 04 090 Agricultural and Marine Supplies Inventory
1 04 04 091 Allowance for Impairment-Agricultural and Marine Supplies Inventory
1 04 04 100 Textbooks and Instructional Materials Inventory
1 04 04 101 Allowance for Impairment-Textbooks and Instructional Materials Inventory
1 04 04 110 Military, Police and Traffic Supplies Inventory
1 04 04 111 Allowance for Impairment-Military, Police and Traffic Supplies Inventory
1 04 04 120 Chemical and Filtering Supplies Inventory
1 04 04 121 Allowance for Impairment-Chemical and Filtering Supplies Inventory
1 04 04 130 Construction Materials Inventory
1 04 04 131 Allowance for Impairment-Construction Materials Inventory
1 04 04 140 Currency Inventory
1 04 04 141 Allowance for Impairment-Currency Inventory
1 04 04 150 Demonetized Coins for Melting
1 04 04 151 Allowance for Impairment-Demonetized Coins for Melting
1 04 04 160 Information Materials Inventory
1 04 04 161 Allowance for Impairment-Information Materials Inventory
1 04 04 170 Linens and Beddings
1 04 04 171 Allowance for Impairment-Linens and Beddings
1 04 04 180 Play/Bet Slips and Thermal Rolls Supplies Inventories
1 04 04 181 Allowance for Impairment-Play/Bet Slips and Thermal Rolls Supplies Inventories
1 04 04 990 Other Supplies and Materials Inventory
1 04 04 991 Allowance for Impairment-Other Supplies and Materials Inventory
1 04 05 Semi-Expendable Machinery and Equipment
1 04 05 010 Semi-Expendable Machinery
1 04 05 020 Semi-Expendable Office Equipment
1 04 05 030 Semi-Expendable Information and Communication Technology Equipment
1 04 05 040 Semi-Expendable Agricultural and Forestry Equipment
1 04 05 050. Semi-Expendable Marine and Fishery Equipment
1 04 05 060 Semi-Expendable Airport Equipment
1 04 05 070 Semi-Expendable Communication Equipment
1 04 05 080 Semi-Expendable Disaster Response and Rescue Equipment
1 04 05 090 Semi-Expendable Military, Police and Security Equipment
1 04 05 100 Semi-Expendable Medical Equipment
1 04 05 110 Semi-Expendable Printing Equipment
1 04 05 120 Semi-Expendable Sports Equipment
1 04 05 130 Semi-Expendable Technical and Scientific Equipment
1 04 05 140 Semi-Expendable Construction and Heavy Equipment
1 04 05 150 Semi-Expendable Gaming Equipment
1 04 05 190 Semi-Expendable Other Machinery and Equipment
1 04 06 Semi–Expendable Furniture, Fixtures and Books
1 04 06 010 Semi-Expendable Furniture and Fixtures
1 04 06 020 Semi-Expendable Books
PAS 1 1 04 07 Domestic Gold and Silver Inventory
1 04 07 010 Gold for Refining
1 04 07 020 Gold for Domestic Sales
1 04 07 030 Silver for Domestic Sales
1 04 07 040 Silver for Refining
1 04 08 Plant Inventory
1 04 08 010 Plant Inventory
PAS 1, 17, 23, PPSAS 1,16 1 05 Investment Property
36 & 40 1 05 01 Land and Buildings
1 05 01 010 Investment Property, Land
1 05 01 011 Accumulated Impairment Losses-Investment Property, Land
1 05 01 020 Investment Property, Buildings
1 05 01 021 Accumulated Depreciation-Investment Property, Buildings
1 05 01 022 Accumulated Impairment Losses-Investment Property, Buildings
1 05 99 Construction in Progress
1 05 99 010 Construction in Progress-Investment Property, Buildings
PAS 1, 16, 23, PPSAS 1, 17, 1 06 Property, Plant and Equipment
36 21 1 06 01 Land
1 06 01 010 Land
1 06 01 011 Accumulated Impairment Losses-Land
7
Covering Standards
(PAS/PFRS/PPSAS)
PAS 1, 16, 36 PPSAS 1, 17, 1 06 02 Land Improvements

21 1 06 02 010 Land Improvements, Aquaculture Structures
1 06 02 011 Accumulated Depreciation-Land Improvements, Aquaculture Structures
1 06 02 012 Accumulated Impairment Losses-Land Improvements, Aquaculture Structures
1 06 02 020 Land Improvements, Reforestation Projects
1 06 02 021 Accumulated Impairment Losses-Land Improvements, Reforestation Projects
1 06 02 990 Other Land Improvements
1 06 02 991 Accumulated Depreciation-Other Land Improvements
1 06 02 992 Accumulated Impairment Losses-Other Land Improvements
PAS 1, 16, 36 PPSAS 1, 17, 1 06 03 Infrastructure Assets
21 1 06 03 010 Road Networks
1 06 03 011 Accumulated Depreciation-Road Networks
1 06 03 012 Accumulated Impairment Losses-Road Networks
1 06 03 020 Flood Control Systems
1 06 03 021 Accumulated Depreciation-Flood Control Systems
1 06 03 022 Accumulated Impairment Losses-Flood Control Systems
1 06 03 030 Sewer Systems
1 06 03 031 Accumulated Depreciation-Sewer Systems
1 06 03 032 Accumulated Impairment Losses-Sewer Systems
1 06 03 040 Water Supply Systems
1 06 03 041 Accumulated Depreciation-Water Supply Systems
1 06 03 042 Accumulated Impairment Losses-Water Supply Systems
1 06 03 050 Power Supply Systems
1 06 03 051 Accumulated Depreciation-Power Supply Systems
1 06 03 052 Accumulated Impairment Losses-Power Supply Systems
1 06 03 060 Communication Networks
1 06 03 061 Accumulated Depreciation-Communication Networks
1 06 03 062 Accumulated Impairment Losses-Communication Networks
1 06 03 070 Seaport Systems
1 06 03 071 Accumulated Depreciation-Seaport Systems
1 06 03 072 Accumulated Impairment Losses-Seaport Systems
1 06 03 080 Airport Systems
1 06 03 081 Accumulated Depreciation-Airport Systems
1 06 03 082 Accumulated Impairment Losses-Airport Systems
1 06 03 090 Parks, Plazas and Monuments
1 06 03 091 Accumulated Depreciation-Parks, Plazas and Monuments
1 06 03 092 Accumulated Impairment Losses-Parks, Plazas and Monuments
1 06 03 100 Railway Systems
1 06 03 101 Accumulated Depreciation-Railway Systems
1 06 03 102 Accumulated Impairment Losses-Railway Systems
1 06 03 110 Plant-Utility Plant in Service (UPIS)
1 06 03 111 Accumulated Depreciation-Plant (UPIS)
1 06 03 112 Accumulated Impairment Losses-Plant (UPIS)
1 06 03 990 Other Infrastructure Assets
1 06 03 991 Accumulated Depreciation-Other Infrastructure Assets
1 06 03 992 Accumulated Impairment Losses-Other Infrastructure Assets
PAS 1, 16, 36 PPSAS 1, 17, 1 06 04 Buildings and Other Structures
21 1 06 04 010 Buildings
1 06 04 011 Accumulated Depreciation-Buildings
1 06 04 012 Accumulated Impairment Losses-Buildings
1 06 04 020 School Buildings
1 06 04 021 Accumulated Depreciation-School Buildings
1 06 04 022 Accumulated Impairment Losses-School Buildings
1 06 04 030 Hospitals and Health Centers
1 06 04 031 Accumulated Depreciation-Hospitals and Health Centers
1 06 04 032 Accumulated Impairment Losses-Hospitals and Health Centers
1 06 04 040 Markets
1 06 04 041 Accumulated Depreciation-Markets
1 06 04 042 Accumulated Impairment Losses-Markets
1 06 04 050 Slaughterhouses
1 06 04 051 Accumulated Depreciation-Slaughterhouses
1 06 04 052 Accumulated Impairment Losses-Slaughterhouses
1 06 04 060 Hostels and Dormitories
1 06 04 061 Accumulated Depreciation-Hostels and Dormitories
1 06 04 062 Accumulated Impairment Losses-Hostels and Dormitories
1 06 04 070 Water Plant, Structure and Improvements
1 06 04 071 Accumulated Depreciation-Water Plant, Structure and Improvements
8
Covering Standards
(PAS/PFRS/PPSAS)
1 06 04 072 Accumulated Impairment Losses-Water Plant Structure and Improvements

1 06 04 990 Other Structures
1 06 04 991 Accumulated Depreciation-Other Structures
1 06 04 992 Accumulated Impairment Losses-Other Structures
PAS 1, 16, 36 PPSAS 1, 17, 1 06 05 Machinery and Equipment
21 1 06 05 010 Machinery
1 06 05 011 Accumulated Depreciation-Machinery
1 06 05 012 Accumulated Impairment Losses-Machinery
1 06 05 020 Office Equipment
1 06 05 021 Accumulated Depreciation-Office Equipment
1 06 05 022 Accumulated Impairment Losses-Office Equipment
1 06 05 030 Information and Communication Technology Equipment
1 06 05 031 Accumulated Depreciation-Information and Communication Technology Equipment
1 06 05 032 Accumulated Impairment Losses-Information and Communication Technology Equipment
1 06 05 040 Agricultural and Forestry Equipment
1 06 05 041 Accumulated Depreciation-Agricultural and Forestry Equipment
1 06 05 042 Accumulated Impairment Losses-Agricultural and Forestry Equipment
1 06 05 050 Marine and Fishery Equipment
1 06 05 051 Accumulated Depreciation-Marine and Fishery Equipment
1 06 05 052 Accumulated Impairment Losses-Marine and Fishery Equipment
1 06 05 060 Airport Equipment
1 06 05 061 Accumulated Depreciation-Airport Equipment
1 06 05 062 Accumulated Impairment Losses-Airport Equipment
1 06 05 070 Communication Equipment
1 06 05 071 Accumulated Depreciation-Communication Equipment
1 06 05 072 Accumulated Impairment Losses-Communication Equipment
1 06 05 080 Construction and Heavy Equipment
1 06 05 081 Accumulated Depreciation-Construction and Heavy Equipment
1 06 05 082 Accumulated Impairment Losses-Construction and Heavy Equipment
1 06 05 090 Disaster Response and Rescue Equipment
1 06 05 091 Accumulated Depreciation-Disaster Response and Rescue Equipment
1 06 05 092 Accumulated Impairment Losses-Disaster Response and Rescue Equipment
1 06 05 100 Military, Police and Security Equipment
1 06 05 101 Accumulated Depreciation-Military, Police and Security Equipment
1 06 05 102 Accumulated Impairment Losses-Military, Police and Security Equipment
1 06 05 110 Medical Equipment
1 06 05 111 Accumulated Depreciation-Medical Equipment
1 06 05 112 Accumulated Impairment Losses-Medical Equipment
1 06 05 120 Printing Equipment
1 06 05 121 Accumulated Depreciation-Printing Equipment
1 06 05 122 Accumulated Impairment Losses-Printing Equipment
1 06 05 130 Sports Equipment
1 06 05 131 Accumulated Depreciation-Sports Equipment
1 06 05 132 Accumulated Impairment Losses-Sports Equipment
1 06 05 140 Technical and Scientific Equipment
1 06 05 141 Accumulated Depreciation-Technical and Scientific Equipment
1 06 05 142 Accumulated Impairment Losses-Technical and Scientific Equipment
1 06 05 150 Gaming Equipment
1 06 05 151 Accumulated Depreciation-Gaming Equipment
1 06 05 152 Accumulated Impairment Losses-Gaming Equipment
1 06 05 990 Other Equipment
1 06 05 991 Accumulated Depreciation-Other Equipment
1 06 05 992 Accumulated Impairment Losses-Other Equipment
PAS 1, 16, 36 PPSAS 1, 17, 1 06 06 Transportation Equipment
21 1 06 06 010 Motor Vehicles
1 06 06 011 Accumulated Depreciation-Motor Vehicles
1 06 06 012 Accumulated Impairment Losses-Motor Vehicles
1 06 06 020 Trains
1 06 06 021 Accumulated Depreciation-Trains
1 06 06 022 Accumulated Impairment Losses-Trains
1 06 06 030 Aircrafts and Aircrafts Ground Equipment
1 06 06 031 Accumulated Depreciation-Aircrafts and Aircrafts Ground Equipment
1 06 06 032 Accumulated Impairment Losses-Aircrafts and Aircrafts Ground Equipment
1 06 06 040 Watercrafts
1 06 06 041 Accumulated Depreciation-Watercrafts
1 06 06 042 Accumulated Impairment Losses-Watercrafts
1 06 06 990 Other Transportation Equipment
9
Covering Standards
(PAS/PFRS/PPSAS)
1 06 06 991 Accumulated Depreciation-Other Transportation Equipment

1 06 06 992 Accumulated Impairment Losses-Other Transportation Equipment
PAS 1, 16, 36 PPSAS 1, 17, 1 06 07 Furniture, Fixtures and Books
21 1 06 07 010 Furniture and Fixtures
1 06 07 011 Accumulated Depreciation-Furniture and Fixtures
1 06 07 012 Accumulated Impairment Losses-Furniture and Fixtures
1 06 07 020 Books
1 06 07 021 Accumulated Depreciation-Books
1 06 07 022 Accumulated Impairment Losses-Books
PAS 1, 17, 36 PPSAS 1, 13 1 06 08 Leased Assets
1 06 08 010 Leased Assets, Land
1 06 08 011 Accumulated Impairment Losses-Leased Assets, Land
1 06 08 020 Leased Assets, Buildings and Other Structures
1 06 08 021 Accumulated Depreciation-Leased Assets, Buildings and Other Structures
1 06 08 022 Accumulated Impairment Losses-Leased Assets, Buildings and Other Structures
1 06 08 030 Leased Assets, Machinery and Equipment
1 06 08 031 Accumulated Depreciation-Leased Assets, Machinery and Equipment
1 06 08 032 Accumulated Impairment Losses-Leased Assets, Machinery and Equipment
1 06 08 040 Leased Assets, Transportation Equipment
1 06 08 041 Accumulated Depreciation-Leased Assets, Transportation Equipment
1 06 08 042 Accumulated Impairment Losses-Leased Assets, Transportation Equipment
1 06 08 050 Leased Assets, Furniture and Fixtures
1 06 08 051 Accumulated Depreciation-Leased Assets, Furniture and Fixtures
1 06 08 052 Accumulated Impairment Losses-Leased Assets, Furniture and Fixtures
1 06 08 990 Other Leased Assets
1 06 08 991 Accumulated Depreciation-Other Leased Assets
1 06 08 992 Accumulated Impairment Losses-Other Leased Assets
PAS 1, 17, 36 PPSAS 1, 13 1 06 09 Leased Assets Improvements
1 06 09 010 Leased Assets Improvements, Land
1 06 09 011 Accumulated Depreciation-Leased Assets Improvements, Land
1 06 09 012 Accumulated Impairment Losses-Leased Assets Improvements, Land
1 06 09 020 Leased Assets Improvements, Buildings
1 06 09 021 Accumulated Depreciation-Leased Assets Improvements, Buildings
1 06 09 022 Accumulated Impairment Losses-Leased Assets Improvements, Buildings
1 06 09 990 Other Leased Assets Improvements
1 06 09 991 Accumulated Depreciation-Other Leased Assets Improvements
1 06 09 992 Accumulated Impairment Losses-Other Leased Assets Improvements
PAS 16, 36, 17 PPSAS 17 1 06 10 Heritage Assets
1 06 10 010 Historical Buildings
1 06 10 011 Accumulated Depreciation-Historical Buildings
1 06 10 012 Accumulated Impairment Losses-Historical Buildings
1 06 10 020 Works of Arts and Archeological Specimens
1 06 10 021 Accumulated Depreciation-Works of Arts and Archeological Specimens
1 06 10 022 Accumulated Impairment Losses-Works of Arts and Archeological Specimens
1 06 10 990 Other Heritage Assets
1 06 10 991 Accumulated Depreciation-Other Heritage Assets
1 06 10 992 Accumulated Impairment Losses-Other Heritage Assets
1 06 11 Service Concession-Tangible Assets
1 06 11 010 Service Concession-Road Networks
1 06 11 011 Accumulated Depreciation-Service Concession-Road Networks
1 06 11 012 Accumulated Impairment Losses-Service Concession-Road Networks
1 06 11 020 Service Concession-Flood Control Systems
1 06 11 021 Accumulated Depreciation-Service Concession-Flood Control Systems
1 06 11 022 Accumulated Impairment Losses-Service Concession-Flood Control Systems
1 06 11 030 Service Concession-Sewer Systems
1 06 11 031 Accumulated Depreciation-Service Concession-Sewer Systems
1 06 11 032 Accumulated Impairment Losses-Service Concession-Sewer Systems
1 06 11 040 Service Concession-Water Supply Systems
1 06 11 041 Accumulated Depreciation-Service Concession-Water Supply Systems
1 06 11 042 Accumulated Impairment Losses-Service Concession-Water Supply
1 06 11 050 Service Concession-Power Supply Systems
1 06 11 051 Accumulated Depreciation-Service Concession-Power Supply Systems
1 06 11 052 Accumulated Impairment Losses-Service Concession-Power Supply Systems
1 06 11 060 Service Concession-Communication Networks
1 06 11 061 Accumulated Depreciation-Service Concession Communication Networks
1 06 11 062 Accumulated Impairment Losses-Service Concession-Communication Networks
1 06 11 070 Service Concession-Seaport Systems
10
Covering Standards
(PAS/PFRS/PPSAS)
1 06 11 071 Accumulated Depreciation-Service Concession-Seaport Systems

1 06 11 072 Accumulated Impairment Losses-Service Concession-Seaport Systems
1 06 11 080 Service Concession-Airport Systems
1 06 11 081 Accumulated Depreciation-Service Concession-Airport Systems
1 06 11 082 Accumulated Impairment Losses-Service Concession-Airport Systems
1 06 11 090 Service Concession-Parks, Plazas and Monuments
1 06 11 091 Accumulated Depreciation-Service Concession Parks, Plazas and Monuments
1 06 11 092 Accumulated Impairment Losses-Service Concession-Parks, Plazas and Monuments
1 06 11 110 Service Concession-Railway Systems
1 06 11 111 Accumulated Depreciation-Railway Systems
1 06 11 112 Accumulated Impairment Losses-Railway Systems
1 06 11 120 Service Concession-Buildings and Other Structures
1 06 11 121 Accumulated Depreciation-Service Concession-Buildings and Other Structures
1 06 11 122 Accumulated Impairment Losses-Service Concession-Buildings and Other Structures
1 06 11 130 Service Concession-Machinery and Equipment
1 06 11 131 Accumulated Depreciation-Service Concession-Machinery and Equipment
1 06 11 132 Accumulated Impairment Losses-Service Concession-Machinery and Equipment
1 06 11 140 Service Concession-Transportation Equipment
1 06 11 141 Accumulated Depreciation-Service Concession-Transportation Equipment
1 06 11 142 Accumulated Impairment Losses-Service Concession-Transportation Equipment
1 06 11 150 Service Concession-Furniture, Fixtures and Books
1 06 11 151 Accumulated Depreciation-Service Concession-Furniture, Fixtures and Books
1 06 11 152 Accumulated Impairment Losses-Service Concession-Furniture, Fixtures and Books
1 06 11 160 Service Concession-Land
1 06 11 161 Accumulated Impairment Losses-Service Concession-Land
1 06 11 990 Other Service Concession Assets
1 06 11 991 Accumulated Depreciation-Other Service Concession Assets
1 06 11 992 Accumulated Impairment Losses-Other Service Concession Assets
PAS 1,16, 36, PPSAS 1 1 06 12 Exploration and Evaluation Assets
PFRS 6 1 06 12 010 Underground Tunnel
1 06 12 011 Accumulated Depreciation-Underground Tunnel
1 06 12 012 Accumulated Impairment Losses-Underground Tunnel
1 06 12 020 Mining Equipment
1 06 12 021 Accumulated Depreciation-Mining Equipment
1 06 12 022 Accumulated Impairment Losses-Mining Equipment
1 06 12 990 Other Exploration and Evaluation Assets
1 06 12 991 Accumulated Depreciation-Other Exploration and Evaluation Assets
1 06 12 992 Accumulated Impairment Losses-Other Exploration and Evaluation Assets
PAS 1, 41 PPSAS 1, 17 1 06 13 Bearer Trees, Plants and Crops
1 06 13 010 Bearer Trees, Plants and Crops
1 06 13 011 Accumulated Impairment Losses-Bearer Trees, Plants and Crops
PAS 1, 16, 36 PPSAS 1, 17 1 06 98 Other Property, Plant and Equipment
1 06 98 010 Work/Zoo Animals
1 06 98 011 Accumulated Depreciation-Work/Zoo Animals
1 06 98 012 Accumulated Impairment Losses-Work/Zoo Animals
1 06 98 990 Other Property, Plant and Equipment
1 06 98 991 Accumulated Depreciation-Other Property, Plant and Equipment
1 06 98 992 Accumulated Impairment Losses-Other Property, Plant and Equipment
PAS 1, 16, 36, PPSAS 1, 13, 1 06 99 Construction in Progress
17 17 1 06 99 010 Construction in Progress-Land Improvements
1 06 99 020 Construction in Progress-Infrastructure Assets
1 06 99 030 Construction in Progress-Buildings and Other Structures
1 06 99 040 Construction in Progress-Leased Assets
1 06 99 050 Construction in Progress-Leased Assets Improvements
1 06 99 060 Construction in Progress-Furniture and Fixtures
PAS 1, 16, 36 PPSAS 1, 27 1 07 Biological Assets
1 07 01 Bearer Biological Assets
1 07 01 010 Breeding Stocks
1 07 01 011 Accumulated Impairment Losses-Breeding Stocks
1 07 01 012 Accumulated Depreciation - Breeding Stocks
1 07 01 020 Livestock
1 07 01 021 Accumulated Impairment Losses-Livestock
1 07 01 022 Accumulated Depreciation - Livestock
1 07 01 030 Trees, Plants and Crops
1 07 01 031 Accumulated Impairment Losses-Trees, Plants and Crops
1 07 01 032 Accumulated Depreciation-Trees, Plants and Crops
1 07 01 040 Aquaculture
11
Covering Standards
(PAS/PFRS/PPSAS)
1 07 01 041 Accumulated Impairment Losses-Aquaculture

1 07 01 042 Accumulated Depreciation-Aquaculture
1 07 01 990 Other Bearer Biological Assets
1 07 01 991 Accumulated Impairment Losses-Other Bearer Biological Assets
1 07 01 992 Accumulated Depreciation-Other Bearer Biological Assets
1 07 02 Consumable Biological Assets
1 07 02 010 Livestock Held for Consumption/Sale/Distribution
1 07 02 011 Accumulated Impairment Losses-Livestock Held for Consumption/Sale/Distribution
1 07 02 020 Trees, Plants and Crops Held for Consumption/Sale/Distribution
1 07 02 021 Accumulated Impairment Losses-Trees, Plants and Crops Held for Consumption/Sale/Distribution
1 07 02 030 Agricultural Produce Held for Consumption/Sale/Distribution

1 07 02 031 Accumulated Impairment Losses-Agricultural Produce Held for Consumption/Sale/Distribution
1 07 02 040 Aquaculture Held for Consumption/Sale/Distribution

1 07 02 041 Accumulated Impairment Losses-Aquaculture Held for Consumption/Sale/Distribution
1 07 02 990 Other Consumable Biological Assets
1 07 02 991 Accumulated Impairment Losses-Other Consumable Biological Assets
PAS 1, 23, 36, PPSAS 1, 31 1 08 Intangible Assets
38 1 08 01 Intangible Assets
1 08 01 010 Patents/Copyrights
1 08 01 011 Accumulated Amortization-Patents/Copyrights
1 08 01 012 Accumulated Impairment Losses-Patents/Copyrights
1 08 01 020 Computer Software
1 08 01 021 Accumulated Amortization-Computer Software
1 08 01 022 Accumulated Impairment Losses-Computer Software
1 08 01 030 Websites
1 08 01 031 Accumulated Amortization-Websites
1 08 01 032 Accumulated Impairment Losses-Websites
1 08 01 040 Goodwill
1 08 01 041 Accumulated Impairment Losses-Goodwill
1 08 01 980 Other Intangible Assets
1 08 01 981 Accumulated Amortization-Other Intangible Assets
1 08 01 982 Accumulated Impairment Losses-Other Intangible Assets
1 08 02 Service Concession-Intangible Assets
1 08 02 010 Service Concession-Intangible Assets
1 08 02 011 Accumulated Amortization-Service Concession-Intangible Assets
1 08 02 012 Accumulated Impairment Losses-Service Concession-Intangible Assets
1 08 99 Development in Progress
1 08 99 010 Development in Progress-Patents/Copyrights
1 08 99 020 Development in Progress-Computer Software
1 08 99 030 Development in Progress-Websites
1 08 99 980 Development in Progress-Other Intangible Assets
PAS 1 1 09 International Reserves
1 09 01 International Reserves
1 09 01 010 Due from Foreign Banks-Demand Deposits
1 09 01 020 Foreign Currency on Hand
1 09 01 030 Foreign Currency in Transit
1 09 01 040 Foreign Investments
1 09 01 050 Gold with Foreign Financial Institutions
1 09 01 060 Accrued Interest Paid on Foreign Securities Purchased
1 09 01 070 Holdings of Special Drawing Rights
PAS 1 1 10 Non-International Reserves Foreign Assets
1 10 01 Foreign Exchange Receivables
1 10 01 010 Foreign Exchange Receivables
1 10 02 Due from Foreign Banks-Special Accounts
1 10 02 010 Due from Foreign Banks-Special Accounts
1 10 03 Investments in Other Foreign Exchange Denominated Securities
1 10 03 010 Investments in Other Foreign Exchange Denominated Securities
PFRS 5 1 11 Non-Current Assets Held for Sale
1 11 01 Non-Current Assets Held for Sale
1 11 01 010 Non-Current Assets Held for Sale
1 11 01 011 Accumulated Impairment Losses-Non-Current Assets Held for Sale
1 12 Deferred Tax Assets
1 12 01 Deferred Tax Assets
1 12 01 010 Deferred Tax Assets
12
Covering Standards
(PAS/PFRS/PPSAS)
PAS 1 PPSAS 1 1 99 Other Assets

1 99 01 Advances
1 99 01 010 Advances for Operating Expenses
1 99 01 020 Advances for Payroll
1 99 01 030 Advances to Special Disbursing Officer
1 99 01 040 Advances to Officers and Employees
PAS 1 PPSAS 1 1 99 02 Prepayments
1 99 02 010 Advances to Contractors
1 99 02 020 Prepaid Rent
1 99 02 030 Prepaid Registration
1 99 02 040 Prepaid Interest
1 99 02 050 Prepaid Insurance
1 99 02 060 Input Tax
1 99 02 070 Creditable Input Tax
1 99 02 080 Withholding Tax at Source
1 99 02 990 Other Prepayments
1 99 03 Deposits
1 99 03 010 Deposit on Letters of Credit
1 99 03 020 Guaranty Deposits
1 99 03 990 Other Deposits
1 99 04 Restricted Fund
1 99 04 010 Restricted Fund
PAS 1 PPSAS 1 1 99 99 Other Assets
1 99 99 020 Foreclosed Property/Assets
1 99 99 021 Accumulated Impairment Losses-Foreclosed Property/Assets
1 99 99 030 Forfeited Property/Assets
1 99 99 031 Accumulated Impairment Losses-Forfeited Property/Assets
1 99 99 040 Confiscated Property/Assets
1 99 99 041 Accumulated Impairment Losses-Confiscated Property/Assets
1 99 99 050 Abandoned/Surrendered Property/Assets
1 99 99 051 Accumulated Impairment Losses-Abandoned/Surrendered Property/Assets
1 99 99 060 Demonetized Commemorative Coins
1 99 99 070 Commemorative Notes and Coins
1 99 99 080 Deferred Charges/Losses
1 99 99 090 Items Under Litigation
1 99 99 990 Other Assets
1 99 99 991 Accumulated Impairment Losses-Other Assets
LIABILITIES
2 Liabilities
PAS 1, 32, 39, PPSAS 1, 28, 2 01 Financial Liabilities
PFRS 7, 9 29, 30 2 01 01 Payables
2 01 01 010 Accounts Payable
2 01 01 020 Due to Officers and Employees
2 01 01 040 Notes Payable
2 01 01 050 Interest Payable
2 01 01 060 Operating Lease Payable
2 01 01 070 Finance Lease Payable
2 01 01 080 Awards and Rewards Payable
2 01 01 090 Service Concession Arrangements Payable
2 01 01 100 Accrued Benefits Payable
2 01 01 110 Insurance/Reinsurance Premium Payable
PAS 1, 32, 39, PPSAS 1, 28, 2 01 02 Bills/Bonds/Loans Payable
PFRS 7, 9 29, 30 2 01 02 010 Treasury Bills Payable
2 01 02 020 Bonds Payable-Domestic
2 01 02 021 Discount on Bonds Payable-Domestic
2 01 02 022 Premium on Bonds Payable-Domestic
2 01 02 023 Bond Issue Cost-Domestic
2 01 02 030 Bonds Payable-Foreign
2 01 02 031 Discount on Bonds Payable-Foreign
2 01 02 032 Premium on Bonds Payable-Foreign
2 01 02 033 Bond Issue Cost-Foreign
2 01 02 040 Loans Payable-Domestic
2 01 02 050 Loans Payable-Foreign
2 01 02 060 Bills Payable-Bangko Sentral ng Pilipinas
13
Covering Standards
(PAS/PFRS/PPSAS)
2 01 02 070 Redeemable Preferred Shares

2 01 02 080 Term Loan Facility
2 01 02 990 Other Bills/Bonds/Loans Payable
2 01 03 Tax Refunds Payable
2 01 03 010 Tax Refunds Payable
PAS 1, 32, 39, PPSAS 1, 28, 2 01 04 Financial Liabilities Designated at Fair Value through Surplus/Profit or Deficit/Loss
PFRS 7, 9 29, 30 2 01 04 010 Financial Liability Designated at Fair Value through Surplus/Profit or Deficit/Loss
2 01 05 Financial Liabilities Held for Trading
2 01 05 010 Derivatives Financial Liability with Negative Fair Value Held for Trading
2 01 05 020 Liability for Short Position
2L b01
l 06
A ociated with Transferred Assets
2 01 06 010 Financial Liabilities Associated with Transferred Assets
2 01 07 Domestic Securities Sold Under Repurchase Agreements
2 01 07 010 Domestic Securities Sold Under Repurchase Agreements
2 01 08 Unsecured Subordinated Debt
2 01 08 010 Unsecured Subordinated Debt
2 01 08 011 Unamortized Unsecured Subordinated Debt Discount
2 01 08 012 Unamortized Unsecured Subordinated Debt Premium
PAS 1, 32, 39, PPSAS 1, 28, 2 01 99 Other Financial Liabilities
PFRS 7, 9 29, 30
2 01 99 990 Other Financial Liabilities
PAS 1, PAS 12 PPSAS 1, 23 2 02 Inter-Agency Payables
2 02 01 Inter-Agency Payables
2 02 01 010 Due to BIR
2 02 01 020 Due to GSIS
2 02 01 030 Due to Pag-IBIG
2 02 01 040 Due to PhilHealth
2 02 01 050 Due to NGAs
2 02 01 060 Due to Government Corporations
2 02 01 070 Due to LGUs
2 02 01 080 Due to Subsidiaries/Joint Venture/Associates/Affiliates
2 02 01 090 Due to Treasurer of the Philippines
2 02 01 100 Due to Parent Corporations
2 02 01 110 Due to SSS
2 02 01 120 Value Added Tax Payable
2 02 01 130 Income Tax Payable
2 02 02 Due to BSP/Other Banks/Others
2 02 02 010 Due to BSP
2 02 02 020 Due to Resident Banks-Clearing Accounts
2 02 02 030 Due to Non-Resident Banks-Working Capital
2 02 02 040 Due to Foreign Currency Deposit Unit /Regional Banking Units
2 02 02 050 Interbank Loans Payable
2 02 02 060 Due to International Monetary Fund
2 02 02 070 Allocation of Special Drawing Rights
2 02 02 080 Due to Philippine Deposit Insurance Corporation
2 02 02 090 Due to Philippine Crop Insurance Corporation
2 02 02 100 Due to Head Office/Branches/Agencies Abroad
2 02 02 990 Others
PAS 1, 18 PPSAS 1, 23 2 03 Intra-Agency Payables
2 03 01 Intra-Agency Payables
2 03 01 040 Due to Operating Units
2 03 01 050 Due to Other Funds
2 03 01 060 Due to Central/Home/Head Office
2 03 01 070 Due to Regional/Branch Offices
PAS 1, 18 PPSAS 1, 23 2 04 Trust Liabilities
2 04 01 Trust Liabilities
2 04 01 010 Trust Liabilities
2 04 01 020 Trust Liabilities-Disaster Risk Reduction and Management Fund
2 04 01 030 Bail Bonds Payable
2 04 01 040 Guaranty/Security Deposits Payable
2 04 01 050 Customers' Deposits Payable
2 04 01 060 Margin Deposits
2 04 01 070 Deposit from Prospective Investors
2 05 Deferred Credits/Unearned Income
PAS 1, 37 PPSAS 1, 19 2 05 01 Deferred Credits
2 05 01 010 Deferred Finance Lease Revenue
14
Covering Standards
(PAS/PFRS/PPSAS)
2 05 01 020 Deferred Service Concession Revenue

2 05 01 030 Output Tax
2 05 01 990 Other Deferred Credits
2 05 02 Unearned Revenue/Income
2 05 02 010 Unearned Revenue/Income-Investment Property
2 05 02 020 Unearned Tax Subsidy
2 05 02 030 Commitment Contribution
2 05 02 040 Reserve for Unearned Premiums
2 05 02 990 Other Unearned Revenue/Income
PAS 1, 26, 19, PPSAS 1, 19 2 06 Provisions
37 2 06 01 Provisions
2 06 01 010 Pension Benefits Payable
2 06 01 020 Leave Benefits Payable
2 06 01 030 Retirement Gratuity Payable
2 06 01 040 Provision for Product Warranty
2 06 01 050 Provision for Environmental Damages
2 06 01 990 Other Provisions
2 07 Currency Issued
2 07 01 Currency Issued
2 07 01 010 Currency Issued
2 08 Deposit Liabilities
PAS 1 PPAS 1 2 08 01 Deposit Liabilities
2 08 01 010 Foreign Currency Deposits
2 08 01 020 International Financial Institutions
2 08 01 030 Demand Deposit-Reserves
2 08 01 040 Demand Deposit
2 08 01 050 Demand Deposit-Others
2 08 01 060 Savings Deposit
2 08 01 070 Fixed-term Deposit
2 08 01 080 Withdrawal in Progress
2 08 01 090 Negotiable Order of Withdrawal Accounts
2 08 01 100 Time Certificates of Deposit
2 08 01 110 Long-term Negotiable Certificates of Deposit
2 08 01 120 Special Deposit Account
2 09 Deferred Tax Liabilities
2 09 01 Deferred Tax Liabilities
2 09 01 010 Deferred Tax Liabilities
PAS 1 PPSAS 1 2 99 Other Payables
2 99 99 Other Payables
2 99 99 010 Special Time Deposit
2 99 99 020 Treasurer/Cashier/Manager's Check
2 99 99 030 Payment Order Payable
2 99 99 040 Undistributed Collections
2 99 99 050 Unclaimed Balances
2 99 99 060 Loans by Regional Banking Units from Foreign Currency Deposit Unit/Expanded Foreign Currency
Deposit Unit
2 99 99 070 Liability for Letters of Credit
2 99 99 080 Outstanding Acceptances Executed by or for Account of the Bank
2 99 99 090 Dividends Payable
2 99 99 100 Servicing Liabilities
2 99 99 110 Insured Deposit Claims Payable
2 99 99 120 Return Premiums Payable
2 99 99 130 No Claim Bonus Payable
2 99 99 990 Other Payables
EQUITY
3 Equity
PAS 1, 8 PPSAS 1 3 01 Government Equity
3 01 01 Government Equity
3 01 01 010 Accumulated Surplus/(Deficit)
3 01 01 020 Government Equity
3 01 01 030 Contributed Capital
3 02 Revaluation Surplus
3 02 01 Revaluation Surplus
PAS 1, 16, 36 PPSAS 1 3 02 01 010 Revaluation Surplus
15
Covering Standards
(PAS/PFRS/PPSAS)
3 03 Intermediate Accounts
3 03 01 Intermediate Accounts
3 03 01 020 Revenue/Income and Expense Summary
PAS 1, 31, PPSAS 1, 8 3 04 Equity in Joint Venture
PFRS 11 3 04 01 Equity in Joint Venture
3 04 01 010 Equity in Joint Venture
PAS 1, 28, 31 PPSAS 1 3 06 Equity in Associates/Affiliates
3 06 01 Equity in Associates/Affiliates
3 06 01 010 Equity in Associates/Affiliates
3 07 Retained Earnings/(Deficit)
3 07 01 Retained Earnings/(Deficit)
3 07 01 010 Retained Earnings/(Deficit)
PAS 1, 8, 33 PPSAS 1 3 08 Stockholders' Equity
3 08 01 Stockholders' Equity
3 08 01 010 Share Capital
3 08 01 020 Share Premium
3 08 01 030 Subscribed Share Capital
3 08 01 040 Treasury Shares
3 08 01 050 Stock Dividend Distributable
3 08 01 060 Equity Component of Compound Financial Instruments
3 08 01 070 Minority Interests in Subsidiaries
3 08 01 990 Other Equity Instruments
3 09 Cumulative Translation Adjustment
3 09 01 Cumulative Translation Adjustment
PAS 1, 21 PPSAS 1 3 09 01 010 Cumulative Translation Adjustment
3 10 Cumulative Changes in Fair Value
PAS 1, 36, 32, PPSAS 1, 28, 3 10 01 Cumulative Changes in Fair Value
39, PFRS 7, 9 29, 30 3 10 01 010 Cumulative Changes in Fair Value of Investments
REVENUES AND EXPENSES
4 Revenue
PAS 1,18 PPSAS 1, 23 4 01 Tax Revenue
4 01 01 Tax Revenue-Individual and Corporation
4 01 01 030 Travel Tax
4 02 Service and Business Income
PAS 1, 18 PPSAS 1, 9 4 02 01 Service Income
4 02 01 010 Permit Fees
4 02 01 020 Registration Fees
4 02 01 030 Registration Plates, Tags and Stickers Fees
4 02 01 040 Clearance and Certification Fees
4 02 01 050 Franchising Fees
4 02 01 060 Licensing Fees
4 02 01 070 Supervision and Regulation Enforcement Fees
4 02 01 080 Spectrum Usage Fees
4 02 01 090 Legal Fees
4 02 01 100 Inspection Fees
4 02 01 110 Verification and Authentication Fees
4 02 01 120 Passport, Visa and Application Fees
4 02 01 130 Processing Fees
4 02 01 140 Fines and Penalties-Service Income
4 02 01 150 Mail Services Revenue
4 02 01 151 Discounts on Mailing Services
4 02 01 160 Postal Payment Service Revenue
4 02 01 170 Fees and Commissions Income
4 02 01 180 Consultancy Fees
4 02 01 190 Participation Fees
4 02 01 200 Research Fees
4 02 01 210 Accreditation Fees
4 02 01 220 Cancellation Fees
4 02 01 990 Other Service Income
PAS 1, 18 PPSAS 1, 9 4 02 02 Business Income
4 02 02 010 School Fees
4 02 02 020 Affiliation Fees
4 02 02 030 Examination Fees
4 02 02 040 Seminar/Training Fees
16
Covering Standards
(PAS/PFRS/PPSAS)
4 02 02 050 Rent/Lease Income

4 02 02 060 Communication Network Fees
4 02 02 070 Transportation System Fees
4 02 02 080 Road Network Fees
4 02 02 090 Waterworks System Fees
4 02 02 100 Power Supply System Fees
4 02 02 110 Seaport System Fees
4 02 02 120 Landing and Parking Fees
4 02 02 130 Income from Hostels/Dormitories and Other Like Facilities
4 02 02 140 Slaughterhouse Operation
4 02 02 150 Income from Printing and Publication
4 02 02 160 Sales Revenue
4 02 02 161 Sales Discounts
4 02 02 170 Hospital Fees
4 02 02 171 Hospital Discounts, Allowances and Free Services
4 02 02 180 Guarantee Income
4 02 02 190 Fidelity Insurance Income
4 02 02 200 Dividend Income
4 02 02 210 Interest Income
4 02 02 220 Share in the Profit//Revenue of Joint Venture
4 02 02 230 Fines and Penalties-Business Income
4 02 02 250 Insurance/Reinsurance Premium
4 02 02 251 Insurance/Reinsurance Premium Discount
4 02 02 252 Returns and Cancellations of Insurance/Reinsurance Premiums
4 02 02 253 Insurance/Reinsurance Premium Reserves
4 02 02 260 Income from Acquired/Foreclosed Assets
4 02 02 270 Members' Contribution
4 02 02 280 Share in the Profit/Revenue of Associates/Affiliates
4 02 02 290 Demurrage Revenue
4 02 02 300 Income from Gaming Operations
4 02 02 310 Unclaimed Prizes
4 02 02 320 Royalty Fees
4 02 02 330 Assessment Income
4 02 02 340 Management Fees
4 02 02 350 Visitorial Fees
4 02 02 360 Admission Fees
4 02 02 370 Annual Fees
4 02 02 990 Other Business Income
PPSAS 23 4 03 Assistance and Subsidy
4 03 01 Assistance and Subsidy
4 03 01 010 Subsidy from National Government
4 03 01 020 Subsidy from Other National Government Agencies
4 03 01 030 Assistance from Local Government Units
4 03 01 040 Assistance from Government Corporations
4 03 01 050 Subsidy from Other Funds
4 03 01 060 Subsidy from Central Office
4 03 01 070 Subsidy from Regional Office/Staff Bureau
PAS 1,18 PPSAS 1, 23 4 04 Shares, Grants and Donations
4 04 01 Shares
4 04 01 010 Share from National Wealth
4 04 01 020 Share from PAGCOR/PCSO
4 04 01 030 Share from Earnings of Government Corporations
4 04 02 Grants and Donations
4 04 02 010 Income from Grants and Donations in Cash
4 04 02 020 Income from Grants and Donations in Kind
4 05 Gains
PAS 1, 21 PPSAS 1, 9, 4 4 05 01 Gains
4 05 01 010 Gain on Foreign Exchange (FOREX)
4 05 01 020 Gain on Sale/Redemption/Transfer of Investments
4 05 01 030 Gain on Sale of Investment Property
4 05 01 040 Gain on Sale of Property, Plant and Equipment
4 05 01 050 Gain on Initial Recognition of Biological Assets
4 05 01 060 Gain on Sale of Biological Assets
PAS 18 4 05 01 070 Gain from Changes in Fair Value Less Cost to Sell of Biological Assets Due to Physical Change
4 05 01 080 Gain from Changes in Fair Value Less Cost to Sell of Biological Assets Due to Price Change
4 05 01 090 Gain on Sale of Agricultural Produce
4 05 01 100 Gain on Sale of Intangible Assets
17
Covering Standards
(PAS/PFRS/PPSAS)
4 05 01 110 Gain from Changes in Fair Value of Financial Instruments

4 05 01 120 Gain on Initial Recognition of Agricultural Produce
4 05 01 130 Gain on Sale/Redemption/Transfer of Financial Liabilities
4 05 01 140 Gain from Fair Value Adjustment in Hedge Accounting
4 05 01 150 Gain on Securitization
4 05 01 160 Gain from Changes in Fair Value of Investment Property
4 05 01 990 Other Gains
4 06 Other Non-Operating Income
PPSAS 9 4 06 01 Sale of Assets
4 06 01 010 Sale of Garnished/Confiscated/Abandoned/Seized Goods and Property
4 06 01 020 Sale of Unserviceable Property
4 06 02 Reversal of Impairment Loss
4 06 02 010 Reversal of Impairment Loss
4 06 03 Miscellaneous Income
4 06 03 010 Proceeds from Insurance/Indemnities
4 06 03 990 Miscellaneous Income
5 Expenses
PAS 1, 19 PPSAS 1 5 01 Personnel Services
5 01 01 Salaries and Wages
5 01 01 010 Salaries and Wages-Regular
5 01 01 020 Salaries and Wages-Casual/Contractual
5 01 02 Other Compensation
5 01 02 010 Personnel Economic Relief Allowance (PERA)
5 01 02 020 Representation Allowance (RA)
5 01 02 030 Transportation Allowance (TA)
5 01 02 040 Clothing/Uniform Allowance
5 01 02 050 Subsistence Allowance
5 01 02 060 Laundry Allowance
5 01 02 070 Quarters Allowance
5 01 02 080 Productivity Incentive Allowance
5 01 02 090 Overseas Allowance
5 01 02 100 Honoraria
5 01 02 110 Hazard Pay
5 01 02 120 Longevity Pay
5 01 02 130 Overtime and Night Pay
5 01 02 140 Year End Bonus
5 01 02 150 Cash Gift
5 01 02 990 Other Bonuses and Allowances
5 01 03 Personnel Benefit Contributions
5 01 03 010 Retirement and Life Insurance Premiums
5 01 03 020 Pag-IBIG Contributions
5 01 03 030 PhilHealth Contributions
5 01 03 040 Employees Compensation Insurance Premiums
5 01 03 050 Provident/Welfare Fund Contributions
5 01 04 Other Personnel Benefits
5 01 04 010 Pension Benefits
5 01 04 020 Retirement Gratuity
5 01 04 030 Terminal Leave Benefits
5 01 04 990 Other Personnel Benefits
5 02 Maintenance and Other Operating Expenses
PAS 1 PPSAS 1 5 02 01 Traveling Expenses
5 02 01 010 Traveling Expenses-Local
5 02 01 020 Traveling Expenses-Foreign
PAS 1 PPSAS 1 5 02 02 Training and Scholarship Expenses
5 02 02 010 Training Expenses
5 02 02 020 Scholarship Grants/Expenses
PAS 1 PPSAS 1 5 02 03 Supplies and Materials Expenses
5 02 03 010 Office Supplies Expenses
5 02 03 020 Accountable Forms Expenses
5 02 03 030 Non-Accountable Forms Expenses
5 02 03 040 Animal/Zoological Supplies Expenses
5 02 03 050 Food Supplies Expenses
5 02 03 060 Welfare Goods Expenses
5 02 03 070 Drugs and Medicines Expenses
5 02 03 080 Medical, Dental and Laboratory Supplies Expenses
5 02 03 090 Fuel, Oil and Lubricants Expenses
5 02 03 100 Agricultural and Marine Supplies Expenses
18
Covering Standards
(PAS/PFRS/PPSAS)
5 02 03 110 Textbooks and Instructional Materials Expenses

5 02 03 120 Military, Police and Traffic Supplies Expenses
5 02 03 130 Chemical and Filtering Supplies Expenses
5 02 03 140 Linens and Beddings Expenses
5 02 03 210 Semi-Expendable Machinery and Equipment Expenses
5 02 03 220 Semi-Expendable Furniture, Fixtures and Books Expenses
5 02 03 990 Other Supplies and Materials Expenses
PAS 1 PPSAS 1 5 02 04 Utility Expenses
5 02 04 010 Water Expenses
5 02 04 020 Electricity Expenses
5 02 04 030 Gas/Heating Expenses
5 02 04 990 Other Utility Expenses
PAS 1 PPSAS 1 5 02 05 Communication Expenses
5 02 05 010 Postage and Courier Services
5 02 05 020 Telephone Expenses
5 02 05 030 Internet Subscription Expenses
5 02 05 040 Cable, Satellite, Telegraph and Radio Expenses
5 02 06 Awards/Rewards, Prizes and Indemnities
5 02 06 010 Awards/Rewards Expenses
5 02 06 020 Prizes
5 02 06 030 Indemnities
PAS 1 PPSAS 1, 31 5 02 07 Survey, Research, Exploration and Development Expenses
5 02 07 010 Survey Expenses
5 02 07 020 Research, Exploration and Development Expenses
PAS 1, 16 PPSAS 1, 17 5 02 08 Demolition/Relocation and Desilting/Drilling/Dredging Expenses
5 02 08 010 Demolition and Relocation Expenses
5 02 08 020 Desilting, Drilling and Dredging Expenses
PAS 1, 16 PPSAS 1, 17 5 02 09 Generation, Transmission and Distribution Expenses
5 02 09 010 Generation, Transmission and Distribution Expenses
PAS 1 PPSAS 1 5 02 10 Confidential, Intelligence and Extraordinary Expenses
5 02 10 010 Confidential Expenses
5 02 10 020 Intelligence Expenses
5 02 10 030 Extraordinary and Miscellaneous Expenses
PAS 1 PPSAS 1 5 02 11 Professional Services
5 02 11 010 Legal Services
5 02 11 020 Auditing Services
5 02 11 030 Consultancy Services
5 02 11 990 Other Professional Services
PAS 1 PPSAS 1 5 02 12 General Services
5 02 12 010 Environment/Sanitary Services
5 02 12 020 Janitorial Services
5 02 12 030 Security Services
5 02 12 990 Other General Services
PAS 1, 36, 40 PPSAS 16, 17 5 02 13 Repairs and Maintenance
5 02 13 010 Repairs and Maintenance-Investment Property
5 02 13 020 Repairs and Maintenance-Land Improvements
5 02 13 030 Repairs and Maintenance-Infrastructure Assets
5 02 13 040 Repairs and Maintenance-Buildings and Other Structures
5 02 13 050 Repairs and Maintenance-Machinery and Equipment
5 02 13 060 Repairs and Maintenance-Transportation Equipment
5 02 13 070 Repairs and Maintenance-Furniture and Fixtures
5 02 13 080 Repairs and Maintenance-Leased Assets
5 02 13 090 Repairs and Maintenance-Leased Assets Improvements
5 02 13 100 Restoration and Maintenance-Heritage Assets
5 02 13 110 Repairs and Maintenance-Service Concession Assets
5 02 13 120 Repairs and Maintenance-Exploration and Evaluation Assets
5 02 13 210 Repairs and Maintenance-Semi-Expendable Machinery and Equipment
5 02 13 220 Repairs and Maintenance-Semi-Expendable Furniture, Fixtures and Books
5 02 13 990 Repairs and Maintenance-Other Property, Plant and Equipment
5 02 14 Financial Assistance/Subsidy
5 02 14 020 Financial Assistance to NGAs
5 02 14 030 Financial Assistance to Local Government Units
5 02 14 050 Financial Assistance to NGOs/POs
5 02 14 070 Subsidy to Regional Offices/Staff Bureaus
5 02 14 080 Subsidy to Operating Units
5 02 14 090 Subsidy to Other Funds
5 02 14 100 Financial Assistance to Government Corporations
19
Covering Standards
(PAS/PFRS/PPSAS)
5 02 14 110 Contribution to AFP Modernization

5 02 14 990 Financial Assistance/Subsidy-Others
PAS 1, 12 PPSAS 1 5 02 15 Taxes, Insurance Premiums and Other Fees
5 02 15 010 Taxes, Duties and Licenses
5 02 15 020 Fidelity Bond Premiums
5 02 15 030 Insurance Expenses
5 02 15 040 Income Tax Expenses
5 02 16 Labor and Wages
5 02 16 010 Labor and Wages
5 02 17 Members' Benefits
5 02 17 010 Members' Benefits
5 02 99 Other Maintenance and Operating Expenses
5 02 99 010 Advertising, Promotional and Marketing Expenses
5 02 99 020 Printing and Publication Expenses
5 02 99 030 Representation Expenses
5 02 99 040 Transportation and Delivery Expenses
5 02 99 050 Rent/Lease Expenses
5 02 99 060 Membership Dues and Contributions to Organizations
5 02 99 070 Subscription Expenses
5 02 99 080 Donations
5 02 99 090 Litigation/Acquired Assets Expenses
5 02 99 110 International Mail Exchange Expenses
5 02 99 120 Directors and Committee Members' Fees
5 02 99 130 Lottery Draws Expenses
5 02 99 140 Documentary Stamps Expenses
5 02 99 150 Fees and Commission Expenses
5 02 99 160 Dividend Expenses
5 02 99 170 Underwriting Expenses
5 02 99 180 Major Events and Conventions Expenses
5 02 99 190 Crop/Non-Crop Insurance Benefits
5 02 99 200 Deposit Claims Pay-out Expenses
5 02 99 210 Loss Recoveries Ceded
5 02 99 220 Loss Adjustment Expenses
5 02 99 990 Other Maintenance and Operating Expenses
5 03 Financial Expenses
5 03 01 Financial Expenses
5 03 01 010 Management Supervision/Trusteeship Fees
5 03 01 020 Interest Expenses
5 03 01 030 Guarantee Fees
5 03 01 040 Bank Charges
5 03 01 050 Commitment Fees
5 03 01 990 Other Financial Charges
5 04 Direct Costs
5 04 01 Cost of Goods Manufactured
5 04 01 010 Direct Labor
5 04 01 020 Manufacturing Overhead
5 04 01 030 Direct Materials
5 04 02 Cost of Sales
5 04 02 010 Cost of Sales
5 05 Non-Cash Expenses
PAS 1, 16, 41, PPSAS 1, 17 5 05 01 Depreciation
PFRS 6 5 05 01 010 Depreciation-Investment Property
5 05 01 020 Depreciation-Land Improvements
5 05 01 030 Depreciation-Infrastructure Assets
5 05 01 040 Depreciation-Buildings and Other Structures
5 05 01 050 Depreciation-Machinery and Equipment
5 05 01 060 Depreciation-Transportation Equipment
5 05 01 070 Depreciation-Furniture, Fixtures and Books
5 05 01 080 Depreciation-Leased Assets
5 05 01 090 Depreciation-Leased Assets Improvements
5 05 01 100 Depreciation-Heritage Assets
5 05 01 110 Depreciation-Service Concession Assets
5 05 01 120 Depreciation-Exploration and Evaluation Assets
5 05 01 130 Depreciation-Biological Assets
5 05 01 990 Depreciation-Other Property, Plant and Equipment
20
Covering Standards
(PAS/PFRS/PPSAS)
5 05 02 Amortization
PAS 1, 38 5 05 02 010 Amortization-Intangible Assets
PPSAS 1, 31
5 05 02 020 Amortization-Service Concession-Intangible Assets
PAS 36 PPSAS 16, 21 5 05 03 Impairment Loss
5 05 03 010 Impairment Loss-Financial Assets Held to Maturity
5 05 03 020 Impairment Loss-Loans and Receivables
5 05 03 030 Impairment Loss-Lease Receivables
5 05 03 040 Impairment Loss-Investments in Government Corporations
5 05 03 050 Impairment Loss-Investments in Joint Venture
5 05 03 060 Impairment Loss-Other Receivables
5 05 03 070 Impairment Loss-Inventories
5 05 03 080 Impairment Loss-Investment Property
5 05 03 090 Impairment Loss-Property, Plant and Equipment
5 05 03 100 Impairment Loss-Biological Assets
5 05 03 110 Impairment Loss-Intangible Assets
5 05 03 120 Impairment Loss-Investments in Associates/Affiliates
5 05 03 130 Impairment Loss-Domestic Investments
5 05 03 140 Impairment Loss-Investment in Stocks
5 05 03 150 Impairment Loss-Investments in Subsidiaries
5 05 03 160 Impairment Loss-Non-Current Assets Held for Sale
5 05 03 170 Impairment Loss-Service Concession-Intangible Assets
5 05 03 180 Impairment Loss-Other Investments
5 05 03 990 Impairment Loss-Other Assets
5 05 04 Losses
PAS 21 PPSAS 4 5 05 04 010 Loss on Foreign Exchange (FOREX)
5 05 04 020 Loss on Sale/Redemption/Transfer of Investments
PAS 18 PPSAS 9 5 05 04 030 Loss on Sale of Investment Property
PAS 36 PPSAS 21 5 05 04 040 Loss on Sale of Propery, Plant and Equipment
PAS 41 PPSAS 27 5 05 04 050 Loss on Sale of Biological Assets
PAS 41 PPSAS 27 5 05 04 060 Loss on Sale of Agricultural Produce
PAS 38 PPSAS 31 5 05 04 070 Loss on Sale of Intangible Assets
5 05 04 080 Loss on Sale of Assets
5 05 04 090 Loss of Assets
PAS 41 PPSAS 27 5 05 04 110 Loss on Initial Recognition of Biological Assets
PPSAS 28, 29, 5 05 04 120 Loss from Changes in Fair Value of Financial Instruments
PAS 39, IFRS 9 30
PAS 41 PPSAS 27 5 05 04 130 Loss from Changes in Fair Value Less Cost to Sell of Biological Assets Due to Physical Change
PAS 41 27 ,
PPSAS 28, 5 05 04 140 Loss from Changes in Fair Value Less Cost to Sell of Biological Assets Due to Price Change
PAS 39, IFRS 9 30 5 05 04 150 Loss on Sale/Redemption/Transfer of Financial Liabilities
5 05 04 160 Loss on Securitization
PAS 39, IFRS 9 30 5 05 04 170 Loss from Fair Value Adjustment in Hedge Accounting
PAS 40 PPSAS 16 5 05 04 180 Loss from Changes in Fair Value of Investment Property
5 05 04 190 Loss on Guaranty
PFRS 11 PPSAS 8 5 05 04 200 Share in the Loss of Joint Venture
PAS 7 5 05 04 210 Share in the Loss of Associates/Affiliates
5 05 04 220 Other Losses
5 05 05 Discounts and Rebates
5 05 05 010 Other Discounts
5 05 05 020 Rebates
21
C. DESCRIPTION OF ACCOUNTS
1 ASSETS
1 Assets
01 Cash and Cash Equivalents

01 Cash on Hand
Account Title Cash-Collecting Officers

Account Number 10101010
Normal Balance Debit
Description This account is used to recognize the amount of collections with
the Collecting Officers, Cashiers, and Postmasters for remittance
to the Treasurer of the Philippines (TOP)/ deposit to Authorized
Government Depository Banks (AGDBs). Credit this account for
remittance to the TOP/deposit to AGDBs and/or incurrence of
cash shortage by the collecting officer.
Account Title Petty Cash

Description This account is used to recognize the amount granted to duly
designated Petty Cash Custodian for payment of authorized petty
or miscellaneous expenses which cannot be conveniently paid
through checks. Credit this account every time there is a change
of Petty Cash Custodian for refund and liquidation of cash
advance.
Account Title Local Currency on Hand

Description This account is used to recognize the amount of cash denominated
in local currency in the bank’s vault in the form of notes and coins
under the custody of the cashier/cash custodian or treasurer,
including notes in the possession of tellers and those kept in
automated teller machines (ATM) and the like.
Account Title Foreign Currency on Hand

Description This account is used to recognize the amount of cash denominated
in foreign currency in the bank’s vault in the form of notes and
coins under the custody of the cashier/cash custodian or treasurer,
including notes in the possession of tellers and those kept in
automated teller machines (ATM) and the like.
22
Account Title Checks and Other Cash Items
Description This account is used by banks to recognize the amount of checks
and other cash items received after the selected clearing cut-off
time until the close of the regular banking hours. This account
may consists of the checks drawn on other banks;
Manager’s/Cashier’s/Treasurer’s Checks and Demand Drafts
issued by reporting bank’s other branches/offices or other banks;
and Philippine Postal Money Orders.
Account Title Treasury Fund Capital

Description This account is used to recognize the peso and dollar treasury
capital for gaming and slot machine operations maintained in the
branch’s treasury vault.
02 Cash in Bank-Local Currency
Account Title Cash in Bank-Local Currency, Bangko Sentral ng Pilipinas

Description This account is used to recognize deposits of collections by
government corporations to the BSP which are denominated in
local currency. Credit this account for debit advices/memos
received from BSP.
Account Title Cash in Bank-Local Currency, Current Account

Description This account is used to recognize cash in local currency in a
current account with AGDB, which is used to recognize
deposits/withdrawals including credit/debit advices/memoranda
received from AGDBs.
Account Title Cash in Bank-Local Currency, Savings Account

Description This account is used to recognize cash in local currency in a
savings account with AGDBs, including high yield savings
account, which is used to recognize deposits/withdrawals
including credit/debit advices/memoranda received from AGDBs.
This includes combo account (CA/SA account with automatic
fund transfer feature).
23
Account Title Due from Bangko Sentral ng Pilipinas-Local Currency
Description This account is used to recognize cash in local currency due from
BSP denominated in Philippine currency to meet reserve
requirements and to serve as clearing account for interbank claims.
Account Title Due from Other Banks-Local Currency

Description This account is used to recognize the balance of deposit accounts
maintained with resident and non-resident banks/offshore banking
units denominated in local currency.
03 Cash in Bank-Foreign Currency
Account Title Cash in Bank-Foreign Currency, Bangko Sentral ng Pilipinas

Description This account is used to recognize deposits with the BSP of
collections by government corporations including credit
advices/memos received from the BSP, which are denominated in
foreign currency. Credit this account for debit advices/memos
received from the BSP.
Account Title Cash in Bank-Foreign Currency, Current Account

Description This account is used to recognize cash in foreign currency in a
current account with AGDBs. This is used to recognize deposits/
withdrawals including credit/debit advices/memoranda received
from AGDBs.
Account Title Cash in Bank-Foreign Currency, Savings Account

Description This account is used to recognize cash in foreign currency in a
savings account with AGDBs including high yield savings
account. This is used to recognize deposits/ withdrawals including
credit/debit advices/memoranda received from AGDBs.
Account Title Due from Bangko Sentral ng Pilipinas-Foreign Currency

Description This account is used to recognize the balance of the deposit
account maintained with the BSP which are denominated in
foreign currency.
24
Account Title Due from Other Banks-Foreign Currency
Description This account is used to recognize the balance of deposit accounts
maintained with resident and non-resident banks/offshore banking
units denominated in foreign currency.
04 Treasury/Agency Cash Accounts
Account Title Cash-Modified Disbursement System

Description This account is used to recognize receipt of Notice of Cash
Allocation (NCA) from the Department of Budget and
Management (DBM) for the implementation of locally funded and
foreign-assisted projects. Credit this account upon issuance of
MDS checks/Advice to Debit Account (ADA) and reversion of
lapsed NCA with a corresponding debit to Subsidy from NG
account.
05 Cash Equivalents
Account Title Treasury Bills

Description This account is used to recognize the amount of treasury bills
issued by the National Government through the Bureau of the
Treasury (BTr) purchased with maturity of 90 days or less from
the date of acquisition. Credit this account when the rights to the
cash flows have expired or transferred to another party through
resale or other disposition.
Account Title Time Deposits-Local Currency

Description This account is used to recognize authorized placements of cash in
local currency with AGDBs for a period of 90 days or less. Credit
this account for withdrawal of placements.
Account Title Time Deposits-Foreign Currency

Description This account is used to recognize placements of cash in foreign
currency with AGDBs for a period of 90 days or less. Credit this
account for withdrawal of placements.
25
Account Title Treasury Bonds
Description This account is used to recognize the amount of treasury bonds
purchased with maturity of 90 days or less from the date of
acquisition. Credit this account upon derecognition of the treasury
bond.
Account Title Cash in Transit

Description This account is used to recognize the BSP notes and coins sent
to/by BSP regional currency Operation Units/Cash department still
in transit.
02 Investments
01 Financial Assets at Fair Value Through Surplus/Profit or Deficit/Loss
Account Title Financial Assets Held for Trading

Description This account is used to recognize debt and equity securities 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 account when the rights to the cash flows have expired
or transferred to another party through resale or other disposition.
Account Title Financial Assets Designated at Fair Value Through Surplus/Profit

or Deficit/Loss
Description This account is used to recognize financial assets that, upon initial
recognition, are designated by the entity as at fair value through
surplus/profit or deficit/loss. This shall comprise of both debt and
equity securities and shall be accounted for in the same manner as
held for trading securities. Credit this account when the rights to
the cash flows have expired or transferred to another party through
resale or other disposition.
Account Title Derivative Financial Assets Held for Trading

Description This account is used to recognize financial instruments or other
contracts acquired or incurred principally for the purpose of selling
or repurchasing it in the near future. Credit this account when the
rights to the cash flows have expired or transferred to another party.
26
Account Title Derivative Financial Assets Designated at Fair Value Through
Surplus/Profit or Deficit/Loss
Description This account is used to recognize contracts that are settled gross by
delivery of underlying items. Typical examples of which are
futures and forward, swap and option contract. This account also
refers to non-financial variables that are not specific to a party to
the contract. These include an index of earthquake losses in a
particular region, an index of temperatures in a particular city, and
the like. Credit this account when the rights to the cash flows have
expired or transferred to another party.
02 Financial Assets-Held to Maturity
Account Title Investments in Treasury Bills-Local

Description This account is used to recognize money invested in treasury bills
with 91 days and above maturity issued in the local stock market.
Credit this account upon derecognition of the investments in local
treasury bills, transfers, write-off or write-down.
Account Title Allowance for Impairment-Investments in Treasury Bills-Local

Normal Balance Credit
Description This account is credited when there is objective evidence that the
investments in local treasury bills are impaired. Debit this account
upon derecognition of the investments in local treasury bills,
transfers, reversal of impairment loss, write-off or write-down.
Account Title Investments in Treasury Bills-Foreign

Description This account is used to recognize the money invested in treasury
bills with 91 days and above maturity issued by foreign countries.
Credit this account upon derecognition of the investments in
foreign treasury bills, transfers and write-off or write-down.
Account Title Allowance for Impairment-Investments in Treasury Bills-Foreign

investments in foreign treasury bills are impaired. Debit this
account upon derecognition of the investments in foreign treasury
bills, transfers, reversal of impairment loss, and write-off or write-
down.
27
Account Title Investments in Bonds-Local
Description This account is used to recognize investments in bonds issued by
the BTr and other local investees. Credit this account upon
derecognition of the investments in local bonds, transfers, and
write-off or write-down.
Account Title Allowance for Impairment-Investments in Bonds-Local

investments in local bonds are impaired. Debit this account upon
derecognition of the investments in local bonds, transfers, reversal
of impairment loss, and write-off or write-down.
Account Title Premium on Investments in Bonds-Local

Description This account is used to recognize the excess of peso-denominated
bond acquisition cost over the bond face value. Credit this account
for the recognition of periodic premium amortization.
Account Title Discount on Investments in Bonds-Local

Description This account is used to recognize the excess of peso-denominated
bond face value over the bond acquisition cost. Debit this account
for the recognition of periodic discount amortization.
Account Title Investments in Bonds-Foreign

Description This account is used to recognize the money invested in bonds
issued by treasury of foreign governments and other foreign
investees. Credit this account upon derecognition of the
investments in foreign bonds, transfers, and write-off or write-
down.
Account Title Allowance for Impairment-Investments in Bonds-Foreign

investments in foreign bonds are impaired. Debit this account upon
derecognition of the investments in foreign bonds, and reversal of
impairment loss, and write-off or write-down.
28
Account Title Premium on Investments in Bonds-Foreign
Description This account is used to recognize the excess of foreign currency-
denominated bond acquisition cost over the bond face value.
Credit this account for the recognition of periodic premium
amortization.
Account Title Discount on Investments in Bonds-Foreign

Description This account is used to recognize the excess of foreign currency-
denominated bond face value over the bond acquisition cost. Debit
this account for the recognition of periodic discount amortization.
05 Investments in Joint Venture
Account Title Investments in Joint Venture

Description This account is used to recognize money and/or other assets
invested in entities that are neither a subsidiary nor
associate/affiliate and share in the profit of joint venture where the
government corporation has joint control. Credit this account upon
receipt of the return of the investment, sale, transfers, write-off and
share in the loss of joint venture.
Account Title Allowance for Impairment-Investments in Joint Venture

Description This account is credited to reduce the cost/amortized cost/fair value
of investments due to impairment. Debit this account upon receipt
of the return on the investment, sale, transfers, reversal of
impairment loss, and write-off.
06 Investments in Associates/Affiliates
Account Title Investments in Associates/Affiliates

Description This account is used to recognize money or other asset invested in
entities that are neither a subsidiary nor joint venture, where the
government corporation has significant influence. It is also debited
to recognize the share of the investor in the profit of the
associates/affiliates. Credit this account upon receipt of the return
of the investment, for the share in the loss of the
associates/affiliates, and sale, transfers and write-off.
29
Account Title Allowance for Impairment-Investments in Associates/Affiliates
of investments due to impairment. Debit this account upon receipt
of the return on the investment, sale, transfers, reversal of
07 Sinking Fund
Account Title Sinking Fund

Description This account is used to recognize the amount set aside on a regular
basis to pay off at maturity the long-term debt such as bonds, with
maturities of three years or more. Credit this account for payment
of bond interest expenses and principal.
08 Financial Assets-Available For Sale Securities
Account Title Available For Sale Securities

Description This account is used to recognize the amount of securities, either
debt or equity, that are designated as available for sale which shall
be measured upon initial recognition at their fair value plus
transaction costs that are directly attributable to the acquisition of
securities. This includes investments in equity managed by Local
Fund Managers. Credit this account upon derecognition of the
investments in available for sale securities, transfers, and write-off
or write-down.
Account Title Allowance for Impairment-Available For Sale Securities

Description This account is used to recognize the amount of impairment loss
that has been incurred on Available For Sale Securities. Debit this
account upon derecognition of the available for sale securities, and
reversal of impairment loss, and write-off or write-down.
09 Financial Assets-Domestic Investments
Account Title Domestic Securities

Description This account is used to recognize the amount of investments of
BSP in government bills, bonds and notes, which are either direct
or guaranteed obligations of the National Government. Credit this
account upon derecognition of the investments in domestic
30
securities, transfers, and write-off or write-down.
Account Title Allowance for Impairment-Domestic Securities

that has been incurred on domestic securities. Debit this account
upon derecognition of the domestic investments of BSP, and
reversal of impairment loss, and write-off or write-down.
Account Title Domestic Securities Purchased Under Repurchase Agreement

Description This account is used to recognize the amount of Government
securities that BSP buys from banks with an
undertaking/commitment to sell the same government securities the
next day or at a future date at a specified rate. This transaction is
undertaken when BSP desires to temporarily increase the level of
money supply.
Account Title Allowance for Impairment-Domestic Securities Purchased Under

Repurchase Agreement
Description This account is used to recognize the cumulative amount of
impairment loss that has been incurred on investments in domestic
securities purchased under repurchase agreement. Debit this
account upon derecognition of the domestic securities purchased
under repurchase agreement by the BSP, and reversal of
impairment loss.
Account Title Due from Local Banks

Description This account is used to recognize the amount of loans granted to
rural banks through placement by the BSP of special time deposits
supported by certificates of time deposits.
Account Title Allowance for Impairment-Due from Local Banks

impairment loss that has been incurred on investments in local
bonds. Debit this account upon derecognition of the receivable by
the BSP from local banks, and reversal of impairment loss.
31
10 Investments in Subsidiaries
Account Title Investments in Subsidiaries

Description This account is used to recognize money invested in entities, that
are neither associates/affiliates or joint venture, where the
government corporation has complete control or ownership. Credit
this account upon receipt of the return of the investment, sale,
transfers and write-off.
Account Title Allowance for Impairment-Investments in Subsidiaries

of investments in subsidiaries due to impairment. Debit this
account upon receipt of the return on the investment, sale, transfers,
reversal of impairment loss, and write-off.
11 Investments in Time Deposits
Account Title Investments in Time Deposits-Local Currency

local currency with AGDBs for a period of 91 days or more. Credit
this account for withdrawal of placements.
Account Title Investments in Time Deposits-Foreign Currency

foreign currency with AGDBs for a period of 91 days or more.
Credit this account for withdrawal of placements.
99 Other Investments
Account Title Investments in Stocks

Description This account is used to recognize money invested in the stocks of
government corporations and public utilities measured at cost other
than those invested to joint venture, associates/affiliates and
government corporate subsidiaries. Credit this account upon sale,
transfers and write-off.
32
Account Title Allowance for Impairment-Investments in Stocks
that has been incurred on investments in stocks. Debit this account
upon derecognition of the investments in stocks, and reversal of
impairment loss.
Account Title Investments in Non-Marketable Securities

Description This account is used to recognize the amount of investment in
equity instruments that do not have a quoted market price in an
active market, and whose fair value cannot be reliably measured.
Credit this account upon sale, transfers and write-off.
Account Title Allowance for Impairment-Investments in Non-Marketable

Securities
that has been incurred on Investments in Non-Marketable
Securities. Debit this account upon derecognition of the
investments in Non-Marketable Securities, and reversal of
impairment loss.
Account Title Other Investments

Description This account is used to recognize the amount of other investments
which cannot be classified under any of the specific investment
accounts. Credit this account upon derecognition, transfer and
write-off.
Account Title Allowance for Impairment-Other Investments

of other investments due to impairment. Debit this account upon
receipt of the return on the investment, sale, transfers, reversal of
03 Receivables
01 Loans and Receivable Accounts
Account Title Accounts Receivable

Description This account is used to recognize the amount due from customers
33
arising from regular trade and business transactions. Credit this
account upon collection of receivables, transfers or write-off.
Account Title Allowance for Impairment-Accounts Receivable

Description This account is credited upon recognition of impairment which may
arise from non-collection. Debit this account upon collection of
receivables, transfers, reversal of impairment or write-off.
Account Title Notes Receivable

Description This account is used to recognize claims expected to be received at
a future date, usually with interest, for which a formal instrument of
credit is used as evidence of debt, such as promissory notes, time
drafts or trade acceptances or other negotiable financial instruments
acquired from debtors. Credit this account upon encashment of
notes, transfers or write-off.
Account Title Allowance for Impairment-Notes Receivable

Description This account is credited upon recognition of the amount to reduce
the amortized cost of notes receivable due to impairment, which
may arise from non-collection. Debit this account upon
encashment of notes, transfers, reversal of impairment or write-off.
Account Title Loans Receivable-Local Government Units

Description This account is used to recognize amounts of credit extended to
local government units covered by loan agreements. Credit this
account upon receipt of loan repayments, transfers or write-off.
Account Title Allowance for Impairment-Loans Receivable-Local Government

Units
Description This account is credited upon set-up of provision for losses which
may arise from the non-collection of loans receivable from local
government units. Debit this account upon receipt of loan
repayments, transfers, reversal of impairment, or write-off.
Account Title Interests Receivable

Description This account is used to recognize amounts of accrued interests on
advances, investments, and loans and receivables. Credit this
account upon receipt of interests, transfers, or write-off.
34
Account Title Allowance for Impairment-Interests Receivable
may arise from the non-collection of interests receivable. Debit
this account upon receipt of interests, transfers, reversal of
impairment, or write-off.
Account Title Dividends Receivable

Description This account is used to recognize the amount of cash dividends
earned but not yet received on shares of stocks owned by the
government corporations that are held as Held for Trading,
Designated at Fair Value through Surplus/Profit or Deficit/Loss,
Available for Sale and other investments. Credit this account upon
receipt of dividends, transfers, or write-off.
Account Title Allowance for Impairment-Dividends Receivable

Description This account is credited to reduce the amortized cost of dividends
receivable due to impairment, which may arise from non-collection
of the receivables. Debit this account upon receipt of dividends
receivable, transfers, reversal of impairment, or write-off.
Account Title Loans Receivable-Other Government Corporations

Description This account is used to recognize credits/loans in foreign or local
currency extended by a government corporation to other
government corporations covered by loan agreements. Credit this
account for receipt of loan repayments, transfers or write-off loans
to other government corporations.
Account Title Allowance for Impairment-Loans Receivable-Other Government

Corporations
may arise from the non-collection of loans receivable from other
government corporations. Debit this account upon receipt of loan
repayments, transfers, reversal of impairment, or write-off.
Account Title Subrogated Claims Receivable

Description This account is used to recognize the amounts of insured deposits
paid by a corporation to depositors of closed banks; advances made
35
by the corporation to creditor banks or assumption of the
guaranteed portion of loans, interests, as well as other charges
related thereto under the guarantee program. Credit this account
upon collection of receivables, transfers, or write-off.
Account Title Allowance for Impairment-Subrogated Claims Receivable

Description This account is credited to reduce the amortized cost of subrogated
claims receivable due to impairment, which may arise from non-
collection of the receivables. Debit this account upon receipt of
subrogated loans receivables, transfers, reversal of impairment, or
write-off.
Account Title Contributions and Premiums Receivable

Description This account is used to recognize amounts due, accruing and
collectible during the current year in the form of contributions and
premiums on optional, medicare, employee compensation and non-
life insurance funds including crop insurance premiums from
assured farmers. Credit this account upon collection of receivables,
transfers, or write-off.
Account Title Allowance for Impairment-Contributions and Premiums Receivable

Description This account is credited to reduce the amortized cost of
contributions and premiums receivable due to impairment. Debit
this account upon receipt of contributions and premiums receivable,
transfers, reversal of impairment, or write-off.
Account Title Mortgage Contracts Receivable

Description This account is used to recognize the price of assets acquired which
are sold under a plan of settlement whereby the title to said asset is
transferred to the buyer who executes a real estate mortgage
contract in favor of the entity. The HDMF finances the mortgage
of the borrower. Credit this account upon collection of receivables,
Account Title Allowance for Impairment-Mortgage Contracts Receivable

Description This account is credited to reduce the amortized cost of mortgage
contracts receivable due to impairment which may arise from non-
collection of receivables. Debit this account upon receipt of
mortgage contracts receivable, transfers, reversal of impairment, or
write-off.
36
Account Title Loans to BSP
Description This account is used to recognize foreign currency denominated
loans and discounts granted by a Foreign Currency Deposit
Unit/Expanded Foreign Currency Deposit Unit to BSP. Credit this
account upon collection of receivables, transfers, or write-off.
Account Title Allowance for Impairment-Loans to BSP

Description This account is credited to reduce the amortized cost of loans to
BSP due to impairment. Debit this account upon receipt of loans,
Account Title Inter-bank Loans Receivable

Description This account is used to recognize interbank call and term loans
receivable granted to other resident banks and non-bank financial
intermediaries with quasi-banking authority. Credit this account
upon collection of receivables, transfers, or write-off
Account Title Allowance for Impairment-Inter-bank Loans Receivable

Description This account is credited to reduce the amortized cost of inter-bank
loans receivable due to impairment. Debit this account upon
receipt of inter-bank loans receivables, transfers, reversal of
impairment, or write-off.
Account Title Deficiency Claims Receivable

Description This account is used to recognize the amount of probable claims
filed with the courts against borrowers/debtors arising from the
foreclosure of mortgaged property. This refers also to the excess of
outstanding loans over the appraised value of foreclosed property.
Credit this account upon collection of receivables, transfers, or
write-off.
Account Title Allowance for Impairment-Deficiency Claims Receivable

may arise from non-collections of deficiency claims receivable.
Debit this account upon receipt of deficiency claims receivables,
37
Account Title Due from Reinsurer
Description This account is used to recognize the amounts due from
reinsurers/ceding companies in the form of losses recoverable,
profit commissions and premiums on reinsurance and funds held in
trust. Credit this account upon collection of receivable, transfers,
or write-off.
Account Title Allowance for Impairment-Due from Reinsurer

Description This account is credited to set up provision due to impairment of
dues from reinsurer. Debit this account upon receipt of payment
for dues from reinsurer, transfers, reversal of impairment loss, and
write-off.
Account Title Accrued Service Fee Receivable

Description This account is used to recognize the service fees accrued based
on premium produced on private insurance companies, extra-
remuneration from GSIS on policies paid within the 30-day period
and the amount of contingent profit commission due from the
accredited insurance companies based on the terms/provisions
under the Brokerage Agreement.
Account Title Allowance for Impairment-Accrued Service Fee Receivable

Description This account is credited to reduce the amortized cost of accrued
service fee receivable due to impairment. Debit this account upon
receipt of service fee receivable, transfers, reversal of impairment,
or write-off.
Account Title Sales Contract Receivable

Description This account is used to recognize the amount due from installment
sale of acquired assets in settlement of loan through foreclosure or
dation in payment. Title of the property is transferred to the buyer
only upon full payment of the agreed selling price. Credit this
account upon collection of receivables, transfers or write-off.
Account Title Allowance for Impairment-Sales Contract Receivable

impairment loss that has been incurred on Sales Contract
38
Receivable. Debit this account upon receipt of sales contract
receivables, transfers, reversal of impairment, or write-off.
Account Title Sales Contract Receivable-Discount

Description This account is used to recognize the unamortized discount on
Sales Contract Receivable representing financial service fees that
are an integral part of the effective interest of the account, which
shall be debited monthly based on the effective interest method
with the corresponding credit to “Interest Income-Sales Contract
Receivable.”
Account Title Reinsurance Receivable

Description This account is used to recognize the amount receivable from
reinsurers under agreements as their share on paid losses and loss
adjustments expenses including commissions due on reinsurance
business. Credit this account upon collection of receivables,
transfers or write-off.
Account Title Allowance for Impairment-Reinsurance Receivable

impairment loss that has been incurred on Reinsurance Receivable.
Debit this account upon receipt of reinsurance receivables,
Account Title Due from Head Office/Branches/Agencies Abroad

Description This account is used to recognize clearing account for
items/transactions between the Philippine branches of foreign
banks and its head office/branches/agencies abroad. Credit this
account for payment/liquidation of receivable.
Account Title Allowance for Impairment-Due from Head

Office/Branches/Agencies Abroad
may arise from the non-collection of Due from Head
Office/Branches/Agencies Abroad. Debit this account upon receipt
of other loans receivables, transfers, reversal of impairment, or
write-off.
39
Account Title Receivership and Liquidation Receivable
Description This account is used to recognize the amount of advances made to
closed banks for their operating expenses while under receivership
and/or liquidation. It also includes receivables from various closed
banks arising from the guarantee granted in favor of borrowers.
Account Title Allowance for Impairment-Receivership and Liquidation

Receivable
of Receivership and Liquidation Receivable due to impairment.
Debit this account upon receipt of other receivables, transfers,
reversal of impairment loss, and write-off.
Account Title Loans Receivable-Others

Description This account is used to recognize amounts due from debtors and
other entities not falling under any of the specific receivable
account. Credit this account upon collection of receivables,
Account Title Allowance for Impairment-Loans Receivable-Others

may arise from the non-collection of other loans receivables. Debit
this account upon receipt of other loans receivables, transfers,
reversal of impairment, or write-off.
02 Lease Receivable
Account Title Operating Lease Receivable

Description This account is used to recognize the accrual of rental income from
lease of assets. Credit this account upon collection of rental
income, transfers, or write-off.
Account Title Allowance for Impairment-Operating Lease Receivable

may arise from the non-collection of the operating lease
receivables. Debit this account upon receipt of the receivables,
40
Account Title Finance Lease Receivable
Description This account is used to recognize the amount due from sale of
government property on installment basis. Credit this account upon
collection of installment due, transfers, or write-off.
Account Title Allowance for Impairment-Finance Lease Receivable

may arise from the non-collection of finance lease receivable.
Debit this account upon receipt of finance lease receivable,
03 Inter-Agency Receivables
Account Title Due from National Government Agencies

Description This account is used to recognize advances for purchase of
goods/services as authorized by law, fund transfers to the National
Government Agencies (NGAs) for implementation of projects and
other receivables from NGAs. Credit this account upon receipt of
goods/services, and liquidation of fund transfers/receivables.
Account Title Due from Local Government Units

Description This account is used to recognize amount of advances for purchase
of goods/services as authorized by law, fund transfers to the Local
Government Units (LGUs) for implementation of projects, share
from LGUs income and other receivables. Credit this account for
receipt of goods/services, liquidation of fund transfers and receipt
of share/payment for other receivables.
Account Title Due from Government Corporations

Description This account is used to recognize receivables from other
government corporations pertaining to fund transfers and advances
for implementation of projects; other inter-agency transactions
subject to liquidation; and other statutory contributions due from
government corporations. Credit this account upon receipt of
goods/services, liquidation of fund transfers/receivables, and
receipt of payment for statutory contributions due from government
corporations and other receivables.
41
Account Title Due from Subsidiaries/Joint Ventures/Associates/Affiliates
Description This account is used to recognize receivables from
subsidiaries/joint ventures/associates/affiliates pertaining to
obligations paid in advance for subsidiaries; share in income of
joint ventures, expenses paid in advance for joint
ventures/associates/affiliates, etc. Credit this account for receipt of
share in income from, liquidation of advances to, or transfers of
shares from subsidiaries/joint ventures/associates/affiliates.
Account Title Due from Parent Corporations

Description This account is used to recognize the amounts receivable by
subsidiaries and associates/affiliates of government corporations
from parent corporations. Credit this account for receipt of
goods/services, liquidation of fund transfers and receipt of
share/payment from parent corporation.
04 Intra-Agency Receivables
Account Title Due from Operating Units

Description This account is used to recognize receivables of central/home/head
office from its operating units/field units below regional/branch
level. It also includes fund transfers to an operating/field unit from
another operating/field unit of the same government corporation.
Credit this account for payment/liquidation of receivable.
Account Title Due from Other Funds

Description This account is used to recognize transfers from one fund to
another fund maintained within the corporation as legally
authorized. Credit this account for payment/liquidation of fund
transfer.
Account Title Due from Central Office/Home/Head Office

Description This account is used to recognize the amount of receivables of
regional/branch/field offices from their central/home/head office.
Credit this account for payment/liquidation of receivable.
42
Account Title Due from Regional/Branch Offices
Description This account is used to recognize the amount of receivables of
central/home/head office from its regional/branch office. It also
includes receivables to a regional/branch office from another
regional/branch office of the same government corporation. Credit
this account for payment/liquidation of receivable.
05 Other Receivables
Account Title Receivables-Disallowances/Charges

Description This account is used to recognize the amount of
disallowances/charges in audit due from public/private
individuals/entities which have become final and executory. Credit
this account for settlement of disallowances/charges.
Account Title Due from Officers and Employees

Description This account is used to recognize amount of claims from entity's
officers and employees for overpayment (not covered by ND), cash
shortage, loss of assets and other bills issued by the entity and
losses in excess of allowable variance between books and
volumetric count of merchandise inventory. Credit this account for
collection of receivables, write-off and approved relief from
property accountability.
Account Title Due from Non-Government Organizations/People's Organizations

Description This account is used to recognize amount of advances granted to
Non-Government Organizations (NGOs)/People’s Organizations
(POs) for implementation of specific projects. Credit this account
for liquidation of advances.
Account Title Insurance Claims Receivable

Description This account is used to recognize the amount due from insurance
company for damages and other related claims. Credit this account
for payment of receivable.
Account Title Allowance for Impairment-Insurance Claims Receivable

Description This account is credited to reduce insurance claims receivable to its
43
recoverable amount due to impairment. Debit this account upon
receipt of the receivables, transfers, reversal of impairment loss,
and write-off.
Account Title Deficiency Judgment Receivable

Description This account is used to recognize the claims against
borrower/debtor arising from deficiency judgments rendered by
court. Credit this account upon collection of receivables, transfers
or write-off.
Account Title Allowance for Impairment-Deficiency Judgment Receivable

Description This account is credited to reduce deficiency judgment receivable
to its recoverable amount due to impairment. Debit this account
upon receipt of the receivables, transfers, reversal of impairment
loss, and write-off.
Account Title Subscriptions Receivable

Description This account is used to recognize the unpaid portion of the
subscribed stocks of the entity.
Account Title Other Receivables

Description This account is used to recognize amount due from debtors and
other entities not falling under any of the specific receivable
account. Credit this account for payment/liquidation of receivables.
Account Title Allowance for Impairment-Other Receivables

of other receivables due to impairment. Debit this account upon
receipt of other receivables, transfers, reversal of impairment loss,
and write-off.
44
04 Inventories
01 Inventory Held for Sale
Account Title Merchandise Inventory

Description This account is used to recognize the cost of goods
purchased/acquired/produced which are intended for sale in the
ordinary course of business as well as share in the reclaimed land
with proponents, land and other items that are intended for sale.
This includes forest products, food supplies for canteen operations
and the like, and other merchandise. Credit this account for the
sale, transfers or write-down of merchandise inventory.
Subsidiary Ledgers:
01 – Supplies and Materials
02 – Drugs and Medicines
03 – Agricultural Produce
04 – Ammunitions
05 – Property and Equipment
06 – Land/Reclaimed Land
07 – Forest Products
08 – Rice Procured
09 – Food Supplies for canteen operations and the like
10 – Completed Development for Sale/Transfer
99 – Others
Account Title Allowance for Impairment-Merchandise Inventory

Description This account is credited for any initial or subsequent write-down of
obsolete/outdated, spoiled, spilled, shrunk and/or evaporated
merchandise inventory to net realizable value. This also includes
allowable variance between book and volumetric count of
merchandise inventory. Debit this account upon disposal,
derecognition of the merchandise inventory or reversal of
impairment loss.
02 Inventory Held for Distribution
Account Title Food Supplies for Distribution

Description This account is used to recognize the cost of food for distribution to
hospital/rehabilitation patients, jail inmates and the like. Credit this
account for issuance to end-users or transfers.
45
Account Title Allowance for Impairment-Food Supplies for Distribution
food supplies for distribution due to fortuitous event. Debit this
account upon disposal, derecognition of the food supplies for
distribution or reversal of impairment loss.
Account Title Welfare Goods for Distribution

Description This account is used to recognize the cost of goods for distribution
to people affected by calamities/disasters/ground conflicts such as
canned goods, noodles, mosquito nets, blankets, mats, kitchen
utensils, flashlights and other similar items. Credit this account for
issuance to end-users or transfers.
Account Title Allowance for Impairment-Welfare Goods for Distribution

welfare goods for distribution due to fortuitous event. Debit this
account upon disposal, derecognition of the welfare goods for
Account Title Drugs and Medicines for Distribution

Description This account is used to recognize the cost of drugs and medicines
purchased/received for distribution. Credit this account for
Account Title Allowance for Impairment-Drugs and Medicines for Distribution

drugs and medicines due to fortuitous event. Debit this account
upon disposal, derecognition of the drugs and medicines for
Account Title Medical, Dental and Laboratory Supplies for Distribution

Description This account is used to recognize the cost of medical, dental and
laboratory supplies purchased/received for distribution. Credit this
account for issuance to end-users or transfers.
46
Account Title Allowance for Impairment-Medical, Dental and Laboratory
Supplies for Distribution
medical, dental and laboratory supplies for distribution due to
fortuitous event. Debit this account upon disposal, derecognition of
the medical, dental and laboratory supplies for distribution or
reversal of impairment loss.
Account Title Agricultural and Marine Supplies for Distribution

Description This account is used to recognize 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 account for
issuance to end-users or transfers of the inventory.
Account Title Allowance for Impairment-Agricultural and Marine Supplies for

Distribution
agricultural and marine supplies for distribution due to fortuitous
event. Debit this account upon disposal, derecognition of the
agricultural and marine supplies for distribution or reversal of
impairment loss.
Account Title Agricultural Produce for Distribution

Description This account is used to recognize the cost of agricultural produce
for distribution. This includes livestock and poultry; crops and
fruits; and other agricultural products, supplies for aquaculture
researches, environment protection/preservation and the like.
Credit this account for the issuance to end-users or transfers of
agricultural produce.
Account Title Allowance for Impairment-Agricultural Produce for Distribution

agricultural produce for distribution due to fortuitous event. Debit
this account upon disposal, derecognition of the agricultural
produce for distribution or reversal of impairment loss.
47
Account Title Textbooks and Instructional Materials for Distribution
Description This account is used to recognize the cost of textbooks and
instructional materials including flipcharts, video clips/slides, and
the like, purchased/received for distribution. Credit this account for
Account Title Allowance for Impairment-Textbooks and Instructional Materials

for Distribution
textbooks and instructional materials for distribution due to
fortuitous event. Debit this account upon disposal, derecognition of
the textbooks and instructional materials for distribution or reversal
of impairment loss.
Account Title Construction Materials for Distribution

Description This account is used to recognize the cost of construction materials
for distribution. Credit this account for issuance to end-users or
transfers.
Account Title Allowance for Impairment-Construction Materials for Distribution

construction materials for distribution due to fortuitous event.
Debit this account upon disposal, derecognition of the construction
materials for distribution or reversal of impairment loss.
Account Title Property and Equipment for Distribution

Description This account is used to recognize the cost of property and
equipment purchased/received for distribution. Credit this account
for issuance to end-users or transfers.
Account Title Allowance for Impairment-Property and Equipment for

Distribution
property and equipment for distribution due to fortuitous event.
Debit this account upon disposal, derecognition of the property and
equipment for distribution or reversal of impairment loss.
48
Account Title Other Supplies and Materials for Distribution
Description This account is used to recognize the cost of purchased/acquired
inventories not falling under any of the specific inventory accounts
held for distribution. Credit this account for issuance to end-users
or transfers.
Account Title Allowance for Impairment-Other Supplies and Materials for

Distribution
other supplies and materials for distribution due to fortuitous event.
Debit this account upon disposal, derecognition of the other
supplies and materials for distribution or reversal of impairment
loss.
03 Inventory Held for Manufacturing
Account Title Raw Materials Inventory

Description This account is used to recognize the cost of unprocessed materials
that serve as component of produced goods. Credit this account for
the issuance of raw materials for production, transfers or write-
down of the raw materials.
Account Title Allowance for Impairment-Raw Materials Inventory

obsolete/outdated, spoiled, spilled, shrunk and/or evaporated raw
materials inventory to net realizable value. Debit this account upon
disposal, derecognition of the inventory or reversal of impairment
loss.
Account Title Work-in-Process Inventory

Description This account is used to recognize cost of goods still in the process
of being manufactured or fabricated to produce an end product.
Credit this account upon completion of the product/inventory,
transfers or write-down.
Account Title Allowance for Impairment-Work-in-Process Inventory

obsolete/outdated, spoiled, spilled, shrunk and/or evaporated work-
49
in-process inventory to fair value less costs to sell. Debit this
account upon disposal, derecognition of the inventory or reversal of
impairment loss.
Account Title Finished Goods Inventory

Description This account is used to recognize cost of completed/manufactured
product available for sale or use. Credit this account for transfer to
other inventory accounts or other disposal, and write-down.
Account Title Allowance for Impairment-Finished Goods Inventory

obsolete/outdated, spoiled, spilled, shrunk and/or evaporated
finished goods inventory to fair value less costs to sell. Debit this
account upon disposal, derecognition of the inventory or reversal of
impairment loss.
04 Inventory Held for Consumption
Account Title Office Supplies Inventory

Description This account is used to recognize the cost or value of
purchased/acquired office supplies such as bond papers, inks, and
small tangible items like staple wire removers, punchers, staplers
and other similar items for government operations. Credit this
account for issuance to end-users, transfers, loss or other disposal.
Account Title Allowance for Impairment-Office Supplies Inventory

Description This account is credited for any subsequent write-down of office
supplies inventory due to fortuitous event. Debit this account upon
disposal, derecognition of the inventory for distribution or reversal
of impairment loss.
Account Title Accountable Forms, Plates and Stickers Inventory

Description This account is used to recognize cost of accountable forms, with or
without money value, acquired for government operations. Credit
this account for issuance to end-users, transfers, loss or other
disposal.
50
Account Title Allowance for Impairment-Accountable Forms, Plates and Stickers
Inventory
Description This account is credited for any subsequent write-down of
Accountable Forms, Plates and Stickers Inventory due to fortuitous
inventory for distribution or reversal of impairment loss.
Account Title Non-Accountable Forms Inventory

Description This account is used to recognize the cost of non-accountable forms
such as pre-printed application forms, tax returns forms, accounting
forms and the like. Credit this account for issuance to end-users,
transfers, loss or other disposal.
Account Title Allowance for Impairment-Non-Accountable Forms Inventory

Description This account is credited for any subsequent write-down of Non-
Accountable Forms Inventory due to fortuitous event. Debit this
account upon disposal, derecognition of the inventory for
Account Title Animal/Zoological Supplies Inventory

Description This account is used to recognize 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 account for
issuance to end-users, transfers, loss or other disposal.
Account Title Allowance for Impairment-Animal/Zoological Supplies Inventory

Account Number Credit
Animal/Zoological Supplies Inventory due to fortuitous event.
Debit this account upon disposal, derecognition of the inventory for
Account Title Food Supplies Inventory

Description This account is used to recognize cost of food for
hospital/rehabilitation patients and the like. Credit this account for
51
Account Title Allowance for Impairment-Food Supplies Inventory
Description This account is credited for any subsequent write-down of Food
Supplies Inventory due to fortuitous event. Debit this account upon
of impairment loss.
Account Title Drugs and Medicines Inventory

Description This account is used to recognize the cost of drugs and medicines
purchased/received for government operations. Credit this account
for issuance to end-users, transfers, loss or other disposal.
Account Title Allowance for Impairment-Drugs and Medicines Inventory

Description This account is credited for any subsequent write-down of Drugs
and Medicines Inventory due to fortuitous event. Debit this account
upon disposal, derecognition of the inventory for distribution or
Account Title Medical, Dental and Laboratory Supplies Inventory

Description This account is used to recognize the cost of medical, dental and
laboratory supplies purchased/received for government operations.
Credit this account for issuance to end-users, transfers, loss or other
disposal.
Account Title Allowance for Impairment-Medical, Dental and Laboratory Supplies

Inventory
Description This account is credited for any subsequent write-down of Medical,
Dental and Laboratory Supplies Inventory due to fortuitous event.
Account Title Fuel, Oil and Lubricants Inventory

Description This account is used to recognize the cost of fuel and oil in
government depots, lubricants and other oil products for use in
government vehicles and other equipment in connection with
government operations/projects. This also includes the cost or fair
value of refined/processed fuel utilized in running power plants.
Credit this account for issuance to end-users, transfers, loss or other
disposal.
52
Account Title Allowance for Impairment-Fuel, Oil and Lubricants Inventory
Description This account is credited for any subsequent write-down of Fuel, Oil
and Lubricants Inventory due to fortuitous event. Debit this account
upon disposal, derecognition of the inventory for distribution or
Account Title Agricultural and Marine Supplies Inventory

and other marine and agricultural supplies for use in government
operations. This includes supplies for aquaculture researches,
environment protection/ preservations and the like. Credit this
account for issuance to end-users, transfers, loss or other disposal.
Account Title Allowance for Impairment-Agricultural and Marine Supplies

Inventory
Agricultural and Marine Supplies Inventory due to fortuitous event.
Account Title Textbooks and Instructional Materials Inventory

Description This account is used to recognize 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 account for issuance to end-users, transfers,
loss or other disposal.
Account Title Allowance for Impairment-Textbooks and Instructional Materials

Inventory
Textbooks and Instructional Materials Inventory due to fortuitous
Account Title Military, Police and Traffic Supplies Inventory

Description This account is used to recognize the cost of military, police and
traffic supplies acquired for government operations such as
53
truncheons, ammunitions, night sticks, clubs/cudgels, police/ traffic
gears, flashlights, helmets and the like. Credit this account for
Account Title Allowance for Impairment-Military, Police and Traffic Supplies

Inventory
Description This account is credited for any subsequent write-down of Military,
Police and Traffic Supplies Inventory due to fortuitous event. Debit
this account upon disposal, derecognition of the inventory for
Account Title Chemical and Filtering Supplies Inventory

Description This account is used to recognize cost of chemical, water treatment,
filtering supplies and the like used in government operations. Credit
this account for issuance to end-users, transfers, loss or other
disposal.
Account Title Allowance for Impairment-Chemical and Filtering Supplies

Inventory
Description This account is credited for any subsequent write-down of Chemical
and Filtering Supplies Inventory due to fortuitous event. Debit this
Account Title Construction Materials Inventory

Description This account is used to recognize cost of construction materials
purchased/acquired for stock and later issuance for the construction,
fabrication, repair and rehabilitation of government facilities
undertaken by administration. Credit this account for issuance to
projects, transfers, loss or other disposal.
Account Title Allowance for Impairment-Construction Materials Inventory

Construction Materials Inventory due to fortuitous event. Debit this
54
Account Title Currency Inventory
Description This account is used to recognize cost of notes and coins delivered
from SPC to the Unissued Currency Stock Committee but not yet
issued to Cash Department.
Account Title Allowance for Impairment-Currency Inventory

Description This account is credited for any subsequent write-down of Currency
Inventory due to fortuitous event. Debit this account upon disposal,
derecognition of the inventory for distribution or reversal of
impairment loss.
Account Title Demonetized Coins for Melting

Description This account is used to recognize the value of silver treasury coins
purchased by BSP from the public at a premium.
Account Title Allowance for Impairment-Demonetized Coins for Melting

Demonetized Coins for Melting due to fortuitous event. Debit this
Account Title Information Materials Inventory

Description This account is used to recognize supplies, e.g., flyers, leaflets,
brochures and the like, intended for information dissemination.
Credit this account for issuance, transfers or other disposal.
Account Title Allowance for Impairment-Information Materials Inventory

Information Materials Inventory due to fortuitous event. Debit this
Account Title Linens and Beddings

Description This account is used to recognize the cost of linens and beddings,
including curtains, scrub suits and patients' gowns, purchased for
stock and for use in government hospital/dormitory. Credit this
55
account for issuance, transfers or other disposal.
Account Title Allowance for Impairment-Linens and Beddings

Description This account is credited for any subsequent write-down of Linens
and Beddings due to fortuitous event. Debit this account upon
of impairment loss.
Account Title Play/Bet Slips and Thermal Rolls Supplies Inventories

Description This account is used to recognize the cost of play/bet slips and
thermal rolls supplies, purchased for stock and for use in
government operation. Credit this account for issuance, transfers or
other disposal.
Account Title Allowance for Impairment-Play/Bet Slips and Thermal Rolls

Supplies Inventories
Description This account is credited for any subsequent write-down of Play/Bet
Slips and Thermal Rolls Supplies Inventories due to fortuitous
Account Title Other Supplies and Materials Inventory

Description This account is used to recognize the cost of purchased/acquired
supplies and materials not falling under any of the specific inventory
accounts held for consumption. Credit this account for issuance,
Account Title Allowance for Impairment-Other Supplies and Materials Inventory

Description This account is credited for any subsequent write-down of Other
Supplies and Materials Inventory due to fortuitous event. Debit this
56
05 Semi-Expendable Machinery and Equipment
Account Title Semi-Expendable Machinery

Description This account is used to recognize the cost/fair value of the
purchased/acquired machinery costing less than P15,000. Credit
this account for issues, transfers, loss or other modes of disposal.
Account Title Semi-Expendable Office Equipment

purchased/acquired office equipment costing less than P15,000 for
the use in government operations. Credit this account for issues,
transfers, losses or other modes of disposal.
Account Title Semi-Expendable Information and Communication Technology

Equipment
purchased/acquired information and communications technology
equipment, which includes laptops, printers, scanners, and the like,
costing less than P15,000 for the use in government operations.
Credit this account for issuance, transfers, loss or other disposal.
Account Title Semi-Expendable Agricultural and Forestry Equipment

purchased/acquired agricultural and forestry equipment costing less
than P15,000. It includes threshing and milling machines, plow,
grass cutting machines and the like. Credit this account for
issuance, transfers, loss or other disposal.
Account Title Semi-Expendable Marine and Fishery Equipment

purchased/acquired marine and fishery equipment costing less than
P15,000. Credit this account for issuance, transfers, loss or other
disposal.
Account Title Semi-Expendable Airport Equipment

purchased/acquired airport equipment costing less than P15,000 for
the use in government operations. Credit this account for issuance,
57
Account Title Semi-Expendable Communication Equipment

purchased/acquired communication equipment costing less than
P15,000 for the use in government operations. Credit this account
for issuance, transfers, loss or other disposal.
Account Title Semi-Expendable Disaster Response and Rescue Equipment

purchased/acquired disaster response and rescue equipment costing
less than P15,000 for the use in disaster response and rescue
activities. Credit this account for issuance, transfers, loss or other
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
Account Title Semi-Expendable Military, Police and Security Equipment

purchased/acquired military, police and security equipment costing
less than P15,000 for the use in government operations. Credit this
account for issuance, transfers, loss or other disposal.
Account Title Semi-Expendable Medical Equipment

purchased/acquired medical equipment costing less than P15,000
for the use in the delivery of medical services. Credit this account
for issuance, transfers, loss or other disposal.
Account Title Semi-Expendable Printing Equipment

purchased/acquired printing equipment costing less than P15,000
for the use in government printing needs. Credit this account for
58
Account Title Semi-Expendable Sports Equipment
purchased/acquired sports equipment costing less than P15,000 for
the use in the government’s promotion of sports, such as:
treadmills, stationary bikes, weights, gymnastic facilities,
basketball goals and the like. Credit this account for issuance,
Account Title Semi-Expendable Technical and Scientific Equipment

purchased/acquired technical and scientific equipment costing less
than P15,000 for the use in government operations. Credit this
Account Title Semi-Expendable Construction and Heavy Equipment

purchased/acquired construction and heavy equipment for use in
government operations costing less than P15,000 for the use in
government operations. Credit this account for issuance, transfers,
loss or other disposal.
Account Title Semi-Expendable Gaming Equipment

purchased/acquired gaming equipment costing less than P15,000
for the use in government operations. Credit this account for
Account Title Semi-Expendable Other Machinery and Equipment

purchased/acquired machinery and equipment costing less than
P15,000, not otherwise classified under the specific semi-
expendable machinery and equipment accounts. Credit this
06 Semi-Expendable Furniture, Fixtures and Books
Account Title Semi-Expendable Furniture and Fixtures

59
purchased/acquired furniture and fixtures costing less than P15,000
for the use in the government operations. Credit this account for
issuance, transfers, loss or other disposal and adjustments.
Account Title Semi-Expendable Books

purchased/acquired books and other reference materials including
those in electronic copies (in CD/DVD) for use in government
operations that costs less than P15,000. Credit this account for
issuance, transfers, loss or other disposal and adjustments.
07 Domestic Gold and Silver Inventory
Account Title Gold for Refining

Description This account is used to recognize the amount of local purchase of
gold from gold panners by the BSP gold buying stations.
Account Title Gold for Domestic Sales

Description This account is used to recognize the amount of manufactured gold
grains and gold sheets for sale to domestic buyers.
Account Title Silver for Domestic Sales

Description This account is used to recognize the amount of manufactured
silver grains and silver sheets for sale to domestic buyers.
Account Title Silver for Refining

Description This account is used to recognize the amount of local purchases by
the BSP gold buying stations of silver from gold panners for
refinement into gold silver bars.
08 Plant Inventory
Subsidiary Ledgers:
01 – Silver in Bullion Vault
02 – Gold in Bullion Vault
03 – Gold for Domestic Sale
04 – Raw Materials
05 – Finished Goods
99 – Others
60
05 Investment Property
01 Land and Buildings
Account Title Investment Property, Land

Description This account is used to recognize 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 account for
disposal or reclassification to Property, Plant and Equipment
account when the property will be used other than to earn rental or
for capital appreciation. For entities adopting the fair value model,
this account shall be debited/credited for the increase/decrease in
fair value of investment property.
Account Title Accumulated Impairment Losses-Investment Property, Land

Description This account is credited for the loss in the future economic benefits
or service potential of the investment property. Debit this account
upon disposal of the asset and reversal of impairment loss. This
account is used by entities adopting the cost model.
Account Title Investment Property, Buildings

Description This account is used to recognize 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
account for disposal or reclassification to Property, Plant and
Equipment account. For entities adopting the fair value model, this
account shall be debited/credited for the increase/decrease in fair
value of investment property.
Account Title Accumulated Depreciation-Investment Property, Buildings

Description This account is credited for the allocation of cost of building held
as investment property in accordance with the prescribed policy on
depreciation. Debit this account upon disposal of the asset or
reclassification to Property, Plant and Equipment account. This
account is used by entities adopting the cost model.
Account Title Accumulated Impairment Losses-Investment Property, Buildings

Description This account is credited forth loss in the future economic benefits
or service potential of the investment property, over and above
depreciation, which is equivalent to the excess of the carrying
61
amount of the asset over its recoverable service amount. Debit this
account upon disposal of the asset, upon reclassification to other
Property, Plant and Equipment account, transfers or reversal of
impairment loss. This account is used by entities adopting the cost
model.
99 Construction in Progress
Account Title Construction in Progress-Investment Property, Buildings

Description This account is used to recognize the accumulated cost or other
appropriate value of investment property-buildings which are still
in the process of construction or development. Credit this account
for reclassification to the appropriate Investment Property-
Buildings account upon completion.
06 Property, Plant and Equipment

01 Land
Account Title Land

Description This account is used to recognize the cost incurred in the
purchase/reclamation or fair value if acquired through donation or
transfers without cost of land. Credit this account upon disposal or
reclassification to Investment Property account.
Account Title Accumulated Impairment Losses-Land

Description This account is credited for the amount recognized to reduce land
upon derecognition of the asset or reversal of impairment loss.
02 Land Improvements
Account Title Land Improvements, Aquaculture Structures

Description This account is used to recognize 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 account upon disposal or
derecognition of the asset.
62
Account Title Accumulated Depreciation-Land Improvements, Aquaculture
Structures
Description This account is credited for the allocation of cost of land
improvements-aquaculture structures in accordance with the
prescribed policy on depreciation. Debit this account upon disposal
or derecognition of the asset.
Account Title Accumulated Impairment Losses-Land Improvements, Aquaculture

Structures
Description This account is credited for the amount recognized to reduce land
improvements, aquaculture structures to its recoverable amount.
This is the difference between the land improvements-aquaculture's
recoverable amount and its carrying amount at a specific
accounting period. Debit this account upon disposal or
derecognition of the asset or reversal of impairment loss.
Account Title Land Improvements, Reforestation Projects

reforestation such as the costs of seedlings, labor and maintenance
contracts. Credit this account for disposal of the asset or
derecognition of the cost of the deforested/devastated portion.
Account Title Accumulated Impairment Losses-Land Improvements,

Reforestation Projects
Description This account is credited for the amount recognized to reduce
reforestation projects to its recoverable amount. This is the
difference between the land reforestation projects recoverable
amount and its carrying amount at a specific accounting period.
Debit this account upon disposal or derecognition of the asset or
Account Title Other Land Improvements

of land improvements such as parking lots, landscape, walkways,
driveways, covered walks, fences, and the like. Credit this account
upon disposal or derecognition of the asset.
63
Account Title Accumulated Depreciation-Other Land Improvements
Description This account is credited for the allocation of cost of other land
improvements in accordance with the prescribed policy on
depreciation. Debit this account upon disposal or derecognition of
the asset.
Account Title Accumulated Impairment Losses-Other Land Improvements

Description This account is credited for the amount recognized to reduce other
land improvements to its recoverable amount. This is the
difference between the other land improvement's recoverable
amount and its carrying amount at a specific accounting period.
Debit this account upon disposal or derecognition of the asset or
03 Infrastructure Assets
Account Title Road Networks

or construction or fair value, if acquired through donation or
transfers without cost, of the roads, highways and bridges, and
other road network facilities such as traffic lights and road signage
for public user for income generating purposes. Credit this account
upon derecognition of the carrying amount of the replaced portion.
Account Title Accumulated Depreciation-Road Networks

Description This account is credited for the allocation of cost of road networks
in accordance with the prescribed policy on depreciation. Debit
this account upon derecognition of the asset.
Account Title Accumulated Impairment Losses-Road Networks

Description This account is credited forth amount recognized to reduce road
networks to its recoverable amount due to impairment. Debit this
account upon derecognition of the asset or reversal of impairment
loss.
64
Account Title Flood Control Systems
transfers without cost, of the seawalls, river walls and other flood
control system facilities for public user for income generating
purposes. Credit this account upon derecognition of the carrying
amount of the replaced portion.
Account Title Accumulated Depreciation-Flood Control Systems

Description This account is credited for the allocation of cost of flood control
systems in accordance with the prescribed policy on depreciation.
Debit this account upon derecognition of the asset.
Account Title Accumulated Impairment Losses-Flood Control Systems

Description This account is credited for the amount recognized to reduce flood
control systems to its recoverable amount due to impairment. Debit
this account upon derecognition of the asset and reversal of
impairment loss.
Account Title Sewer Systems

transfers without cost, of the waste treatment plants and other sewer
system facilities for public user for income generating purposes.
This also includes pumps, purification works, rising/gravity mains,
air release valves, screens, overflows and associated infrastructures.
Credit this account upon derecognition of the carrying amount of
the replaced portion.
Account Title Accumulated Depreciation-Sewer Systems

Description This account is credited for the allocation of cost of sewer systems
Account Title Accumulated Impairment Losses-Sewer Systems

Description This account is credited forth amount recognized to reduce sewer
systems to its recoverable amount due to impairment. Debit this
account upon derecognition of the asset and reversal of impairment
65
loss.
Account Title Water Supply Systems

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 account upon derecognition of the
asset.
Account Title Accumulated Depreciation-Water Supply Systems

Description This account is credited for the allocation of cost of water supply
Account Title Accumulated Impairment Losses-Water Supply Systems

Description This account is credited for the amount recognized to reduce water
supply systems to its recoverable amount due to impairment. Debit
impairment loss.
Account Title Power Supply Systems

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 account
for derecognition of the carrying amount of the replaced portion.
Account Title Accumulated Depreciation-Power Supply Systems

Description This account is credited for the allocation of cost of power supply
66
Account Title Accumulated Impairment Losses-Power Supply Systems
Description This account is credited for the amount recognized to reduce power
supply systems to its recoverable amount due to impairment. Debit
impairment loss.
Account Title Communication Networks

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 account for derecognition
of the carrying amount of the replaced portion.
Account Title Accumulated Depreciation-Communication Networks

Description This account is credited for the allocation of cost of communication
networks in accordance with the prescribed policy on depreciation.
Debit this account upon disposal or derecognition of the asset.
Account Title Accumulated Impairment Losses-Communication Networks

communication networks to its recoverable amount due to
impairment. Debit this account upon derecognition of the asset and
Account Title Seaport Systems

transfers without cost, of ports, lighthouses, harbors and other
seaport facilities, for public use or for income generating purposes.
Credit this account for derecognition of the carrying amount of the
replaced portion.
Account Title Accumulated Depreciation-Seaport Systems

Description This account is credited for the allocation of cost of seaport systems
67
Account Title Accumulated Impairment Losses-Seaport Systems
Description This account is credited for the amount recognized to reduce sea
transport systems to its recoverable amount due to impairment.
Debit this account upon derecognition of the asset and reversal of
impairment loss.
Account Title Airport Systems

transfers without cost, of landing and taking-off area for aircraft,
passengers’ arrival and departure areas, 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 account for
derecognition of the carrying amount of the replaced portion.
Account Title Accumulated Depreciation-Airport Systems

Description This account is credited for the allocation of cost of airport systems
Account Title Accumulated Impairment Losses-Airport Systems

Description This account is credited for the amount recognized to reduce airport
systems to its recoverable amount due to impairment. Debit this
loss.
Account Title Parks, Plazas and Monuments

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 account for derecognition of the
carrying amount of the replaced portion.
Account Title Accumulated Depreciation-Parks, Plazas and Monuments

Description This account is credited for the allocation of cost of parks, plazas
and monuments in accordance with the prescribed policy on
68
depreciation. Debit this account upon derecognition of the asset.
Account Title Accumulated Impairment Losses-Parks, Plazas and Monuments

Description This account is credited for the amount recognized to reduce parks,
plazas and monuments to its recoverable amount due to
impairment. Debit this account upon derecognition of the asset and
Account Title Railway Systems

construction or fair value, if acquired through donation or transfers
without cost, of railways, subways and other railway facilities such
as escalators, elevators, traffic lights and/or signages for public use
or for income generating purposes. Credit this account upon
derecognition of the carrying amount of the asset or the replaced
portion.
Account Title Accumulated Depreciation-Railway Systems

Description This account is credited for the allocation of cost of railway
Account Title Accumulated Impairment Losses-Railway Systems

railway systems to its recoverable amount due to impairment.
Debit this account upon derecognition of the asset or reversal of
impairment loss.
Account Title Plant-Utility Plant in Service (UPIS)

Description This account is used to recognize utility plant in service of water
districts.
Subsidiary Ledgers:
01 – Collecting and Impounding Reservoirs
02 – Lake, River, and Other Intakes
03 – Springs and Tunnels
04 – Wells
05 – Supply Mains
06 – Other Source of Supply Plant
07 – Other Pumping Plant
69
08 – Reservoirs and Tanks
09 – Transmission and Distribution Mains
10 – Fire Mains
11 – Service Connection
12 – Meters
13 – Meter Installation
14 – Hydrants
99 – Other Transmission and Distribution Mains
Account Title Accumulated Depreciation-Plant (UPIS)

Description This account is credited for the allocation of cost of plant (UPIS) in
accordance with the prescribed policy on depreciation. Debit this
account upon derecognition of the asset.
Account Title Accumulated Impairment Losses-Plant (UPIS)

Description This account is credited for the amount recognized to reduce plant
(UPIS) to its recoverable amount due to impairment. Debit this
loss.
Account Title Other Infrastructure Assets

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 account
upon derecognition of the carrying amount of the replaced portion.
Account Title Accumulated Depreciation-Other Infrastructure Assets

Description This account is credited for the allocation of cost of other
infrastructure assets in accordance with the prescribed policy on
depreciation. Debit this account upon derecognition of the asset.
Account Title Accumulated Impairment Losses-Other Infrastructure Assets

infrastructure assets to its recoverable amount due to impairment.
Debit this account upon derecognition of the asset and reversal of
impairment loss.
70
04 Buildings and Other Structures
Account Title Buildings

transfers without cost, of buildings, such as: office buildings,
research/convention/training centers, agricultural laboratories,
warehouses, cold storages and the like, for use in government
operations. Credit this account for disposal, derecognition of the
carrying amount of the replaced portion in major repair, or
reclassification to Investment Property account.
Account Title Accumulated Depreciation-Buildings

Description This account is credited for the allocation of cost of buildings in
account upon disposal or derecognition of the asset.
Account Title Accumulated Impairment Losses-Buildings

buildings to its recoverable amount due to impairment. Debit this
account upon disposal, derecognition of the asset, or reversal of
impairment.
Account Title School Buildings

transfers without cost, of school buildings for the implementation
of government’s education/learning programs. Credit this account
for disposal or derecognition of the carrying amount of the replaced
portion in major repair.
Account Title Accumulated Depreciation-School Buildings

Description This account is credited for the allocation of cost of school
buildings in accordance with the prescribed policy on depreciation.
71
Account Title Accumulated Impairment Losses-School Buildings
Description This account is credited for the amount recognized to reduce school
buildings to its recoverable amount due to impairment. Debit this
impairment.
Account Title Hospitals and Health Centers

transfers without cost, of hospitals and health centers, for use in the
delivery of public health services. Credit this account for disposal
or derecognition of the carrying amount of the replaced portion in
major repairs.
Account Title Accumulated Depreciation-Hospitals and Health Centers

Description This account is credited for the allocation of cost of hospitals and
health centers in accordance with the prescribed policy on
the asset.
Account Title Accumulated Impairment Losses-Hospitals and Health Centers

hospitals and health centers to its recoverable amount due to
impairment. Debit this account upon disposal, derecognition of the
asset, or reversal of impairment.
Account Title Markets

transfers without cost, of markets for income generation. Credit
this account for disposal or derecognition of the carrying amount of
the replaced portion in major repair.
Account Title Accumulated Depreciation-Markets

Description This account is credited for the allocation of cost of markets in
72
Account Title Accumulated Impairment Losses-Markets
markets to its recoverable amount due to impairment. Debit this
impairment.
Account Title Slaughterhouses

transfers without cost, of facilities where farm animals are
butchered and processed. Credit this account for disposal or
derecognition of the carrying amount of the replaced portion in
major repair.
Account Title Accumulated Depreciation-Slaughterhouses

Description This account is credited for the allocation of cost of
slaughterhouses in accordance with the prescribed policy on
the asset.
Account Title Accumulated Impairment Losses-Slaughterhouses

slaughterhouses to its recoverable amount due to impairment.
Debit this account upon disposal, derecognition of the asset, or
reversal of impairment.
Account Title Hostels and Dormitories

transfers without cost, of hostels and dormitories for commercial
and/or income generating purposes. Credit this account for
disposal or derecognition of the carrying amount of the replaced
portion in major repairs.
Account Title Accumulated Depreciation-Hostels and Dormitories

Description This account is credited for the allocation of cost of hostels and
dormitories in accordance with the prescribed policy on
73
the asset.
Account Title Accumulated Impairment Losses-Hostels and Dormitories

hostels and dormitories to its recoverable amount due to
Account Title Water Plant, Structure and Improvements

transfers without cost, of water plant, structure and improvements.
Credit this account for disposal or derecognition of the carrying
amount of the replaced portion in major repairs.
Subsidiary Ledgers:
01 – Source of Supply Plant Structures and Improvements
02 – Pumping Plant Structures and Improvements
03 – Water Treatment Structures and Improvement
04 – Transmission and Distribution Plant Structure and
Improvements
Account Title Accumulated Depreciation-Water Plant, Structure and

Improvements
Description This account is credited for the allocation of water plant, structure
and improvements in accordance with the prescribed policy on
the asset.
Account Title Accumulated Impairment Losses-Water Plant, Structure and

Improvements
Description This account is credited for the amount recognized to reduce water
plant, structure and improvements to its recoverable amount due to
Account Title Other Structures

transfers without cost, of other structures for use in government
74
operations or for income generating purposes. Credit this account
for disposal or derecognition of the carrying amount of the replaced
portion in major repairs.
Account Title Accumulated Depreciation-Other Structures

Description This account is credited for the allocation of cost of other structures
this account upon disposal or derecognition of the asset.
Account Title Accumulated Impairment Losses-Other Structures

structures to its recoverable amount due to impairment. Debit this
impairment.
05 Machinery and Equipment
Account Title Machinery

or assembly or fair value, if acquired through donation or transfers
without cost, of machinery. Credit this account for derecognition
of the carrying amount of the replaced parts in major repairs, or
disposal.
Account Title Accumulated Depreciation-Machinery

machinery in accordance with the prescribed policy on
the asset.
Account Title Accumulated Impairment Losses-Machinery

machinery to its recoverable amount due to impairment. Debit this
impairment.
75
Account Title Office Equipment
without cost, of office equipment for use in government operations.
It includes duplicating/photocopying machines, air conditioning
units and the like. Credit this account for disposal or derecognition
of the carrying amount of the replaced parts in major repairs.
Account Title Accumulated Depreciation-Office Equipment

Description This account is credited for the allocation of cost of office
equipment in accordance with the prescribed policy on
the asset.
Account Title Accumulated Impairment Losses-Office Equipment

Description This account is credited for the amount recognized to reduce office
equipment to its recoverable amount due to impairment. Debit this
impairment.
Account Title Information and Communication Technology Equipment

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 account for derecognition of the
carrying amount of the replaced parts in major repairs or disposal.
Account Title Accumulated Depreciation-Information and Communication

Technology Equipment
Description This account is credited for the allocation of cost of information
and communication technology equipment in accordance with the
76
Account Title Accumulated Impairment Losses-Information and Communication
Technology Equipment
information and communication technology equipment to their
disposal, derecognition of the asset or reversal of impairment.
Account Title Agricultural and Forestry Equipment

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 account for derecognition of the carrying amount
of the replaced parts in major repairs or disposal.
Account Title Accumulated Depreciation-Agricultural and Forestry Equipment

Description This account is credited for the allocation of cost of agricultural and
forestry equipment in accordance with the prescribed policy on
the asset.
Account Title Accumulated Impairment Losses-Agricultural and Forestry

Equipment
agricultural and forestry equipment to its recoverable amount due
to impairment. Debit this account upon disposal, derecognition of
the asset, or reversal of impairment.
Account Title Marine and Fishery Equipment

without cost, of marine and fishery equipment. Credit this account
for derecognition of the carrying amount of the replaced parts in
major repairs, or disposal.
77
Account Title Accumulated Depreciation-Marine and Fishery Equipment
Description This account is credited for the allocation of cost of marine and
fishery equipment in accordance with the prescribed policy on
the asset.
Account Title Accumulated Impairment Losses-Marine and Fishery Equipment

marine and fishery equipment to its recoverable amount due to
Account Title Airport Equipment

without cost, of airport equipment for use in government
operations. Credit this account for derecognition of the carrying
amount of the replaced parts in major repairs, or disposal.
Account Title Accumulated Depreciation-Airport Equipment

Description This account is credited for the allocation of cost of airport
the asset.
Account Title Accumulated Impairment Losses-Airport Equipment

Description This account is credited for the amount recognized to reduce airport
impairment.
Account Title Communication Equipment

without cost, of communication equipment for use in government
operations. Credit this account for derecognition of the carrying
amount of the replaced parts in major repairs, or disposal.
78
Account Title Accumulated Depreciation-Communication Equipment
Description This account is credited for the allocation of cost of communication
the asset.
Account Title Accumulated Impairment Losses-Communication Equipment

communication equipment to its recoverable amount due to
Account Title Construction and Heavy Equipment

of construction and heavy equipment for use in government
operations, such as: bulldozers, forklifts, graders, pay loaders,
dump trucks, and the like. Credit this account for derecognition of
the carrying amount of the replaced parts in major repairs, or
disposal.
Account Title Accumulated Depreciation-Construction and Heavy Equipment

Description This account is credited for the allocation of cost of construction
and heavy equipment in accordance with the prescribed policy on
the asset.
Account Title Accumulated Impairment Losses-Construction and Heavy

Equipment
construction and heavy equipment to its recoverable amount due to
Account Title Disaster Response and Rescue Equipment

or assembly, or fair value, if acquired through donation or transfers
without cost, of equipment used solely for disaster response and
79
rescue activities. Credit this account 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
Account Title Accumulated Depreciation-Disaster Response and Rescue

Equipment
Description This account is credited for the allocation of cost of disaster
response and rescue equipment in accordance with the prescribed
policy on depreciation. Debit this account upon disposal or
Account Title Accumulated Impairment Losses-Disaster Response and Rescue

Equipment
disaster response and rescue equipment to its recoverable amount
due to impairment. Debit this account upon disposal, derecognition
of the asset, or reversal of impairment.
Account Title Military, Police and Security Equipment

of military, police and security equipment acquired for use in
government operations, such as: guns, armored vehicles, bomber
aircrafts, military tanks, mobile cars, patrol boats, navy ships,
closed circuit televisions, security cameras, etc. Credit this account
for derecognition of the carrying amount of the replaced parts in
major repairs, or disposal.
Account Title Accumulated Depreciation-Military, Police and Security

Equipment
Description This account is credited for the allocation of cost of military, police
and security equipment in accordance with the prescribed policy on
the asset.
80
Account Title Accumulated Impairment Losses-Military, Police and Security
Equipment
military, police and security equipment to its recoverable amount
Account Title Medical Equipment

or fair value if acquired through donation or transfers without cost
of medical equipment acquired for delivery of medical services,
such as: diagnostic equipment, (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 support (i.e. ventilators, dialysis, etc.), monitors
(electrocardiographs, electroencephalographs, stethoscopes,
sphygmomanometers, etc.). It also includes hospital beds, medicine
trolleys, medical furniture, (stretchers, wheelchairs), mobile clinics;
and other hospital, dental and laboratory equipment. Credit this
account for derecognition of the carrying amount of the replaced
parts in major repairs, or disposal.
Account Title Accumulated Depreciation-Medical Equipment

Description This account is credited for the allocation of cost of medical
the asset.
Account Title Accumulated Impairment Losses-Medical Equipment

medical equipment to its recoverable amount due to impairment.
Account Title Printing Equipment

of large printing equipment, such as offset press, letter press,
bindery equipment, prepress machines, and the like, for use in
government printing needs. Credit this account for derecognition
81
disposal.
Account Title Accumulated Depreciation-Printing Equipment

Description This account is credited for the allocation of cost of printing
the asset.
Account Title Accumulated Impairment Losses-Printing Equipment

printing equipment to its recoverable amount due to impairment.
Account Title Sports Equipment

without cost, of sports equipment for use in the government’s
promotion of sports, such as: treadmills, stationary bikes, weights,
gymnastic facilities, boxing rings, basketball goals, and the like.
replaced parts in major repairs, or disposal.
Account Title Accumulated Depreciation-Sports Equipment

Description This account is credited for the allocation of cost of sports
the asset.
Account Title Accumulated Impairment Losses-Sports Equipment

Description This account is credited for the amount recognized to reduce sports
impairment.
82
Account Title Technical and Scientific Equipment
without cost, of technical and scientific equipment for use in
government operations, such as survey equipment (telescopes, laser
distance meters), weather tracking equipment, cartographic,
photographic and reprographic equipment, and other specialized
equipment, (i.e. musical instrument), and the like. Credit this
Account Title Accumulated Depreciation-Technical and Scientific Equipment

Description This account is credited for the allocation of cost of technical and
scientific equipment in accordance with the prescribed policy on
the asset
Account Title Accumulated Impairment Losses-Technical and Scientific

Equipment
technical and scientific equipment to its recoverable amount due to
Account Title Gaming Equipment

Description This account is used to recognize the cost of acquisition or
assembly, or fair value, if acquired through donation or transfers
without cost, of equipment used for lottery and gaming activities
acquired for revenue generation. Credit this account for disposal
(sale, transfers, destruction) and adjustments.
Account Title Accumulated Depreciation-Gaming Equipment

Description This account is credited for the allocation of cost of gaming
the asset.
83
Account Title Accumulated Impairment Losses-Gaming Equipment
gaming equipment to its recoverable amount due to impairment.
Account Title Other Equipment

without cost, of other equipment, not otherwise classified under the
specific equipment accounts. Credit this account for derecognition
disposal.
Account Title Accumulated Depreciation-Other Equipment

the asset.
Account Title Accumulated Impairment Losses-Other Equipment

impairment.
06 Transportation Equipment
Account Title Motor Vehicles

without cost, of motor vehicles for official use such as service
vehicles (armored vehicles, cars, buses, vans, motorcycles, and the
like). Credit this account for derecognition of the carrying amount
of the replaced parts in major repairs, or disposal.
84
Account Title Accumulated Depreciation-Motor Vehicles
Description This account is credited for the allocation of cost of motor vehicles
this account upon disposal or derecognition of the asset.
Account Title Accumulated Impairment Losses-Motor Vehicles

Description This account is credited for the amount recognized to reduce motor
vehicles to its recoverable amount due to impairment. Debit this
impairment.
Account Title Trains

of trains for public use. Credit this account for derecognition of the
carrying amount of the replaced parts in major repairs, or disposal.
Account Title Accumulated Depreciation-Trains

Description This account is credited for the allocation of cost of trains in
Account Title Accumulated Impairment Losses-Trains

Description This account is credited for the amount recognized to reduce trains
upon disposal, derecognition of the asset, or reversal of impairment.
Account Title Aircrafts and Aircrafts Ground Equipment

of aircrafts and aircrafts ground equipment for civil aviation to
transport passengers, equipment and goods. Credit this account for
derecognition of the carrying amount of the replaced parts in major
repairs, or disposal.
85
Account Title Accumulated Depreciation-Aircrafts and Aircrafts Ground
Equipment
Description This account is credited for the allocation of cost of aircrafts and
aircrafts ground equipment in accordance with the prescribed
Account Title Accumulated Impairment Losses-Aircrafts and Aircrafts Ground

Equipment
aircrafts and aircrafts ground equipment to its recoverable amount
Account Title Watercrafts

without cost, of watercrafts used to ferry passengers, equipment
and goods for government operations or public use such as ships,
small vessels, speedboats, motor boats, rafts and bancas. Credit
this account for disposal or derecognition of the carrying amount of
the replaced parts in major repairs.
Account Title Accumulated Depreciation-Watercrafts

Description This account is credited for the allocation of cost of watercrafts in
Account Title Accumulated Impairment Losses-Watercrafts

watercrafts to its recoverable amount due to impairment. Debit this
impairment.
Account Title Other Transportation Equipment

or assembly, or fair value, if acquired through donation or transfers
without cost, of other transportation equipment which are not
86
classified under the specific transportation equipment accounts.
replaced parts in major repairs, or disposal.
Account Title Accumulated Depreciation-Other Transportation Equipment

transportation equipment in accordance with the prescribed policy
on depreciation. Debit this account upon disposal or derecognition
of the asset.
Account Title Accumulated Impairment Losses-Other Transportation Equipment

transportation equipment to its recoverable amount due to
07 Furniture, Fixtures and Books
Account Title Furniture and Fixtures

assembly, or fair value, if acquired through donation or transfers
without cost, of furniture and fixtures for use in government
operations. Credit this account for disposal (sale, transfers,
destruction) and adjustments.
Account Title Accumulated Depreciation-Furniture and Fixtures

Description This account is credited for the allocation of cost of furniture and
fixtures in accordance with the prescribed policy on depreciation.
Account Title Accumulated Impairment Losses-Furniture and Fixtures

furniture and fixtures to its recoverable amount due to impairment.
87
Account Title Books
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 account for disposal (sale, transfers,
destruction) and adjustments.
Account Title Accumulated Depreciation-Books

Description This account is credited for the allocation of cost of books in
Account Title Accumulated Impairment Losses-Books

Description This account is credited for the amount recognized to reduce books
upon disposal, derecognition of the asset, or reversal of impairment.
08 Leased Assets
Account Title Leased Assets, Land

Description This account is used to recognize the value of land under a finance
lease. Credit this account to reclassify to the land account upon full
payment of lease or to close the account upon termination of the
lease contract.
Account Title Accumulated Impairment Losses-Leased Assets, Land

Description This account is credited for the amount recognized to reduce to its
recoverable amount the value of land under a finance lease due to
Account Title Leased Assets, Buildings and Other Structures

Description This account is used to recognize the value of buildings and other
structures under a finance lease. Credit this account to reclassify to
the buildings and other structures account upon full payment of
lease or to close the account upon termination of the lease contract.
88
Account Title Accumulated Depreciation-Leased Assets, Buildings and Other
Structures
Description This account is credited for the allocation of cost of buildings and
other structures under a finance lease in accordance with the
Account Title Accumulated Impairment Losses-Leased Assets, Buildings and

Other Structures
recoverable amount the value of buildings and other structures
under a finance lease due to impairment. Debit this account upon
disposal, derecognition of the asset, or reversal of impairment.
Account Title Leased Assets, Machinery and Equipment

Description This account is used to recognize the value of machinery and
equipment under a finance lease. Credit this account to reclassify
to the machinery and equipment account upon full payment of lease
or to close the account upon termination of the lease contract
Account Title Accumulated Depreciation-Leased Assets, Machinery and

Equipment
Description This account is credited for the allocation of cost of machinery and
equipment under a finance lease in accordance with the prescribed
Account Title Accumulated Impairment Losses-Leased Assets, Machinery and

Equipment
recoverable amount the value of machinery and equipment under a
finance lease due to impairment. Debit this account upon disposal,
derecognition of the asset, or reversal of impairment.
Account Title Leased Assets, Transportation Equipment

Description This account is used to recognize the value of transportation
equipment under a finance lease. Credit this account to reclassify
to the transportation equipment account upon full payment of lease
89
or to close the account upon termination of the lease contract.
Account Title Accumulated Depreciation-Leased Assets, Transportation

Equipment
Description This account is credited for the allocation of cost of transportation
equipment under a finance lease in accordance with the prescribed
Account Title Accumulated Impairment Losses-Leased Assets, Transportation

Equipment
recoverable amount the value of transportation equipment under a
Account Title Leased Assets, Furniture and Fixtures

Description This account is used to recognize the value of furniture and fixtures
under a finance lease. Credit this account to reclassify to the
furniture and fixtures account upon full payment of lease or to close
the account upon termination of the lease contract.
Account Title Accumulated Depreciation-Leased Assets, Furniture and Fixtures

Description This account is credited for the allocation of cost of furniture and
fixtures under a finance lease in accordance with the prescribed
Account Title Accumulated Impairment Losses-Leased Assets, Furniture and

Fixtures
recoverable amount the value of furniture and fixtures under a
90
Account Title Other Leased Assets
Description This account is used to recognize the value of other leased assets
under a finance lease. Credit this account to reclassify to the
appropriate Property, Plant and Equipment account upon full
payment of lease or to close the account upon termination of the
lease contract.
Account Title Accumulated Depreciation-Other Leased Assets

Description This account is credited for the allocation of cost of other leased
assets in accordance with the prescribed policy on depreciation.
Account Title Accumulated Impairment Losses-Other Leased Assets

recoverable amount the value other assets under a finance lease due
09 Leased Assets Improvements
Account Title Leased Assets Improvements, Land

Description This account is used to recognize the cost of improvements and
alterations made on land under operating lease which is used for
government operations or for commercial and/or income generating
purposes. Credit this account for derecognition of the carrying
amount of the replaced portion in major repairs, disposal or
termination of lease contract.
Account Title Accumulated Depreciation-Leased Assets Improvements, Land

Description This account is credited for the allocation of cost of leasehold
improvements on land under operating lease in accordance with the
Account Title Accumulated Impairment Losses-Leased Assets Improvements,

Land
recoverable amount the value of improvements on land under an
91
operating lease due to impairment. Debit this account upon
Account Title Leased Assets Improvements, Buildings

construction of improvements on buildings under an operating lease
for use in government operations or for commercial and/or income
generating purposes. Credit this account for derecognition of the
carrying amount of the replaced portion in major repairs, disposal
or termination of lease contract.
Account Title Accumulated Depreciation-Leased Assets Improvements, Buildings

Description This account is credited for the allocation of cost of improvements
on buildings under an operating lease in accordance with the
Account Title Accumulated Impairment Losses-Leased Assets Improvements,

Buildings
recoverable amount the value of improvements on buildings under
an operating lease due to impairment. Debit this account upon
Account Title Other Leased Assets Improvements

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 account for
major repairs, disposal or termination of lease contract.
Account Title Accumulated Depreciation-Other Leased Assets Improvements

improvements on other assets/structures under operating lease in
92
Account Title Accumulated Impairment Losses-Other Leased Assets
Improvements
recoverable amount the value of improvements on other
assets/structures under an operating lease due to impairment. Debit
this account upon disposal, derecognition of the asset, or reversal of
impairment.
10 Heritage Assets
Account Title Historical Buildings

Description This account is used to recognize the carrying amount of buildings
such as museums, old churches, cathedrals and mosques no longer
used for worship held and preserved by the government for their
cultural and historical significance. Credit this account for transfer
to other entity or other disposal.
Account Title Accumulated Depreciation-Historical Buildings

Description This account is credited for the allocation of cost of historical
buildings in accordance with the prescribed policy on depreciation.
Account Title Accumulated Impairment Losses-Historical Buildings

historical buildings to their recoverable amount due to impairment.
Account Title Works of Arts and Archeological Specimens

Description This account is used to recognize the carrying amount/acquisition
cost or fair value, if acquired through donation or transfers without
cost, of works of arts and archeological specimens held by an entity
for their cultural or historical significance. Included in this account
are monuments and memorials erected to commemorate persons or
events, sculptures, archeological sites, and other works of arts.
Credit this account for transfer to other entity or other disposal.
93
Account Title Accumulated Depreciation-Works of Arts and Archeological
Specimens
Description This account is credited for the allocation of cost of works of arts
and archeological specimens in accordance with the prescribed
Account Title Accumulated Impairment Losses-Works of Arts and Archeological

Specimens
Description This account is credited for the amount recognized to reduce works
of arts and archeological specimens to their recoverable amount
Account Title Other Heritage Assets

Description This account is used to recognize the carrying amount/acquisition
cost or fair value, if acquired through donation or transfers without
cost, of other heritage assets not otherwise classified under the
specific heritage assets accounts. This includes environmental
conservation areas and nature reserves, natural landmarks of
historical interest, areas of land based on or concerned with events
in history, and track of lands declared as public property by the
National Government with a view to its preservation and
development for purposes of recreation and culture. Credit this
account for transfer to other entity or other disposal.
Account Title Accumulated Depreciation-Other Heritage Assets

Description This account is credited for the allocation of cost of other heritage
Account Title Accumulated Impairment Losses-Other Heritage Assets

heritage assets to their recoverable amount due to impairment.
94
11 Service Concession-Tangible Assets
Account Title Service Concession-Road Networks

Description This account is used to recognize the cost or fair value of road
networks recognized as a result of service concession
arrangements. Credit this account upon derecognition of the
Account Title Accumulated Depreciation-Service Concession-Road Networks

Description This account is credited for the allocation of cost of service
concession-road networks in accordance with the prescribed policy
on depreciation. Debit this account upon derecognition of the asset.
Account Title Accumulated Impairment Losses-Service Concession-Road

Networks
service concession-road networks to its recoverable amount due to
impairment. Debit this account upon derecognition of the asset or
Account Title Service Concession-Flood Control Systems

Description This account is used to recognize the cost of flood control systems
recognized as a result of service concession arrangements. Credit
this account upon derecognition of the carrying amount of the
replaced portion.
Account Title Accumulated Depreciation-Service Concession-Flood Control

Systems
concession-flood control systems in accordance with the prescribed
policy on depreciation. Debit this account upon derecognition of
asset.
Account Title Accumulated Impairment Losses-Service Concession-Flood

Control Systems
service concession-flood control systems to its recoverable amount
due to impairment. Debit this account upon derecognition of the
95
asset or reversal of impairment loss.
Account Title Service Concession-Sewer Systems

Description This account is used to recognize the cost of sewer systems
recognized as a result of service concession arrangement. Credit
replaced portion or whole of asset.
Account Title Accumulated Depreciation-Service Concession-Sewer Systems

Description This account is credited for the allocation of service concession-
sewer systems in accordance with the prescribed policy on
depreciation. Debit this account upon derecognition of asset.
Account Title Accumulated Impairment Losses-Service Concession-Sewer

Systems
service concession-sewer systems to its recoverable amount due to
impairment. Debit this account upon derecognition of the asset or
Account Title Service Concession-Water Supply Systems

Description This account is used to recognize the cost of water supply systems
Account Title Accumulated Depreciation-Service Concession-Water Supply

Systems
water supply systems in accordance with the prescribed policy on
Account Title Accumulated Impairment Losses-Service Concession-Water

Supply Systems
service concession-water supply systems to its recoverable amount
due to impairment. Debit this account upon derecognition of asset
or reversal of impairment loss.
96
Account Title Service Concession-Power Supply Systems
Description This account is used to recognize the cost of power supply systems
Account Title Accumulated Depreciation-Service Concession-Power Supply

Systems
power supply systems in accordance with the prescribed policy on
Account Title Accumulated Impairment Losses-Service Concession-Power

Supply Systems
service concession-power supply systems to its recoverable amount
due to impairment. Debit this account upon derecognition of asset
or reversal of impairment loss.
Account Title Service Concession-Communication Networks

Description This account is used to recognize the cost of communication
networks recognized as a result of service concession
carrying amount of the replaced portion or whole of asset.
Account Title Accumulated Depreciation-Service Concession-Communication

Networks
communication networks in accordance with the prescribed policy
on depreciation. Debit this account upon derecognition of asset.
Account Title Accumulated Impairment Losses-Service Concession-

Communication Networks
service concession-communication networks to its recoverable
amount due to impairment. Debit this account upon derecognition
of asset or reversal of impairment loss.
97
Account Title Service Concession-Seaport Systems
Description This account is used to recognize the cost of seaport systems
Account Title Accumulated Depreciation-Service Concession-Seaport Systems

seaport systems in accordance with the prescribed policy on
depreciation. Debit his account upon derecognition of asset.
Account Title Accumulated Impairment Losses-Service Concession-Seaport

Systems
service concession-seaport systems to its recoverable amount due to
impairment. Debit this account upon derecognition of asset or
Account Title Service Concession-Airport Systems

Description This account is used to recognize the cost of airport systems
Account Title Accumulated Depreciation-Service Concession-Airport Systems

airport systems in accordance with the prescribed policy on
Account Title Accumulated Impairment Losses-Service Concession-Airport

Systems
service concession-airport systems to its recoverable amount due to
98
Account Title Service Concession-Parks, Plazas and Monuments
Description This account is used to recognize the cost of parks, plazas and
monuments recognized as a result of service concession
Account Title Accumulated Depreciation-Service Concession-Parks, Plazas and

Monuments
parks, plazas and monuments in accordance with the prescribed
asset.
Account Title Accumulated Impairment Losses-Service Concession-Parks, Plazas

and Monuments
service concession-parks, plazas and monuments to its recoverable
Account Title Service Concession-Railway Systems

Description This account is used to recognize the cost of railway systems such
as railways, subways and other railway facilities like escalators,
elevators, traffic lights and/or signages, acquired through service
concession arrangements. Credit this account upon derecognition
of the carrying amount of the asset or the replaced portion.
Account Title Accumulated Depreciation-Service Concession-Railway Systems

concession-railway systems in accordance with the prescribed
the asset.
Account Title Accumulated Impairment Losses-Service Concession-Railway

Systems
service concession-railway systems to its recoverable amount due
to impairment. Debit this account upon derecognition of the asset
99
or reversal of impairment.
Account Title Service Concession-Buildings and Other Structures

Description This account is used to recognize the cost of buildings and other
structures recognized as a result of service concession
Account Title Accumulated Depreciation-Service Concession-Buildings and

Other Structures
buildings and other structures in accordance with the prescribed
asset.
Account Title Accumulated Impairment Losses-Service Concession-Buildings

and Other Structures
service concession-buildings and other structures to its recoverable
Account Title Service Concession-Machinery and Equipment

Description This account is used to recognize the cost of machinery and
equipment recognized as a result of service concession
Account Title Accumulated Depreciation-Service Concession-Machinery and

Equipment
machinery and equipment in accordance with the prescribed policy
100
Account Title Accumulated Impairment Losses-Service Concession-Machinery
and Equipment
service concession-machinery and equipment to its recoverable
Account Title Service Concession-Transportation Equipment

Description This account is used to recognize the cost of transportation
equipment recognized as a result of service concession
Account Title Accumulated Depreciation-Service Concession-Transportation

Equipment
transportation equipment in accordance with the prescribed policy
Account Title Accumulated Impairment Losses-Service Concession-

Transportation Equipment
service concession-transportation equipment to its recoverable
Account Title Service Concession-Furniture, Fixtures and Books

Description This account is used to recognize the cost of furniture, fixtures and
books recognized as a result of service concession arrangements.
Credit this account upon derecognition of the carrying amount of
the replaced portion or whole of asset.
Account Title Accumulated Depreciation-Service Concession-Furniture, Fixtures

and Books
furniture, fixtures and books in accordance with the prescribed
101
asset.
Account Title Accumulated Impairment Losses-Service Concession-Furniture,

Fixtures and Books
service concession-furniture, fixtures and books to its recoverable
Account Title Service Concession-Land

Description This account is used to recognize the cost of land recognized as a
result of service concession arrangements. Credit this account upon
Account Title Accumulated Impairment Losses-Service Concession-Land

service concession-land to its recoverable amount due to
Account Title Other Service Concession Assets

Description This account is used to recognize the cost of other service
concession assets recognized as a result of service concession
Account Title Accumulated Depreciation-Other Service Concession Assets

Description This account is credited for the allocation of other service
concession assets in accordance with the prescribed policy on
Account Title Accumulated Impairment Losses-Other Service Concession Assets

service concession assets to its recoverable amount due to
102
12 Exploration and Evaluation Assets
Account Title Underground Tunnel

or fair value, if acquired through donation or transfers without
cost of mining tunnel for use in the exploration for and evaluation
of mineral resources. Credit this account for disposal or
major repairs.
Account Title Accumulated Depreciation-Underground Tunnel

Description This account is credited for the allocation of cost of underground
tunnel in accordance with the prescribed policy on depreciation.
Account Title Accumulated Impairment Losses-Underground Tunnel

underground tunnel to its recoverable amount due to impairment.
Account Title Mining Equipment

or fair value, if acquired through donation or transfers without cost
of mining equipment used for exploratory drilling, trenching,
sampling and other activities in relation to evaluating the technical
feasibility and commercial viability of extracting mineral resources.
Account Title Accumulated Depreciation-Mining Equipment

Description This account is credited for the allocation of cost of mining
the asset.
Account Title Accumulated Impairment Losses-Mining Equipment

mining equipment to its recoverable amount due to impairment.
103
Account Title Other Exploration and Evaluation Assets

or fair value, if acquired through donation or transfers without cost
of exploration and evaluation assets other than tunnel and mining
equipment.
Account Title Accumulated Depreciation-Other Exploration and Evaluation

Assets
exploration and evaluation assets in accordance with the prescribed
Account Title Accumulated Impairment Losses-Other Exploration and Evaluation

Assets
exploration and evaluation assets to its recoverable amount due to
13 Bearer Trees, Plants and Crops
Account Title Bearer Trees, Plants and Crops

or fair value, if acquired through donation or transfers without
cost of bearer trees, plants and crops. Credit this account for
disposal or derecognition of the asset, or reversal of impairment.
Account Title Accumulated Impairment Losses-Bearer Trees, Plants and Crops

Description This account is credited for the amount recognized to reduce bearer
trees, plants and crops to its recoverable amount due to impairment.
104
98 Other Property, Plant and Equipment
Account Title Work/Zoo Animals

Description This account is used to recognize the cost or fair value, if acquired
through donation or transfers without cost, of animals acquired by
an entity for work, entertainment and recreation. This includes
animals used in military and police operations, animals in farms,
fields, zoos, wildlife sanctuaries, aviaries, aquariums, and the like.
Credit this account for transfer to other entity, other disposal or loss
due to death or other causes.
Account Title Accumulated Depreciation-Work/Zoo Animals

Description This account is credited for the allocation of cost of work/zoo
animals in accordance with the prescribed policy on depreciation.
Account Title Accumulated Impairment Losses-Work/Zoo Animals

work/zoo animals to its recoverable amount due to impairment.
Account Title Other Property, Plant and Equipment

Description This account is used to recognize 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 account. Credit this
Account Title Accumulated Depreciation-Other Property, Plant and Equipment

Description This account is credited for the allocation of cost of other property,
plant and equipment in accordance with the prescribed policy on
the asset.
105
Account Title Accumulated Impairment Losses-Other Property, Plant and
Equipment
property, plant and equipment to its recoverable amount due to
99 Construction in Progress
Account Title Construction in Progress-Land Improvements

appropriate value of land improvements which are still in the
process of construction or acquisition. Credit this account for
reclassification to the appropriate Land Improvements account
upon completion.
Account Title Construction in Progress-Infrastructure Assets

appropriate value of infrastructure assets which are still in the
process of construction or acquisition. Credit this account for
reclassification to the appropriate Infrastructure Assets account
upon completion.
Account Title Construction in Progress-Buildings and Other Structures

appropriate value of buildings and other structures which are still in
the process of construction or development. Credit this account for
reclassification to the appropriate Buildings and Other Structures
account upon completion.
Account Title Construction in Progress-Leased Assets

appropriate value of assets under finance lease, still in the process
of construction or development. Credit this account for
reclassification to the appropriate Leased Assets account upon
completion.
106
Account Title Construction in Progress-Leased Assets Improvements
appropriate value of improvements on assets under an operating
lease, still in the process of construction or development. Credit
this account for reclassification to the appropriate Leased Assets,
Improvements account upon completion.
Account Title Construction in Progress-Furniture and Fixtures

Description This account is used to recognize the cost or accumulated value of
furniture and fixtures which are still in the process of construction
or development. Credit this account for reclassification to the
appropriate Furniture and Fixtures account upon completion.
07 Biological Assets
01 Bearer Biological Assets
Account Title Breeding Stocks

Description This account is used to recognize the cost, or fair value, if acquired
through donation or transfers without cost, of breeding stocks such
as cattle, horse, swine, and the like, including offsprings, if
intended as bearers, and until the point of harvest, if intended for
sale/distribution/consumption. Credit this account for transfers to
appropriate inventory accounts, loss or death.
Account Title Accumulated Impairment Losses-Breeding Stocks

breeding stocks to its recoverable amount due to impairment. Debit
impairment. This account is used by entities adopting the cost
model in case fair value cannot be measured reliably.
Account Title Accumulated Depreciation-Breeding Stocks

Description This account is credited for the allocation of cost of breeding stocks
this account upon disposal or derecognition of the asset. This
account is used by entities adopting the cost model. This account is
used by entities adopting the cost model in case fair value cannot be
measured reliably.
107
Account Title Livestock
through donation or transfers without cost, of livestock from which
milk is produced, sheep and other animals used for wool production
and the like. Credit this account for transfers to appropriate
inventory accounts, loss or death.
Account Title Accumulated Impairment Losses-Livestock

livestock to its recoverable amount due to impairment. Debit this
impairment. This account is used by entities adopting the cost
model in case fair value cannot be measured reliably.
Account Title Accumulated Depreciation-Livestock

Description This account is credited for the allocation of cost of livestock in
account upon disposal or derecognition of the asset. This account is
measured reliably.
Account Title Trees, Plants and Crops

through donation or transfers without cost, of trees for forestry,
bearer plants and, annual or perennial cropping, cultivating
orchards and plantations and floriculture if intended as bearers, and
until the point of harvest, if intended for
sale/distribution/consumption intended for future
sale/distribution/consumption. Credit this account upon disposal or
Account Title Accumulated Impairment Losses-Trees, Plants and Crops

Description This account is credited for the amount recognized to reduce trees,
plants and crops to its recoverable amount due to impairment.
reversal of impairment. This account is used by entities adopting
cost model in case the fair value cannot be measured reliably.
108
Account Title Accumulated Depreciation-Trees, Plants and Crops
Description This account is credited for the allocation of cost of trees, plants
and crops in accordance with the prescribed policy on depreciation.
Debit this account upon disposal or derecognition of the asset. This
account is used by entities adopting the cost model in case fair
value cannot be measured reliably.
Account Title Aquaculture

through donation or transfers without cost, of fishes and other
marine species intended for future sale/distribution/consumption.
Credit this account upon disposal or derecognition of the asset.
Account Title Accumulated Impairment Losses-Aquaculture

aquaculture to its recoverable amount due to impairment. Debit
impairment.
Account Title Accumulated Depreciation-Aquaculture

Description This account is credited for the allocation of cost of aquaculture in
account upon disposal or derecognition of the asset. This account is
measured reliably.
Account Title Other Bearer Biological Assets

through donation or transfers without cost, of other bearer
biological assets. Credit this account upon disposal or
Account Title Accumulated Impairment Losses-Other Bearer Biological Assets

bearer biological assets to its recoverable amount due to
asset, or reversal of impairment. This account is used by entities
adopting the cost model in case fair value cannot be measured
109
reliably.
Account Title Accumulated Depreciation-Other Bearer Biological Assets

Description This account is credited for the allocation of cost of other biological
Debit this account upon disposal or derecognition of the asset. This
account is used by entities adopting the cost model in case fair
value cannot be measured reliably.
02 Consumable Biological Assets
Account Title Livestock Held for Consumption/Sale/Distribution

through donation or transfers without cost or for a nominal cost, of
livestock held for consumption/sale/distribution. Credit this
account for sale, loss or death or upon consumption or distribution.
Account Title Accumulated Impairment Losses-Livestock Held for

Consumption/Sale/Distribution
livestock held for consumption/sale/distribution to its recoverable
amount due to impairment. Debit this account upon disposal,
Account Title Trees, Plants and Crops Held for Consumption/Sale/Distribution

trees, plants and crops held for consumption/sale/distribution.
Credit this account for sale, loss or death or upon consumption or
distribution.
Account Title Accumulated Impairment Losses-Trees, Plants and Crops Held for
Description This account is credited for the amount recognized to reduce trees,
plants and crops held for consumption/ sale/distribution to its
110
Account Title Agricultural Produce Held for Consumption/Sale/Distribution
agricultural produce held for consumption/sale/distribution.
Credit this account for transfer to appropriate inventory account
depending on the intention (for sale, distribution or consumption),
loss or death.
Account Title Accumulated Impairment Losses-Agricultural Produce Held for

agricultural produce held for consumption/sale/distribution to its
Account Title Aquaculture Held for Consumption/Sale/Distribution

fishes and other marine species held for
consumption/sale/distribution. Credit this account for sale, loss or
death or upon consumption or distribution.
Account Title Accumulated Impairment Losses-Aquaculture Held for

Description This account is credited for the amount recognized to reduce the
value of fishes and other marine species held for consumption/
sale/distribution to its recoverable amount due to impairment.
Account Title Other Consumable Biological Assets

through donation or transfers without cost, of other consumable
biological assets. Credit this account upon disposal or
111
Account Title Accumulated Impairment Losses-Other Consumable Biological
Assets
value of other biological assets held for
consumption/sale/distribution to its recoverable amount due to
08 Intangible Assets
01 Intangible Assets
Account Title Patents/Copyrights

Description This account is used to recognize 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
account for disposal, expiration and/or revocation of the
patent/copyright.
Account Title Accumulated Amortization-Patents/Copyrights

Description This account is credited for the allocation of cost of
patents/copyrights in accordance with the prescribed policy on
amortization. Debit this account upon disposal, expiration and/or
revocation of the patent/copyright.
Account Title Accumulated Impairment Losses-Patents/Copyrights

value of the patents/copyrights to its recoverable amount or
recoverable service amount to its recoverable amount due to
impairment. Debit this account upon disposal, expiration,
revocation of the patent/copyright and/or reversal of impairment.
Account Title Computer Software

Description This account is used to recognize the purchase cost or capitalized
development cost of computer software programs for use in
government operation. Development costs include cost of coding,
testing and cost to produce product masters. Credit this account
for obsolescence, transfers or other disposal.
112
Account Title Accumulated Amortization-Computer Software
Description This account is credited for the allocation cost of computer
software in accordance with the prescribed policy on amortization.
Debit this account for obsolescence of the computer software,
transfers or other disposal.
Account Title Accumulated Impairment Losses-Computer Software

value of computer software to its recoverable amount or
recoverable service amount due to impairment. Debit this account
upon obsolescence of the computer software, transfers or other
disposal and/or reversal of impairment.
Account Title Websites

Description This account is used to recognize the cost of completed website.
Credit this account for obsolescence, transfers or other disposal.
Account Title Accumulated Amortization-Websites

Description This account is credited for the allocation of websites costs in
accordance with the prescribed policy on amortization. Debit this
account upon transfers or other disposal.
Account Title Accumulated Impairment Losses-Websites

value of the website to its recoverable amount or recoverable
service amount due to impairment. Debit this account upon
obsolescence of the website, disposal and/or reversal of
impairment.
Account Title Goodwill

Description This account is used to recognize the excess of amount paid over
the fair value of the net identifiable assets acquired.
113
Account Title Accumulated Impairment Losses-Goodwill
Description This account is used to recognize the amount recognized to reduce
the cost/amortized cost/fair value of goodwill due to impairment.
Debit this account upon derecognition, transfers, reversal of
Account Title Other Intangible Assets

Description This account is used to recognize 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 asset
accounts. This includes trademarks, motion picture films,
marketing rights, franchises and the like. Credit this account for
termination and/or revocation of rights and benefits, transfers or
other disposal.
Account Title Accumulated Amortization-Other Intangible Assets

intangible assets in accordance with the prescribed policy on
amortization. Debit this account upon termination and/or
revocation of rights and benefits, transfers or other disposal.
Account Title Accumulated Impairment Losses-Other Intangible Assets

value of other intangible assets to its recoverable amount or
recoverable service amount due to impairment. Debit this
account upon disposal, and/or reversal of impairment.
02 Service Concession-Intangible Assets
Account Title Service Concession-Intangible Assets

Description This account is used to recognize cost of intangible assets under
service concession arrangements. Credit this account for
obsolescence, transfers or other disposal.
Account Title Accumulated Amortization-Service Concession-Intangible Assets

concession-intangible assets in accordance with the prescribed
114
policy on amortization. Debit this account upon termination and/or
revocation of rights and benefits, transfers or other disposal.
Account Title Accumulated Impairment Losses-Service Concession-Intangible

Assets
value of service concession-intangible assets to its recoverable
amount or recoverable service amount due to impairment. Debit
this account upon disposal, and/or reversal of impairment.
99 Development in Progress
Account Title Development in Progress-Patents/Copyrights

Description This account is used to recognize the cost of product design
development. Credit this account upon completion and transfer to
the “Patents/Copyrights” account, and when the asset is impaired.
Account Title Development in Progress-Computer Software

Description This account is used to recognize the cost of coding, testing and
other costs incurred during the development of computer software.
Credit this account upon completion and transfer to “Computer
Software” account, and when the asset is impaired.
Account Title Development in Progress-Websites

Description This account is used to recognize website development cost
incurred during application and infrastructure development,
graphical design and content development stages. Credit this
account upon completion and transfer to the “Websites” account,
and when the asset is impaired
Account Title Development in Progress-Other Intangible Assets

Description This account is used to recognize the cost incurred during
development phases of intangible asset not otherwise classified
under the specific intangible asset accounts. Credit this account
upon completion and transfer to the appropriate intangible asset
account, and when the asset is impaired.
115
09 International Reserves
01 International Reserves
Account Title Due from Foreign Banks-Demand Deposits

Description This account is used to recognize the foreign currency deposits of
the BSP with foreign banks, which are considered to be the most
liquid among the international assets since they are already in the
form of cash and may be withdrawn without restrictions.
Account Title Foreign Currency on Hand

Description This account is used to recognize the amount of checks and other
cash items received, denominated in foreign currency, and are
limited to foreign currencies acceptable to form part of the
international reserves.
Account Title Foreign Currency in Transit

Description This account is used to recognize foreign currency notes and coins
shipped to foreign depository banks from Cash Department and
BSP Regional Offices/Units.
Account Title Foreign Investments

Description This account is used to recognize the: a) foreign securities
holdings of BSP including bonds, discounted U.S. Treasury Bills,
commercial papers and other issuances of government sovereigns
supranationals; b) repurchase agreements; c) managed funds; d)
Asian bond fund; e) foreign securities/negotiable instruments-
Foreign Securities available under Securities Lending Agreement;
and f) managed fund-Foreign Securities receivable under
Securities lending Agreement.
Account Title Gold with Foreign Financial Institutions

Description This account is used by BSP to recognize finished gold delivery
bars, which are mobilized and shipped to the Bank of England
(BSP's custodian for its gold reserves), and/or deposited with
accelerated foreign counterparties for purposes of yield
optimization and fund generation (collaterals for foreign loans
payable).
116
Account Title Accrued Interest Paid on Foreign Securities Purchased
Description This account is used by BSP to recognize the interest accrued from
the date of last interest payment to date of purchase of foreign
securities by BSP.
Account Title Holdings of Special Drawing Rights

Description This account is used by BSP to recognize unconditional
international reserve asset created by the International Monetary
Fund (IMF) in 1969 (initially represented an allocation
proportionate to each participant's quota subscriptions with the
IMF) to supplement gold and reserve currencies of participant-
countries, which could be freely used by participants to offset a
decline in their reserves or such other external need.
10 Non-International Reserves Foreign Assets

01 Foreign Exchange Receivables
Account Title Foreign Exchange Receivables

Description This account is used by BSP to recognize the amount of
receivables from the National Government (NG) for principal and
interest of securities used as collateral for NG bonds issued to pay
NG’s foreign debt under the 1992 Philippine Financing Plan.
Credit this account upon collection of receivables, transfers or
write-off.
02 Due from Foreign Banks-Special Accounts
Account Title Due from Foreign Banks-Special Accounts

Description This account is used to recognize the amount of dollar deposit
account with Citibank, Manila used to cover all peso/dollar
purchase/sale transactions through the Philippine Dealing System.
It is a temporary non-international reserve eligible foreign
currency deposit before funds are transferred to/from the due from
foreign banks-demand deposit (Federal Reserve Bank of New
York).
117
03 Investments in Other Foreign Exchange Denominated Securities
Account Title Investments in Other Foreign Exchange Denominated Securities

Description This account is used to recognize the: a) investments in other
foreign exchange denominated securities (Brady Bonds and BSP
bonds issued by the national government and the BSP); b) equity
investment; and c) investments in other foreign exchange
denominated securities. Credit this account upon receipt of return
of investment, sale or transfers.
11 Non-Current Assets Held for Sale

01 Non-Current Assets Held for Sale
Account Title Non-Current Assets Held for Sale

Description This account is used to recognize the amount of ROPA that are
available for immediate sale in its present condition subject only
to terms that are usual and customary for sales of such assets and
the sale must be highly probable. This shall be accounted for in
accordance with PFRS 5. Credit this account upon sale.
Account Title Accumulated Impairment Losses-Non-Current Assets Held for

Sale
value of non-current assets held for sale to its recoverable
12 Deferred Tax Assets

01 Deferred Tax Assets
Account Title Deferred Tax Assets

Description This account is used to recognize the amount of income tax
recoverable in future periods with respect to deductible
temporary difference and operating loss carry forward and
Minimum Corporate Income Tax. Credit this account to reduce
tax liability.
118
99 Other Assets
01 Advances
Account Title Advances for Operating Expenses

Description This account is used to recognize the amount of advances granted
to accountable officers for payment of operating expenses of
operating/field units not maintaining complete set of books of
accounts. Credit this account upon liquidation.
Account Title Advances for Payroll

Description This account is used to recognize the amount granted to regular
disbursing officer for payment of salaries, wages, honoraria,
allowances and other personnel benefits. Credit this account upon
liquidation.
Account Title Advances to Special Disbursing Officer

Description This account is used to recognize the amount granted to
government corporation’s accountable officers and employees for
special purpose/time-bound undertakings to be liquidated within a
specified period. It also includes labor payroll for projects
undertaken by administration. Credit this account upon
liquidation.
Account Title Advances to Officers and Employees

Description This account is used to recognize amount advanced to officers and
employees for official travel. Credit this account for liquidation of
advances.
02 Prepayments
Account Title Advances to Contractors

Description This account is used to recognize amount advanced to contractors
as authorized by law. Credit this account for recoupment of
advances.
Account Title Prepaid Rent

Description This account is used to recognize the amount advanced/deposited
for leases/rentals of property, plant and equipment used in
119
government operations. Credit this account for the expended
amount.
Account Title Prepaid Registration

Description This account is used to recognize the amount advanced for
registration of government property. Credit this account for the
expended amount.
Account Title Prepaid Interest

Description This account is used to recognize the amount advanced for interest
of loans contracted by the government. Credit this account for the
expended amount.
Account Title Prepaid Insurance

Description This account is used to recognize the amount advanced for the
insurance of government property. Credit this account for the
expended amount.
Account Title Input Tax

Description This account is used to recognize the amount creditable against the
output tax for: a) the purchase or importation of goods for sale; or
for conversion into or intended to form part of a finished product
for sale including packaging materials, or for use as supplies in the
course of business; or for use as materials supplied in the sale of
service; or for use in the trade or business for which deduction for
depreciation or amortization is allowed under the National Internal
Revenue Code, except automobiles, aircrafts and yachts and the
purchase of services on which a value-added tax has been actually
paid. Credit this account upon offsetting against the output tax
and/or set up of creditable input tax.
Account Title Creditable Input Tax

Description This account is used to recognize the excess input tax paid on
purchases over output tax. Credit this account upon offsetting
against output tax and/or set up of Vat Payable.
Account Title Withholding Tax at Source

Description This account is used to recognize the amount of creditable
120
withholding tax deducted by an entity, which is designated by the
BIR as authorized agent, from rental or other services to be
credited by BIR upon receipt from the entity of proof of
remittance to the BIR together with BIR Form No. 2307.
Account Title Other Prepayments

Description This account is used to recognize the amount of prepayments not
falling under any of the specific prepayment accounts. Credit this
account for the expended amount.
03 Deposits
Account Title Deposit on Letters of Credit

Description This account is used to recognize the amount paid by the
government corporation to the bank for opening letters of credit.
Credit this account for delivery of goods purchased.
Account Title Guaranty Deposits

Description This account is used to recognize amount deposited for goods such
as deposit for containers and deposits made to guarantee
compliance with the terms of an agreement. Credit this account
for application of deposit.
Account Title Other Deposits

Description This account is used to recognize the amount of deposits not
falling under any of the specific deposit accounts. Credit this
account for the expended amount.
04 Restricted Fund
Account Title Restricted Fund

Description This account is used to recognize the amount restricted by
government corporations for authorized long-term plans except for
liquidation of long-term debt. Credit this account for the
expended amount.
121
99 Other Assets
Account Title Foreclosed Property/Assets

Description This account is used to recognize the fair value of foreclosed real
and other property/assets acquired (ROPA) by government
corporations. Credit this account for disposal or reclassification
to other PPE/asset accounts.
Account Title Accumulated Impairment Losses-Foreclosed Property/Assets

value of foreclosed property/asset to its recoverable amount due to
impairment. Debit this account upon disposal, derecognition of
Account Title Forfeited Property/Assets

Description This account is used to recognize the fair value of property or
assets forfeited as payment for tax debts. Credit this account for
disposal or reclassification to other PPE accounts.
Account Title Accumulated Impairment Losses-Forfeited Property/Assets

value of forfeited property/assets to its recoverable amount due to
impairment. Debit this account upon disposal, derecognition of
Account Title Confiscated Property/Assets

Description This account is used to recognize the fair value of confiscated
property or assets for which ownership has been finally decided in
favor of the government. Credit this account for disposal or
reclassification to other PPE accounts.
Account Title Accumulated Impairment Losses-Confiscated Property/Assets

value of confiscated property/assets to its recoverable amount due
122
Account Title Abandoned/Surrendered Property/Assets
Description This account is used to recognize the fair value of abandoned or
surrendered property or assets for which ownership has been
finally decided in favor of the government. Credit this account for
disposal or reclassification to other PPE accounts.
Account Title Accumulated Impairment Losses-Abandoned/Surrendered

Property/Assets
value of abandoned/surrendered property/assets to its recoverable
Account Title Demonetized Commemorative Coins

Description This account is used to recognize the value of coins,
commemorating anniversaries of national heroes or historical
events which have been declared without legal tender power or
withdrawn from circulation.
Account Title Commemorative Notes and Coins

Description This account is used to recognize the commemorative notes and
coins acquired by the Department of General Services of BSP.
Account Title Deferred Charges/Losses

Description This refers to the actual loss incurred on the sale/transfer of non-
performing assets to special purpose vehicles and to qualified
individuals for housing under the "Special Purpose Vehicle (SPV)
Act of 2002", which should be written down over a period of ten
years in accordance with existing regulations, subject to disclosure
requirement and other deferred charges/losses incurred.
Account Title Items Under Litigation

Description This account is used to recognize the amount of various claims the
collection of which is uncertain due to pending court proceedings.
123
Account Title Other Assets
Description This account is used to recognize assets not falling under any of
the specific asset accounts. Credit this account for disposal or
reclassification to specific asset accounts.
Account Title Accumulated Impairment Losses-Other Assets

Description This account is credited for the amount recognized to reduce asset
not falling under any of the specific asset accounts to its
2 LIABILITIES
2 Liabilities
01 Financial Liabilities
01 Payables
Account Title Accounts Payable

Description This account is used to recognize receipt/purchase/procurement/
acquisition of goods or services on account in the normal course of
trade and business operation. It is also used to recognize liability
set up against current operation for unpaid claims filed or received
and other unpaid expenses and liabilities. Debit this account for
payment or settlement of liabilities.
Account Title Due to Officers and Employees

Description This account is used to recognize incurrence of liability to officers
and employees for salaries, benefits and other emoluments
including authorized expenses paid in advance by the officers and
employees. Debit this account for settlement or payment to
officers and employees.
Account Title Notes Payable

Description This account is used to recognize issuance of promissory
notes/trade acceptance and other negotiable instruments. Debit
this account for payment or settlement of promissory notes.
124
Account Title Interest Payable
Description This account is used to recognize accrual of interest on
loans/bonds or other indebtedness, whether short-term or long-
term. Debit this account for payment of the interest.
Account Title Operating Lease Payable

Description This account is used to recognize incurrence of a liability arising
from operating lease contract. Debit this account for the payment
of lease.
Account Title Finance Lease Payable

Description This account is used to recognize incurrence of liability arising
from finance lease contract. Debit this account for the payment of
lease.
Account Title Awards and Rewards Payable

Description This account is used to recognize 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 account for payment to
the grantee of the award/reward.
Account Title Service Concession Arrangements Payable

Description This account is used to recognize the liability arising from
unconditional obligation of the grantor entity to make series of
payments to the operator upon recognition of service concession
assets, excluding finance charge and service components of the
payments. Debit this account upon payment or when the amount
of payments in advance of the service concession asset being
recognized was expended.
Account Title Accrued Benefits Payable

Description This account is used to recognize accrued expenses from claims
filed by members or received by government corporations such as
GSIS, SSS, PhilHealth, etc. but not yet processed and paid. Debit
125
this account upon payment of the benefits.
Account Title Insurance/Reinsurance Premium Payable

Description This account is used to recognize the amount of premium due to
insurance companies. Debit this account for the payment of
premium.
02 Bills/Bonds/Loans Payable
Account Title Treasury Bills Payable

Description This account is used to recognize issuances/flotations of treasury
bills to Government Securities Eligible Dealers (GSED),
Government Corporations (GCs), Local Government Units
(LGUs), Tax-Exempt Institutions (TEI) and other entities through
auction, over the counter or tap method. Debit this account for
redemptions of treasury bills.
Account Title Bonds Payable-Domestic

Description This account is used to recognize issuances/flotations of peso-
denominated bonds. Debit this account for redemptions of bonds.
Account Title Discount on Bonds Payable-Domestic

Description This account is used to recognize discounts on issuance of peso-
denominated bonds. Credit this account for amortization of the
discount.
Account Title Premium on Bonds Payable-Domestic

Description This account is used to recognize premiums on issuance of peso-
denominated bonds. Debit this account for amortization of the
premium.
Account Title Bond Issue Cost-Domestic

Description This account is used to recognize the transaction costs incurred in
connection with the issue and disposal of peso-denominated
bonds. Credit this account for amortization of the bond issue cost.
126
Account Title Bonds Payable-Foreign
Description This account is used to recognize offshore issuances/flotations of
foreign currency-denominated bonds. Debit this account for
redemptions of bonds.
Account Title Discount on Bonds Payable-Foreign

Description This account is used to recognize discounts on issuance of foreign
currency-denominated bonds. Credit this account for amortization
of the discount.
Account Title Premium on Bonds Payable-Foreign

Description This account is used to recognize premiums on issuance of foreign
currency-denominated bonds. Debit this account for amortization
of the premium.
Account Title Bond Issue Cost-Foreign

Description This account is used to recognize the transaction costs incurred in
connection with the issue and disposal of foreign-denominated
bonds. Credit this account for amortization of the bond issue cost.
Account Title Loans Payable-Domestic

Description This account is used to recognize receipt of loan proceeds (cash or
non-cash) from local creditors. Debit this account for payments of
loan amortization.
Account Title Loans Payable-Foreign

Description This account is used to recognize receipt of loan proceeds (cash or
non-cash) from foreign governments or international financial
institutions including: 1)gold-backed loan-short term liabilities
which allows BSP to monetize its gold without reducing its gold
reserves; 2) securities-backed loan-loans from the bank for
International Settlement collateralized by BSP's holdings of Fixed
Rate Investments or Medium Term Instruments issued by the
Bank for International Settlement; 3) loans granted to the BSP by
foreign banks to finance various projects funded out of 1989 New
Money Facility; 4) Gold-Repo Deposit- liability account for gold
under swap agreement whereby there is a firm commitment to
127
repurchase the quantity of gold exchanged; 5) Blocked Peso
Deposit- peso deposited with BSP for Paris Club accounts of
public and private sector borrowers with guarantee from a public
sector entity, for which BSP has extended forward cover; and 6)
all types of borrowings from foreign lending institutions
denominated in foreign currency. Debit this account for payments
of loan amortization.
Account Title Bills Payable-Bangko Sentralng Pilipinas

Description This account is used to recognize the amortized cost of obligations
to the BSP. Debit this account for payments of loan amortization.
Account Title Redeemable Preferred Shares

Description This account is used to recognize preferred shares issued which
provides for redemption on a specific date, i.e., mandatorily
redeemable preferred shares. This shall be measured at amortized
cost using the effective interest method.
Account Title Term Loan Facility

Description This account is used to recognize BSP non-collateralized loan
evidenced by an agreement that involves the participation of both
domestic and offshore creditors.
Account Title Other Bills/Bonds/Loans Payable

Description This account is used to recognize the amortized cost of other
borrowings, which cannot be appropriately classified under any of
the specific bills/bonds/loans payable accounts. Debit this account
upon redemption of other bills/bonds payable or payment of loan
amortization for other loans payable.
03 Tax Refunds Payable
Account Title Tax Refunds Payable

Description This account is used to recognize amount refundable to taxpayers
for excess amount paid/withheld. Debit this account upon
payment or return of the tax refunds to the taxpayers.
128
04 Financial Liabilities Designated at Fair Value through Surplus/Profit
or Deficit/Loss
Account Title Financial Liability Designated at Fair Value through

Description This account is used to recognize financial liabilities that upon
initial r ecognition are designated by the government corporation
at fair value through surplus/profit or deficit/loss. Debit this
account upon derecognition.
05 Financial Liabilities Held for Trading
Account Title Derivatives Financial Liability with Negative Fair Value Held for
Trading
Description This account is used to recognize the negative fair value of
derivatives acquired for the GFI’s trading activities. Debit this
account upon derecognition.
Account Title Liability for Short Position

Description This account is used to recognize the obligation of the
purchaser/borrower of securities under Reverse Repurchase
Agreements/Certificates of Assignment/Participation with
Recourse/Securities Lending and Borrowing Agreements to return
the securities purchased/borrowed from the seller/lender, which
the former sold/pledged to third parties. Debit this account upon
derecognition.
06 Financial Liabilities Associated with Transferred Assets
Account Title Financial Liabilities Associated with Transferred Assets

Description This account is used to recognize the consideration received
arising from the transfer of assets that does not result in
derecognition because the bank (transferor) has retained
substantially all the risks and rewards of ownership of the
transferred asset.
129
07 Domestic Securities Sold Under Repurchase Agreements
Account Title Domestic Securities Sold Under Repurchase Agreements
Description This account is used to recognize availment of a bank of the
Reverse Repurchase window of BSP and is undertaken when
BSP desires to decrease liquidity for a certain time. On a
temporary basis, the bank sells government securities (the
underlying instrument) with an undertaking/commitment to buy
back the same securities after a specified period and at a specified
rate.
08 Unsecured Subordinated Debt
Account Title Unsecured Subordinated Debt

Description This account is used to recognize the amortized cost of
obligations arising from the issuance of unsecured subordinated
debt, which may be eligible as Tier 2 (supplementary) capital of
the bank, subject to certain terms and conditions.
Account Title Unamortized Unsecured Subordinated Debt Discount

Description This account is used to recognize the discount on unsecured
subordinated debt. Credit this account for amortization of the
discount.
Account Title Unamortized Unsecured Subordinated Debt Premium

Description This account is used to recognize the premium on unsecured
subordinated debt. Debit this account for amortization of the
premium.
99 Other Financial Liabilities
Account Title Other Financial Liabilities

Description This account is used to recognize the amount of other financial
liabilities incurred which cannot be appropriately classified under
any of the specific financial liability accounts. Debit this account
for settlement of liabilities.
130
02 Inter-Agency Payables
01 Inter-Agency Payables
Account Title Due to BIR

Description This account is used to recognize taxes withheld from
officers/employees and other entities other than Value Added Tax
Payable and Income Tax Payable. Debit this account for
remittance of the taxes withheld to the BIR.
Subsidiary Ledgers:
01 – Withholding Tax on Compensation
02 – Expanded Withholding Tax
03 – Withholding Tax on Government Money Payments
(GMP)-Percentage Taxes
04 – Withholding Tax on GMP – Value Added Taxes
(GVAT)
Account Title Due to GSIS

Description This account is used to recognize the withholding of employees’
premium payments and other payables for remittance to the
Government Service Insurance System (GSIS). Debit this
account for the remittance of withheld amount.
Subsidiary Ledgers:
01 – Life and Retirement Premium
02 – ECC
03 – Salary Loan
04 – Policy Loan
Account Title Due to Pag-IBIG

Home Development Mutual Fund (HDMF). Debit this account
for the remittance of withheld amount.
Subsidiary Ledgers:
01 – Pag-IBIG Premium
02 – Pag-IBIG Multi-Purpose Loan
03 – Pag-IBIG Housing Loan
131
Account Title Due to PhilHealth
premium payments for remittance to the Philippine Health
Insurance Corporation (PHIC). Debit this account for the
remittance of withheld amount.
Account Title Due to NGAs

Description This account is used to recognize receipt of funds from National
Government Agencies for the implementation of specific
programs or projects and other inter-agency transactions subject
to liquidation. Debit this account for delivery of goods/services,
liquidation of funds received and settlement of liabilities.
Account Title Due to Government Corporations

Description This account is used to recognize the receipt of: a) funds from
government corporations for delivery of goods/services as
authorized by law; b) fund transfers from the government
corporations for the implementation of specific programs or
projects; c) NG-managed fund; d) escrow accounts; e) collateral
deposits for the account of government corporations and SSS;
and f) other inter-agency transactions, except those pertaining to
GSIS, Pag-IBIG, PhilHealth and SSS. Debit this account for
delivery of goods/services, liquidation/release of funds received
and settlement of liabilities.
Account Title Due to LGUs

Description This account is used to recognize the receipt of funds from LGUs
for delivery of goods/services as authorized by law, fund
transfers for the implementation of specific programs or projects
and other inter-agency transactions. Debit this account for
delivery of goods/services, liquidation of funds received and
settlement of liabilities.
Account Title Due to Subsidiaries/Joint Venture/Associates/Affiliates

Description This account is used to recognize the amounts payable to
subsidiaries/joint ventures/associates/affiliates. Debit this account
132
Account Title Due to Treasurer of the Philippines
Description This account is used to recognize payables of the government
corporations to the National Treasury other than dividends due to
the National Government. This includes all credits and deposits,
including interest thereon. These credits and deposits, including
interest thereon, shall remain in this account up to the time the
proceeds thereof have been remitted under court order to the
Treasurer of the Philippines.
Account Title Due to Parent Corporations

Description This account is used to recognize the amounts payable by
subsidiaries and associates/affiliates of government corporations
to parent corporations. Debit this account for delivery of
goods/services, liquidation of funds received and settlement of
liabilities.
Account Title Due to SSS

Social Security System (SSS). Debit this account for the
remittance of withheld amount.
Subsidiary Ledgers:
01 – Life and Retirement Premium
02 – ECC
03 – Salary Loan
04 – Policy Loan
Account Title Value Added Tax Payable

Description This account is used to recognize the amount of the tax liability
of the VAT registered seller or service provider to be remitted to
the BIR reduced by creditable input tax. Debit this account upon
monthly or quarterly filing/payment to the BIR.
Account Title Income Tax Payable

Description This account is used to recognize the amount of income tax due
to the BIR reduced by creditable withholding taxes. Debit this
account upon payment to the BIR and for any adjustments made
to the account.
133
02 Due to BSP/Other Banks/Others
Account Title Due to BSP

Description This account is used to recognize the estimated liability for the
bank’s share in the cost of maintaining the appropriate
supervision and examination department of the BSP, or other
costs which cannot be appropriately classified and shall be set up
monthly against current operations.
Account Title Due to Resident Banks-Clearing Accounts

Description This account is used to recognize the credit balances of deposit
account maintained by other resident banks as clearing account.
Account Title Due to Non-Resident Banks-Working Capital

Description This account is used to recognize the deposit accounts maintained
by non-resident banks as working funds denominated in local
currency funded by inward remittances subject to drawing
through payment order of the former.
Account Title Due to Foreign Currency Deposit Unit/Regional Banking Units

Description This account is used to recognize the credit balances for clearing
of items/transactions between FCDU/RBU.
Account Title Interbank Loans Payable

Description This account is used to recognize the cost of borrowings from
other resident banks and non-bank financial institutions with
quasi-banking authority. This includes cost of call/demand
borrowings or amortized costs of borrowings other than those
payable on call/demand. Debit this account for payments of loan
amortization.
Subsidiary Ledgers:
01 - Interbank Call Loans
02 - Interbank Term Loans
134
Account Title Due to International Monetary Fund
Description This account is used to recognize the purchase/repurchase of
Special Drawing Rights in US dollar equivalent under
International Monetary Fund credit facilities; credited for
revaluation loss due to fluctuation in exchange rates and debited
for revaluation gain and payment of local administrative
expenses.
Account Title Allocation of Special Drawing Rights

Description This account is used to recognize the liability to International
Monetary Fund as a result of the creation of special drawing
rights as reserve assets in the BSP books. Month-end revaluation
arising from fluctuations in exchange rates is credited/debited to
"Revaluation Surplus".
Account Title Due to Philippine Deposit Insurance Corporation

Description This account is used to recognize the amount payable to the PDIC
as premium on insurance for deposits. Debit this account for
settlement of liabilities.
Account Title Due to Philippine Crop Insurance Corporation

Description This account is used to recognize the amount payable to the PCIC
as premium on insurance covering production loans for palay
under the supervised credit program, which premium shall
include the share of the borrower-farmer and the bank. Debit this
account for settlement of liabilities.
Account Title Due to Head Office/Branches/Agencies Abroad

Description This account is used to recognize the clearing account for
items/transactions between the Philippine branches of foreign
banks and its Head Office/Branches/Agencies abroad. This is the
reciprocal account of “Due from Head Office/Branches/Agencies
Abroad (Philippine branch of a foreign bank)”.
Account Title Others

Description This account is used to recognize the liabilities which cannot be
appropriately classified under any of the specific accounts. Debit
this account for settlement of liabilities.
135
03 Intra-Agency Payables
01 Intra-Agency Payables
Account Title Due to Operating Units

Description This account is used to recognize payables of central/home/head
office from its operating units/field units below regional/branch
level. It also includes fund transfers to an operating/field unit
from another operating/field unit of the same government
corporation. Debit this account for payment/liquidation of
payable account.
Account Title Due to Other Funds

Description This account is used to recognize the authorized receipt of funds
from one fund to another fund maintained by the same
government corporation. Debit this account for transfer of the
funds to another fund.
Account Title Due to Central/Home/Head Office

Description This account is used to recognize the receipt of funds from the
Central/Head/Home Office by Regional/Branch/Field Offices of
government corporation for the implementation of specific
programs or project subject to liquidation. Debit this account for
liquidation of funds received or settlement of liabilities.
Account Title Due to Regional/Branch Offices

Description This account is used to recognize payables of the
Central/Head/Home Office to Regional/Branch Offices and
between Regional/Branch Offices. Debit this account for
liquidation of funds received or settlement of liabilities.
04 Trust Liabilities
01 Trust Liabilities
Account Title Trust Liabilities

Description This account is used to recognize the receipt of amount held in
trust for specific purpose. Debit this account for payment or
settlement of the liability.
136
Account Title Trust Liabilities-Disaster Risk Reduction and Management Fund
Description This account is used to recognize the receipt of amount held in
trust for Disaster Risk Reduction and Management. Debit this
account for payment or settlement of the liability.
Account Title Bail Bonds Payable

Description This account is used to recognize 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. It also includes immigration bonds required from
foreign nationals charged with crimes or violations of Philippine
laws. Debit this account for refund or forfeiture of the bond.
Account Title Guaranty/Security Deposits Payable

Description This account is used to recognize 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
terms of the contract. Debit this account for refund after the
fulfillment of the purpose of the bond or forfeiture upon failure to
comply with the purpose of the bond.
Account Title Customers’ Deposits Payable

Description This account is used to recognize the receipt of cash deposits
from customers for goods/services to be delivered and property to
be leased. Debit this account upon application of the deposit to
the cost of the goods/services delivered and of the damages to the
leased property.
Account Title Margin Deposits

Description This account is used to recognize the non-interest bearing
deposits required on commercial letters of credit issued in favor
of beneficiaries arising from movement of goods or services and
deposits corresponding to negotiations on letters of credit
evidenced by import bills and/or trust receipts.
137
Account Title Deposit from Prospective Investors
Description This account is used to recognize the payments made by
stockholders of government corporations on subscription to the
increase in authorized capital which cannot be directly credited to
“Common Stock Issued” account pending approval by the BSP
and registration with the Securities and Exchange Commission of
the amendment to the Articles of Incorporation increasing capital
stock.
05 Deferred Credits/Unearned Income

01 Deferred Credits
Account Title Deferred Finance Lease Revenue

Description This account is used to set up in the books of the lessor the
unearned income from finance lease which corresponds to the
difference between the total finance lease receivable and the
derecognized asset under a finance lease. Debit this account when
lease income is earned.
Account Title Deferred Service Concession Revenue

Description This account is used to recognize the unearned service concession
revenue arising from the grant to operator the right to earn
revenue from third party users of the service concession asset or
another revenue generating asset. Debit this account as the
specific revenue is recognized.
Account Title Output Tax

Description This account is used to recognize the value added tax on the sale
of goods/property and services. Debit this account upon offsetting
against Input Tax/Creditable Input Tax and/or set up of VAT
Payable and for any adjustments made to the account.
Account Title Other Deferred Credits

Description This account is used to recognize other transactions not falling
under any of the specific deferred credits accounts. Debit this
account when related income is earned.
138
02 Unearned Revenue/Income
Account Title Unearned Revenue/Income-Investment Property

Description This account is used to recognize the receipt of advance
rent/lease income from investment property. Debit this account
when rent/lease income is earned.
Account Title Unearned Tax Subsidy

Description This account is used to recognize the receipt of tax subsidy which
is applicable to future period/s. Debit this account when revenue
is earned.
Account Title Commitment Contribution

Description This account is used to recognize commitment contribution for
the upgrading of airports. Debit this account when revenue is
earned.
Account Title Reserve for Unearned Premiums

Description This account is used by PCIC to recognize the statutory legal
reserve required for all unexpired risks of the entity. Debit this
account for release of the reserve pertaining to expired risks and
other adjustments made to the account.
Account Title Other Unearned Revenue/Income

Description This account is used to recognize other income/revenue received
in advance not falling under any of the specific unearned
revenue/income accounts. Debit this account when revenue is
earned.
06 Provisions
01 Provisions
Account Title Pension Benefits Payable

Description This account is used to recognize accrual of pension of
government personnel. Debit this account for payment of
pension benefits.
139
Account Title Leave Benefits Payable
Description This account is used to recognize accrual of money value of the
earned leave credits of government personnel. Debit this account
for monetization of earned leave and payment of terminal leave
benefits.
Account Title Retirement Gratuity Payable

Description This account is used to recognize liability for retirement gratuity
benefits due to government personnel. Debit this account upon
payment of the retirement gratuity benefits.
Account Title Provision for Product Warranty

Description This account is used to recognize the provision for the best
estimate of the costs of making good the warranty for the
products sold before the balance sheet date. Debit this account
upon payment/settlement of the liability.
Account Title Provision for Environmental Damages

Description This account is used to recognize the provision for a reasonable
estimate of liability to be incurred to rectify environmental
damage. Debit this account upon payment/settlement of the
liability.
Account Title Other Provisions

Description This account is used to recognize liabilities of uncertain timing or
amount. This includes provisions for litigation and other legal
claims, warranty provisions, decommissioning provisions, or
environmental provisions, among others. Debit this account upon
payment/settlement of the liability.
07 Currency Issued
01 Currency Issued
Account Title Currency Issued

Description This account is used to recognize liability for Philippine currency
notes and coins issued by the BSP Cash Department.
140
08 Deposit Liabilities
01 Deposit Liabilities
Account Title Foreign Currency Deposits

Description This account is used to recognize Foreign Currency Department-
Treasurer of the Philippines (FCD-TOP) Special Accounts, FCD-
TOP Time Deposits.
Account Title International Financial Institutions

Description This account is used to recognize the Philippine Peso equivalent
of foreign currencies sold to BSP for disbursement of foreign
loans of the Philippine Government and debited simultaneously
for payment to the NG or to various contractor-beneficiaries.
Account Title Demand Deposit-Reserves

Description This account is used to recognize deposits of banks and other
financial institutions, including banks' respective funds to settle
transactions due to/from BSP and with other banks in peso
denominated currency and are subject to payment in legal tender,
upon demand, by the presentation of checks to comply with the
reserve requirements as provided under Section 94 of R.A. 7653.
Account Title Demand Deposit

Description This account is used to recognize deposits, subject to withdrawal
either by check or through the automated tellering machines,
which are otherwise known as current or checking accounts.
Account Title Demand Deposit-Others

Description This account is used to recognize trust funds (including accounts
for Small and Medium Enterprises, In-Trust for BIR, Escrow
account for commercial papers, Treasurer of the Philippines,
other government entities, revolving fund and funds under
administration) deposited with and/or managed by the BSP for
various entities/instrumentalities of the government and other
offices.
141
Account Title Savings Deposit
Description This account is used to recognize interest-bearing deposits which
are withdrawable either upon presentation of a properly
accomplished withdrawal slip together with the corresponding
passbook or through the automated tellering machines.
Account Title Fixed-term Deposit

Description This account is used to recognize receipt/set up of deposit and
rollover of principal plus interest from the Treasurer of the
Philippines and government corporations to BSP.
Account Title Withdrawal in Progress

Description This account is used to recognize the withdrawal of cash in the
regions by the regional offices/branches of BSP.
Account Title Negotiable Order of Withdrawal Accounts

Description This account is used to recognize the interest bearing savings
deposits which are withdrawable by means of Negotiable Orders
of Withdrawal.
Account Title Time Certificates of Deposit

Description This account is used to recognize the interest-bearing deposits
with specific maturity dates and evidenced by certificates issued
by the bank.
Account Title Long-term Negotiable Certificates of Deposit

Description This account is used to recognize the interest bearing negotiable
certificates of deposit with a minimum maturity of five years.
Account Title Special Deposit Account

Description This account is used to recognize the availment of a bank of the
special deposit account facility of the BSP.
142
09 Deferred Tax Liabilities
01 Deferred Tax Liabilities
Account Title Deferred Tax Liabilities

Description This account is used to recognize future tax liability arising from
an income, which is temporary and not taxable, and excess of net
income per financial statements over taxable income multiplied
by the tax rate.
99 Other Payables
99 Other Payables
Account Title Special Time Deposit

Description This account is used to recognize the non-interest bearing
deposits used as security for IGLF purposes.
Account Title Treasurer/Cashier/Manager's Check

Description This account is used to recognize the total amount of checks
drawn by the bank upon itself payable to the payees named in the
check.
Account Title Payment Order Payable

Description This account is used to recognize the inward and outward
remittances of funds by telegraphic transfers, demand drafts or
mail transfer orders received by the bank pending
payment/disposition to designated beneficiaries or
application/disposition to appropriate accounts.
Account Title Undistributed Collections

Description This account is used to recognize temporary pool of collection of
members' contribution and loan amortizations of paying members
and other unidentified collections of government corporations as
of the close of the transaction date.
Account Title Unclaimed Balances

Description This account is used to recognize other credits held by the bank
in favor of persons known to be dead or unheard from during the
preceding ten (10) years or more which have not been reported to
143
the Treasurer of the Philippines pursuant to the provisions of the
Unclaimed Balances Act (Act No. 3936, as amended). Debit this
account upon payment to the proper parties.
Account Title Loans by Regional Banking Units from Foreign Currency

Deposit Unit/Expanded Foreign Currency Deposit Unit
Description This account is used to recognize the Foreign Currency Deposit
Unit (FCDU)/Expanded Foreign Currency Deposit Unit
(EFCDU) funds borrowed by Regional Banking Unit (RBU)
solely for the purpose of funding RBU’s net fund outflow on its
on-balance sheet foreign exchange transactions, as allowed under
existing regulations.
Account Title Liability for Letters of Credit

Description This account is used to recognize letters of credit for importations
issued by the bank. Debit this account upon payment/settlement
of the liability.
Account Title Outstanding Acceptances Executed by or for Account of the

Bank
Description This account is used to recognize total liabilities of the bank to its
correspondent banks arising from customer trade, which calls for
time drafts payable within a specified number of days from the
date of presentation by the beneficiary, for which the bank has
given accommodations to the buyer/importer in the form of
acceptance credit.
Account Title Dividends Payable

Description This account is used to recognize the amount of unpaid cash
dividends declared by the Board of Directors to stockholders of
record. Debit this account upon payment/settlement of the
liability.
Account Title Servicing Liabilities

Description This account is used to recognize the fee received from
securitization transactions wherein the amount is not expected to
compensate the bank adequately for performing the servicing.
Debit this account upon payment/settlement of the liability.
144
Account Title Insured Deposit Claims Payable
Description This account is used to recognize validated but unpaid insured
deposits of closed banks. Debit this account upon
payment/settlement of the liability.
Account Title Return Premiums Payable

Description This account is used by PCIC to recognize the amount of
premium refunds due to assured-farmers/lending institutions
arising from insurance collections. Debit this account for
payment of refund premium.
Account Title No Claim Bonus Payable

Description This account is used by PCIC to recognize amount of no claim
benefit incurred as of a given date but not yet paid. Debit this
account upon payment/settlement of the liability.
Account Title Other Payables

Description This account is used to recognize other liabilities not falling
under any of the specific payable accounts. Debit this account
3 EQUITY
3 Equity
01 Government Equity
01 Government Equity
Account Title Accumulated Surplus/(Deficit)

Normal Balance Credit (Debit)
Description This account is used to recognize the cumulative results of
normal and continuous operations of a non-Government Business
Enterprise (non-GBE) including prior period adjustments, effect
of changes in accounting policy and other capital adjustments.
This account is used to close the Revenue/Income and Expense
Summary account.
145
Account Title Government Equity
Description This account is used to recognize the amount paid by the NG
whether in cash or in kind as approved under the GC's charter for
non-stock corporations.
Account Title Contributed Capital

Description This account is used to recognize capital contributed by the
government to the entity. It includes share capital as well as
share premium.
02 Revaluation Surplus
01 Revaluation Surplus
Account Title Revaluation Surplus

Description This account is used to recognize the result of revaluation of
assets. The credit balance represents the excess of
revaluation/appraisal value over the book value of the revalued
asset. The decrease shall be debited directly to the extent of any
credit balance existing in the revaluation surplus.
03 Intermediate Accounts
01 Intermediate Accounts
Account Title Revenue/Income and Expense Summary

Description This is an intermediary account used by the government
corporation to close in the books all income accounts and all
expense accounts. This account is closed to Accumulated
Surplus/(Deficit) or to Retained Earnings/(Deficit) account.
04 Equity in Joint Venture

01 Equity in Joint Venture
Account Title Equity in Joint Venture

Description This account is used to recognize equity shareholding in a joint
venture.
05 Gains/Losses
146
06 Equity in Associates/Affiliates
01 Equity in Associates/Affiliates
Account Title Equity in Associates/Affiliates

Description This account is used to recognize the equity shareholding in
associates/affiliates.
07 Retained Earnings/(Deficit)
01 Retained Earnings/(Deficit)
Account Title Retained Earnings/(Deficit)

Description This account is used to recognize the cumulative results of
normal and continuous operations of a GBE including prior
period adjustments, effect of changes in accounting policy and
other capital adjustments. This may also include funds set aside
for various purposes in accordance with existing laws, rules and
regulations. This account is used to close the Revenue/Income
and Expense Summary account.
08 Stockholders ‘Equity
01 Stockholders’ Equity
Account Title Share Capital

Description This account is used to recognize the aggregate amount of fully
paid shares, including stock dividends, for which the
corresponding stock certificates have been issued.
Account Title Share Premium

Description This account is used to recognize the amount paid for shares in
excess of par or stated value.
Account Title Subscribed Share Capital

Description This account is used to recognize the amount of subscribed
shares, which has not been fully paid and/or, if fully paid, the
corresponding stock certificates of which has not yet been issued.
147
Account Title Treasury Shares
Description This account is used to recognize the entity's own shares of
stock that have been issued and fully paid, subsequently re-
acquired through purchase or donations and have not been
cancelled or re-issued.
Account Title Stock Dividend Distributable

Description This account is used to recognize stock dividends declared but
not yet issued. Credit this account upon issuance of the stock
dividends.
Account Title Equity Component of Compound Financial Instruments

Description This account is used to recognize the amount allocated, net of
income tax effects, for the equity portion of compound financial
instruments.
Account Title Minority Interests in Subsidiaries

Description This account is used to recognize equity of the minority
shareholders in a company's subsidiaries.
Account Title Other Equity Instruments

Description This account is used to recognize the equity instruments that
cannot be classified under any of the equity accounts.
09 Cumulative Translation Adjustment

01 Cumulative Translation Adjustment
Account Title Cumulative Translation Adjustment

Description This account is used to recognize the equity reserve resulting
from the translation of foreign subsidiary currency into
currency of the parent company upon consolidation;
summarized gains and losses after currency translation for a
period of time.
148
10 Cumulative Changes in Fair Value
01 Cumulative Changes in Fair Value
Account Title Cumulative Changes in Fair Value of Investments

Description This account is used to recognize the accumulated gain or loss
on changes in fair value of investments. Debit/Credit this
account upon sale or disposal of the investment.
REVENUES AND EXPENSES
4REVENUE
4 Revenue
01 Tax Revenue
01 Tax Revenue-Individual and Corporation
Account Title Travel Tax

Description This account is used to recognize the taxes imposed on
individuals leaving the country irrespective of the place where the
air ticket is issued and the form or place of payment. This
account shall be closed to the Revenue/Income and Expense
Summary account.
02 Service and Business Income

01 Service Income
Account Title Permit Fees

Description This account is used to recognize the fees and charges collected
in the issuance of permits by government corporations in the
exercise of regulatory powers. This account shall be closed to the
Revenue/Income and Expense Summary account.
Account Title Registration Fees

Description This account is used to recognize the fees collected for
registration of property, deeds, individuals and associations. This
Summary account.
149
Account Title Registration Plates, Tags and Stickers Fees
Description This account is used to recognize fees collected for registration of
plates, tags and stickers issued by authorized government
corporations. This account shall be closed to the
Account Title Clearance and Certification Fees

Description This account is used to recognize the fees collected for the
issuance of clearances/certificates to individuals/organizations/
groups/corporations. This account shall be closed to the
Account Title Franchising Fees

Description This account is used to recognize the fees collected for issuance
of franchises on radio and/or television broadcasting companies,
and other similar utilities. This includes fees on issuance of
certificate of public conveyance for transport facilities, and
certificate of conveyance for operation of communication
facilities. This account shall be closed to the Revenue/Income
Account Title Licensing Fees

issuance of licenses, such as professional licenses and the like.
This account shall be closed to the Revenue/Income and Expense
Summary account.
Account Title Supervision and Regulation Enforcement Fees

for supervision and enforcement of laws and regulations. This
Summary account.
Account Title Spectrum Usage Fees

Description This account is used to recognize the fees collected for use,
allocation and assignment of radio frequency wave lengths. This
Summary account.
150
Account Title Legal Fees
Description This account is used to recognize the filing fees for criminal
complaints, appeals/petitions for review, motions/pleadings, and
others for consideration or comment of prosecutors and the like.
Summary account.
Account Title Inspection Fees

Description This account is used to recognize the fees for the conduct of
inspections by authorized government corporations. This account
also includes inspection fees imposed on leaf tobacco scrap, scrap
cigars, cigarettes and other tobacco products imposed under the
NIRC. This account shall be closed to the Revenue/Income and
Expense Summary account.
Account Title Verification and Authentication Fees

Description This account is used to recognize the fees collected for
verification of individual contract of employment, master/model
or pro-forma contract, proof of visa availability, job
order/manpower request, special power of attorney, group service
contract of employment, recruitment/manning agreement and
other similar documents. This account also includes fees
collected for issuance of authenticated copies of legal documents.
Summary account.
Account Title Passport, Visa and Application Fees

for the issuance of visas and passports including application fees,
notarial fees and other consular services. This account shall be
closed to the Revenue/Income and Expense Summary account.
Account Title Processing Fees

processing of documents for securing permits/applications. This
also includes import processing fees, processing for permit
application and the like. This account shall be closed to the
151
Account Title Fines and Penalties-Service Income
processing of documents for fines and penalties charged to
service income. This account shall be closed to the
Account Title Mail Services Revenue

Description This account is used by PhlPost to recognize the fees
collected/billed for the delivery of domestic express or
international mail services, and international mail exchange
remuneration. The balance of this account net of discounts on
mailing services shall be closed to the Revenue/Income and
Subsidiary Ledger:
01 – Domestic Express Mail Service
02 – International Mail Service
03 – International Mail Exchange Remuneration
99 – Other Mail Services Revenue
Account Title Discounts on Mailing Services

Description This account is used by PhlPost to recognize discounts on fees
collected from the delivery of domestic or international express,
registered, ordinary and parcel mail service and international mail
exchange remuneration which includes fees from EMS delivery,
terminal dues, transit charges, inward land rate, internal air
conveyance, direct access/entry and the like. This account shall
be deducted from Mail Services Revenue.
Account Title Postal Payment Service Revenue

Description This account is used by PhlPost to recognize the fees
collected/billed from domestic postal payment service,
international postal payment services and from logistics. This
Summary account.
Subsidiary Ledgers:
01 – Domestic Postal Payment Service
02 – Outbound International Postal Payment Service
03 – Inbound International Postal Payment Service
04 – Logistics
99 – Other Postal Services Revenue
152
Account Title Fees and Commissions Income
Description This account is used to recognize fees and commission collected
from payment services, intermediation services, custodianship,
underwriting and securities dealership, securitization activities,
fiduciary activities, and other fees and commissions. This
Summary Account.
Account Title Consultancy Fees

Description This account is used to recognize fees collected from consultancy
services/technical assistance provided to government entities,
private sector, non-government organizations in the civil society,
the academe, organized basic sector groups and the international
donor entities. This account shall be closed to the
Account Title Participation Fees

Description This account is used to recognize fees collected from
participation of exhibitors in the local and international trade
exhibits, fairs and signature events. This account shall be closed
to the Revenue/Income and Expense Summary account.
Account Title Research Fees

Description This account is used to recognize fees collected from research
activities provided to the entities of the government, private
sector, non-government organizations in the civil society, the
academe, organized basic sector groups and the international
donor entities. This also includes researches/analysis concerning
tobacco, cigars and cigarettes done by National Tobacco
Administration for its clients. This account shall be closed to the
Account Title Accreditation Fees

Description This account is used to recognize the accreditation fees charged
by PRA on retirement facilities and/or establishments. This
Summary account.
153
Account Title Cancellation Fees
Description This account is used to recognize the fees charged by PRA on
retiree-members for the cancellation of their membership from
the Special Retirees Visa Program. This account shall be closed
Account Title Other Service Income

Description This account is used to recognize other service income not falling
under any of the specific service income accounts. This account
shall be closed to the Revenue/Income and Expense Summary
account.
02 Business Income
Account Title School Fees

Description This account is used to recognize the fees imposed to students of
state universities, colleges, public schools and other entities. It
includes tuition, registration, athletic, cultural, diploma and
graduation, transcript of records, library, training, entrance
examination fee, comprehensive examination fee and the like.
Summary account.
Account Title Affiliation Fees

Description This account is used to recognize the fees collected by
institutions from students undertaking practice of their
professions. This account shall be closed to the Revenue/Income
Account Title Examination Fees

Description This account is used to recognize the fees imposed for
administering examinations such as licensure, trade, and the like.
Summary account.
Account Title Seminar/Training Fees

Description This account is used to recognize the fees collected or billed for
attendance in short course trainings and seminars/conventions/
154
workshops. This account shall be closed to the Revenue/Income
Account Title Rent/Lease Income

Description This account is used to recognize the income from use of
government property/facilities, such as rent/lease of function
rooms/buildings, fees on storage, warehousing, use of heavy
equipment of other government entities, rental fees of drilling
equipment and accessories, leased lines/channels, safe deposit
box, bank premises and equipment, real and other property
acquired and the like. This also includes income from finance
lease. This account shall be closed to the Revenue/Income and
Account Title Communication Network Fees

Description This account is used to recognize 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.
Summary account.
Account Title Transportation System Fees

Description This account is used to recognize the income from the operation
of transportation system like trains, buses, watercrafts, aircrafts,
and the use of land transport system terminals. This includes
terminal fees collected by Civil Aviation Authority of the
Philippines (CAAP). This account shall be closed to the
Account Title Road Network Fees

Description This account is used to recognize the toll fees charged for use of
road network and bridges. This account shall be closed to the
Account Title Waterworks System Fees

Description This account is used to recognize the income from the operation
of waterworks system, such as water connection fees, water
155
utilization fees, irrigation fees, and the like. This account shall be
Subsidiary Ledgers:
01 – Metered Sales to General Customers
02 – Unmetered Sales to General Customers
03 – Sales to Irrigation Customers
04 – Private Fire Protection Service
05 – Public Fire Protection Service
06 – Sales to Other Water Utilities for Resale
07 – Sales to Government Agencies by Contracts
99 – Other Waterworks System Fees
Account Title Power Supply System Fees

Description This account is used to recognize the income earned from power
generation, transmission and distribution. This account shall be
Account Title Seaport System Fees

Description This account is used to recognize the fees imposed on vessels for
use of port facilities, such as loading/discharging of cargoes,
embarking/disembarking passengers, dockage berthing/bunkering
and anchoring at the port, wharfage, arrastre/stevedoring,
pilotage, fees charged for cargoes whether for domestic shipment
or transshipment and security fee for the transport of containers
and other similar fees. This account shall be closed to the
Account Title Landing and Parking Fees

Description This account is used to recognize the fees imposed on the use of
airport facilities such as landing and taking-off area for aircraft,
facilities for aircraft maintenance, and other airport facilities such
as airport runways and taxiways, radio beacons, aprons and the
like. This account shall be closed to the Revenue/Income and
Account Title Income from Hostels/Dormitories and Other Like Facilities

Description This account is used to recognize the fees/charges for the use of
hostels, dormitories, cottages, guest houses, restaurants, canteen,
cafeterias, dormitory, staff houses, lodging houses and other
similar facilities. This account shall be closed to the
156
Account Title Slaughterhouse Operation
Description This account is used to recognize the collections from the
operations of slaughterhouse which includes rentals of spaces for
warehousing, livestock slaughter fees and the like. This account
account.
Account Title Income from Printing and Publication

Description This account is used to recognize the income from sale of printed
forms, materials or other publications. This account shall be
Account Title Sales Revenue

Description This account is used to recognize the income from sale of
merchandise and other inventory items and services in the regular
course of business. The balance of this account net of sales
discount shall be closed to the Revenue/Income and Expense
Summary account.
Account Title Sales Discounts

Description This account is used to recognize discounts on sale of goods,
medicines and other inventory items, and services. This account
shall be deducted from Sales Revenue account.
Account Title Hospital Fees

Description This account is used to recognize the fees/charges for hospital
services rendered to patients including medical, dental and
laboratory services. The balance of this account net of discounts
and free services shall be closed to the Revenue/Income and
Account Title Hospital Discounts, Allowances and Free Services

Description This account is used to recognize the amount of discounts,
allowances and assistance given to pay indigent patients, senior
citizens, government employees and their dependents. This
account shall be deducted from Hospital Fees account.
157
Account Title Guarantee Income
Description This account is used to recognize the income earned from
guarantees extended by government corporations to authorized
borrowers. This shall also include fees collected from lending
institutions participating in the agricultural guarantee program.
Summary account.
Account Title Fidelity Insurance Income

Description This account is used to recognize the collection of premiums paid
by the entity for the fidelity bonds of accountable officers. This
Summary account.
Account Title Dividend Income

Description This account is used to recognize cash dividends earned and/or
actually collected on equity securities held as held for trading,
designated at fair value through surplus/profit or deficit/loss,
available for sale and investments in non-marketable equity
securities by the government corporations. This account shall be
Account Title Interest Income

Description This account is used to recognize the interest earned and/or
actually collected on loans and receivables, investments and bank
deposits/financial assets. This account shall be closed to the
Subsidiary Ledgers:
04 – Due from Bangko Sentralng Pilipinas
05 – Due from Other Banks
06 – Financial Assets Held for Trading
07 – Financial Assets Designated at Fair Value through
08 – Available for Sale (AFS) Financial Assets
09 – Held to Maturity (HTM) Financial Assets
10 – Unquoted Debt Securities Classified as Loans
11 – Loans and Receivables
12 – Loans and Receivables Arising from Repurchase
Agreements Certificates of Assignment/Participation with
Recourse and Securities Lending and Borrowing
Transactions
158
13 – Derivatives with Positive Fair Value for Hedging
14 – Sales Contract Receivable
99 – Others
Note: 01 to 03 are assigned SL codes in RCA for NGAs
Account Title Share in the Profit/Revenue of Joint Venture

Description This account is used to recognize the share of government entities
from the profit of joint venture operations under the equity
method of accounting or share in the revenue of joint venture.
Summary account.
Account Title Fines and Penalties-Business Income

Description This account is used to recognize the fines and penalties charged
for delayed or non-compliance with business regulatory
requirements. This account shall be closed to the
Account Title Insurance/Reinsurance Premium

Description This account is used to recognize premiums received for life/third
party liability/property and other non-life insurance and
reinsurance. This account is also used to recognize premiums on
insurance policies written by Philippine Crop Insurance
Corporation (PCIC). The balance of this account net of premium
discounts, returns and cancellations and premium reserves shall
be closed to the Revenue/Income and Expense Summary account.
Account Title Insurance/Reinsurance Premium Discount

Description This account is used by PCIC to recognize the amount of
premium discounts granted to assured farmers/lending
institutions. This account shall be deducted from
Insurance/Reinsurance Premium account.
Account Title Returns and Cancellations of Insurance/Reinsurance Premiums

Description This account is used by PCIC to recognize the premiums returned
to assured farmers and/or lending institutions arising from
insurance cancellations. This account shall be deducted from
159
Account Title Insurance/Reinsurance Premium Reserves
Description This account is used by PCIC to recognize the required reserve
portion of the premium. Credit this account for the matured or
lapsed policy. This account shall be deducted from
Account Title Income from Acquired/Foreclosed Assets

Description This account is used to recognize income from
acquired/foreclosed property including income from the
repurchase of dacioned assets, which are redeemed by the owners
within the redemption period or extended redemption period.
Summary account.
Account Title Members' Contribution

Description This account is used to recognize the insurance premiums
contributed by members to the social insurance fund and
contributions and premiums earned as considerations for the
various risks insured against and the payment of benefits to the
insured or beneficiaries. This account shall be closed to the
Account Title Share in the Profit/Revenue of Associates/Affiliates

Description This account is used to recognize the share in the profit of an
associate/affiliate under the equity method of accounting. This
Summary account.
Account Title Demurrage Revenue

Description This account is used to recognize income earned for detaining
freight cars, trucks or other ships beyond the stipulated free time
for loading and unloading; and storage charge on goods in transit
not called for within a reasonable or set time. This account shall
Account Title Income from Gaming Operations

Description This account is used to recognize the gross sales from the major
game operations of the Philippine Charity Sweepstakes Office
160
(PCSO) such as lotto, sweepstakes, keno games and the like.
This is also used to recognize winnings and other income
generated by the Philippine Amusement and Gaming Corporation
(PAGCOR) from gaming operations such as peso table game, slot
machine, dollar pit, intercity/casino link and electronic gaming
and the like. This account shall be closed to the Revenue/Income
Account Title Unclaimed Prizes

Description This account is used to recognize the amount of unclaimed prizes
of winners of games, lottery and other competitive and
promotional activities. This account shall be closed to the
Account Title Royalty Fees

Description This account is used to recognize income earned for giving rights
to contractors/operators to explore, develop and utilize the long
term assets of the government. This account shall be closed to
the Revenue/Income and Expense Summary account.
Account Title Assessment Income

Description This account is used by PDIC to recognize the amount of
amortization of the earned portion of assessments collected from
member banks. This account shall be closed to the
Account Title Management Fees

Description This account is used to recognize management fees
received/imposed by the government corporations for the
implementation of projects of other entities and other
management service fees. This is also used by Philippine
Retirement Authority (PRA) to recognize fees due from its
accredited banks and harmonization fees collected pursuant to
Board Resolution No. 92 series of 2007. This account shall be
Account Title Visitorial Fees

Description This account is used by PRA to recognize the annual fees due
from retirees that have converted their pre-requisite deposits into
active investments. This account shall be closed to the
161
Account Title Admission Fees

Description This account is used to recognize the income from tour groups
handled by tour operators and other admission fees received by
government corporations from operations. This account shall be
Account Title Annual Fees

Description This account is used to recognize the fees charged by PRA on
retiree applicant upon joining the Special Resident Retirees Visa
Program. This account shall be closed to the Revenue/Income
Account Title Other Business Income

Description This account is used to recognize other business income not
falling under any of the specific business income accounts. This
Summary account.
03 Assistance and Subsidy

01 Assistance and Subsidy
Account Title Subsidy from National Government

Description This account is used by non-GBEs to recognize NCA received;
constructive receipt of Non-Cash Availment Authority (NCAA)
for advanced payments made by foreign creditors and donors;
constructive receipt of NCA for TRAs and Tax Expenditure Fund
(TEF), budgetary support fund from the NG; and adjustments for
lapsed NCA. This account shall be closed to the
Account Title Subsidy from Other National Government Agencies

Description This account is used to recognize financial assistance received in
cash or in kind from other national government entities. This
Summary account.
162
Account Title Assistance from Local Government Units
Description This account is used to recognize the amount of funds/assets
transferred from LGUs (Province, City, Municipality or
Barangay). This account shall be closed to the Revenue/Income
Account Title Assistance from Government Corporations

transferred from government corporations. This account shall be
Account Title Subsidy from Other Funds

transferred from other funds. This account shall be closed to the
Account Title Subsidy from Central Office

Description This account is used to recognize amount of subsidy received by
the Regional Office/Staff Bureau/Operating Unit from the Central
Office. This account shall be closed to the Revenue/Income and
Account Title Subsidy from Regional Office/Staff Bureau

Description This account is used to recognize amount of subsidy received by
the Operating Unit from the Regional Office/Staff Bureau. This
Summary account.
04 Shares, Grants and Donations

01 Shares
Account Title Share from National Wealth

Description This account is used to recognize share of government entities
from the utilization/development of the national wealth. This
Summary account.
163
Account Title Share from PAGCOR/PCSO
Description This account is used to recognize share of government entities
from PAGCOR and PCSO. This account shall be closed to the
Account Title Share from Earnings of Government Corporations

Description This account is used to recognize the mandatory/statutory shares
of government entities from receipts of government corporations
other than PAGCOR and PCSO. This account shall be closed to
02 Grants and Donations
Account Title Income from Grants and Donations in Cash

Description This account is used to recognize all grants and donations in cash
received from other levels of government, private sectors or
international institutions with or without restrictions or
conditions. Grants and Donations in Cash which are not treated
as receipts automatically appropriated shall be closed to
Account Title Income from Grants and Donations in Kind

Description This account is used to recognize all grants and donations in kind
received from other levels of government, private sectors or
international institutions with or without restrictions or
conditions. Grants and donations in kind which are not treated as
receipts automatically appropriated shall be closed to
05 Gains
01 Gains
Account Title Gain on Foreign Exchange (FOREX)

Description This account is used to recognize the gain in the revaluation of
foreign denominated assets and liabilities including actual gain
incurred in the conversion of foreign currency to local currency at
balance sheet date. This account shall be closed to the
164
Account Title Gain on Sale/Redemption/Transfer of Investments
Description This account is used to recognize realized gains on
sale/redemption/transfer of investments such as financial assets
held for trading, financial assets designated at fair value through
surplus/profit or deficit/loss and non-trading financial assets.
Summary account.
Account Title Gain on Sale of Investment Property

Description This account is used to recognize gains on sale of capital assets
held to earn rentals and/or held for capital appreciation. This
Summary account.
Account Title Gain on Sale of Property, Plant and Equipment

Description This account is used to recognize gains on sale of government
PPEs including bank premises. This account shall be closed to
Account Title Gain on Initial Recognition of Biological Assets

Description This account is used to recognize gains on the initial recognition
of biological assets. This account shall be closed to the
Account Title Gain on Sale of Biological Assets

Description This account is used to recognize gains on the sale of biological
assets. This account shall be closed to the Revenue/Income and
Account Title Gain from Changes in Fair Value Less Cost to Sell of Biological
Assets Due to Physical Change
Description This account is used to recognize gains from changes in fair value
less cost to sell of biological assets due to physical change. This
Summary account.
165
Account Title Gain from Changes in Fair Value Less Cost to Sell of Biological
Assets Due to Price Change
Description This account is used to recognize gains from changes in fair value
less cost to sell of biological assets due to price change. This
Summary account.
Account Title Gain on Sale of Agricultural Produce

Description This account is used to recognize the fair value of the harvests
and offspring of biological assets at the point of harvest. This
Summary account.
Account Title Gain on Sale of Intangible Assets

Description This account is used to recognize gains on the sale of intangible
Account Title Gain from Changes in Fair Value of Financial Instruments

Description This account is used to recognize the gain from changes in fair
value of financial instruments such as financial assets and
liabilities held for trading, financial assets and liabilities
designated at fair value through surplus/profit or deficit/loss and
non-trading financial assets and liabilities. This account shall be
Account Title Gain on Initial Recognition of Agricultural Produce

Description This account is used to recognize gains on the initial recognition
of agricultural produce. This account shall be closed to the
Account Title Gain on Sale/Redemption/Transfer of Financial Liabilities

Description This account is used to recognize gains from
sale/redemption/transfer of financial liabilities designated at fair
value through surplus/profit or deficit/loss, non-trading financial
liabilities and held for trading securities. This account shall be
166
Account Title Gain from Fair Value Adjustment in Hedge Accounting
Description This account is used to recognize gains from remeasuring the
derivative hedging instruments at fair value or the foreign
currency component of the carrying amount of a non-derivative
hedging instrument. This also refers to gains arising from the
change in fair value of the hedged items in a fair value hedge.
Summary account.
Account Title Gain on Securitization

Description This account is used to recognize the income recognized after full
redemption of certificates or at the end of term of mortgage-
backed securities. This account shall be closed to the
Account Title Gain from Changes in Fair Value of Investment Property

Description This account is used to recognize the gain from changes in fair
value of investment property. This account shall be closed to the
Account Title Other Gains

Description This account is used to recognize gains which are not classified
under any of the specific gain accounts. This account shall be
06 Other Non-Operating Income

01 Sale of Assets
Account Title Sale of Garnished/Confiscated/Abandoned/Seized Goods and

Property
Description This account is used to recognize the receipts derived from the
sale of garnished/confiscated/abandoned/seized goods or property
title of which had been decided in favor of the government. This
Summary account.
167
Account Title Sale of Unserviceable Property
Description This account is used to recognize the proceeds from the sale of
disposed/unserviceable assets. This account shall be closed to the
02 Reversal of Impairment Loss
Account Title Reversal of Impairment Loss

Description This account is used to recognize the reversal of impairment loss.
Summary account.
03 Miscellaneous Income
Account Title Proceeds from Insurance/Indemnities

Description This account is used to recognize the proceeds from insurance
claims and/or indemnities. This account shall be closed to the
Account Title Miscellaneous Income

Description This account is used to recognize income earned which is not
classified under the specific income accounts. This account shall
5 EXPENSES
5 Expenses
01 Personnel Services
01 Salaries and Wages
Account Title Salaries and Wages-Regular

Description This account is used to recognize the pay proper for services
rendered of government employees occupying regular plantilla
positions. This account shall be closed to the Revenue/Income
168
Account Title Salaries and Wages-Casual/Contractual
Description This account is used to recognize the pay proper for services
rendered by employees contracted/hired to perform regular entity
functions and specific vital activities or services which cannot be
provided by the regular or permanent staff of the entity. They are
considered employees of the hiring entity limited to the year
when their services are reasonably required. This includes
payment for services rendered by substitute and part-time
teachers. This account shall be closed to the Revenue/Income
02 Other Compensation
Account Title Personnel Economic Relief Allowance (PERA)

Description This account is used to recognize 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. This account shall be closed to the
Account Title Representation Allowance (RA)

Description This account is used to recognize the monthly representation
allowance granted to authorized officials and employees in the
actual performance of their respective functions, both
commutable and reimbursable. This account shall be closed to
Account Title Transportation Allowance (TA)

Description This account is used to recognize the monthly transportation
allowance granted to authorized officials and employees in the
actual performance of their respective functions, both
commutable and reimbursable. This account shall be closed to
Account Title Clothing/Uniform Allowance

Description This account is used to recognize the fixed amount granted to
authorized government officials/employees for the
upkeep/replacement of clothing/uniform paid in cash or in kind.
169
Summary account.
Account Title Subsistence Allowance

authorized government officials/employees to cover cost of
accommodations, meals, and incidental expenses incurred by
employees who are on official business. This account shall be
Account Title Laundry Allowance

authorized government officials/employees to cover the cost of
laundry of uniform of employees who are on official business.
Summary account.
Account Title Quarters Allowance

authorized government officials/employees to cover cost of
accommodation or suitable and adequate living quarters incurred
by employees who are on official business. This account shall be
Account Title Productivity Incentive Allowance

Description This account is used to recognize the fixed amount granted to
authorized government officials/employees for at least
satisfactory performance in the discharge of their official duties.
Summary account.
Account Title Overseas Allowance

Description This account is used to recognize the allowances granted to
authorized government officials/employees on foreign
assignments/missions. This account shall be closed to the
170
Account Title Honoraria
Description This account is used to recognize 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. This account
account.
Account Title Hazard Pay

Description This account is used to recognize 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 them injury/sickness/death/harmful change.
Summary account.
Account Title Longevity Pay

Description This account is used to recognize the additional compensation to
government officials and employees based on years of service
rendered to the government. This account shall be closed to the
Account Title Overtime and Night Pay

Description This account is used to recognize 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. This
Summary account.
Account Title Year End Bonus

Description This account is used to recognize the amount granted annually to
government officials and employees as authorized by law. This
Summary account.
171
Account Title Cash Gift
Description This account is used to recognize the amount granted annually in
addition to the year-end bonus to government officials and
employees as authorized by law. This account shall be closed to
Account Title Other Bonuses and Allowances

Description This account is used to recognize other authorized bonuses and
allowances granted to government officials/employees not falling
under any of the specific other compensation accounts. This
Summary account.
Subsidiary Ledgers:
11 – Collective Negotiation Agreement-Civilian
12 – Productivity Enhancement Incentive-Civilian
13 – Productivity Enhancement Incentive-Military/Uniformed
Personnel
14 – Performance Based Bonus-Civilian
15 – Performance Based Bonus-Military/Uniformed
Personnel
34 – Meal Allowance
35 – Rice Allowance
36 – Children's Allowance
37 – Teller's Allowance
38 – Medical, Dental, and Hospitalization Allowance
99 – Other Bonuses and Allowances
Note: 01 to 10, 16 to 33 are assigned SL codes

in RCA for NGAs
03 Personnel Benefit Contributions
Account Title Retirement and Life Insurance Premiums

Description This account is used to recognize the government’s share in
premium contributions to the Government Service Insurance
System and other retirement and life benefit systems. This
Summary account.
172
Account Title Pag-IBIG Contributions
Description This account is used to recognize the government's share in
premium contributions to the Home Development Mutual Fund.
Summary account.
Account Title PhilHealth Contributions

premium contributions to the Philippine Health Insurance
Corporation. This account shall be closed to the Revenue/Income
Account Title Employees Compensation Insurance Premiums

premium contributions to the Employees' Compensation
Commission (ECC). This account shall be closed to the
Account Title Provident/Welfare Fund Contributions

Description This account is used to recognize the amount contributed by the
government for the employees’ provident or welfare fund. This
Summary account.
04 Other Personnel Benefits
Account Title Pension Benefits

Description This account is used to recognize the amount of pension to
government employees occupying regular plantilla positions.
Summary account.
Account Title Retirement Gratuity

Description This account is used to recognize the amount of the total
creditable services of retirees converted into gratuity months
multiplied by the highest salary received. This account shall be
173
Account Title Terminal Leave Benefits

Description This account is used to recognize the money value of the
accumulated leave credits of government officials and
employees. This account shall be closed to the Revenue/Income
Account Title Other Personnel Benefits

Description This account is used to recognize the amount contributed by the
government for the employees’ benefits not falling under any of
the specific other personnel accounts. This account shall be
02 Maintenance and Other Operating Expenses

01 Traveling Expenses
Account Title Traveling Expenses-Local

Description This account is used to recognize the costs incurred in the
movement/transport of government directors, officers and
employees within the country. This includes transportation,
travel per diems, ferriage, and all other related expenses. This
Summary account.
Account Title Traveling Expenses-Foreign

Description This account is used to recognize the costs incurred in the
movement/transport of government directors, officers and
employees outside the country. This includes transportation,
travel per diems, passport and visa processing and all other
related expenses. This account shall be closed to the
02 Training and Scholarship Expenses
Account Title Training Expenses

Description This account is used to recognize 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
174
all other training related expenses. This account shall be closed
Account Title Scholarship Grants/Expenses

Description This account is used to recognize the costs of scholarships
granted by the government to individuals in the pursuit of further
learning, study or research. This account shall be closed to the
03 Supplies and Materials Expenses
Account Title Office Supplies Expenses

Description This account is used to recognize 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-users for government operations. This also
includes stationeries and other office supplies used by the banks
or issued from the stockroom to the different departments and
branches of the banks, excluding those chargeable to customers.
Summary account.
Account Title Accountable Forms Expenses

Description This account is used to recognize the cost of accountable forms
with or without money value such as official receipts, passports,
tickets, permit/license plates, and the like, issued to end-users.
Summary account.
Account Title Non-Accountable Forms Expenses

Description This account is used to recognize the cost of non-accountable
forms such as pre-printed application forms, tax returns forms,
accounting forms and the like, issued to end-users. This account
account.
Account Title Animal/Zoological Supplies Expenses

Description This account is used to recognize the costs of food, medicines,
veterinary and other maintenance needs of animals issued for use
in government parks, zoos, wildlife sanctuaries and botanical
175
gardens. This also includes supplies issued for zoological
researches, preservations, breeding and other purposes. This
Summary account.
Account Title Food Supplies Expenses

Description This account is used to recognize the cost of food issued to
hospital/rehabilitation patients, jail inmates and the like. This
Summary account.
Account Title Welfare Goods Expenses

Description This account is used to recognize 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. This account
account.
Account Title Drugs and Medicines Expenses

Description This account is used to recognize the costs of drugs and
medicines issued to end-users for government operations. This
Summary account.
Account Title Medical, Dental and Laboratory Supplies Expenses

Description This account is used to recognize the costs of medical, dental and
laboratory supplies issued to end-users for government
operations. This account shall be closed to the Revenue/Income
Account Title Fuel, Oil and Lubricants Expenses

Description This account is used to recognize the costs of fuel, oil, lubricants,
coals and the like issued for use of government vehicles, running
power plants and other equipment in connection with government
operations/projects. This account shall be closed to the
176
Account Title Agricultural and Marine Supplies Expenses
and other marine and agricultural supplies issued in government
operations/projects. This includes supplies issued for aquaculture
researches, environment protections/preservations and the like.
Summary account.
Account Title Textbooks and Instructional Materials Expenses

Description This account is used to recognize the cost of books and
instructional materials distributed to public schools including
flipcharts, video clips/slides, and the like. This account shall be
Account Title Military, Police and Traffic Supplies Expenses

Description This account is used to recognize 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. This account shall be
Account Title Chemical and Filtering Supplies Expenses

Description This account is used to recognize the cost of chemical, water
treatment, filtering supplies and the like used in government
Account Title Linens and Beddings Expenses

Description This account is used to recognize the cost of linens and beddings,
including curtains, scrub suits and patients' gowns used in
government hospitals/dormitories. This account shall be closed
Account Title Semi-Expendable Machinery and Equipment Expenses

Description This account is used to recognize the cost of semi-expendable
machinery and equipment used in operation. This account shall
177
Account Title Semi-Expendable Furniture, Fixtures and Books Expenses

Description This account is used to recognize the cost of semi-expendable
furniture, fixtures and books used in operation. This account
account.
Account Title Other Supplies and Materials Expenses

Description This account is used to recognize the cost of inventories issued to
end-users not otherwise classified under the specific inventory
expense accounts. This account shall be closed to the
04 Utility Expenses
Account Title Water Expenses

Description This account is used to recognize the cost of water consumed in
government operations/projects. This account shall be closed to
Account Title Electricity Expenses

Description This account is used to recognize the cost of electricity consumed
in government operations/projects. This account shall be closed
Account Title Gas/Heating Expenses

Description This account is used to recognize the gas/heating costs incurred
by foreign-based government entities during winter months. This
Summary account.
Account Title Other Utility Expenses

Description This account is used to recognize the cost of utilities consumed in
government operations/projects not falling in under any specific
utility expense account. This account shall be closed to the
178
05 Communication Expenses
Account Title Postage and Courier Services

Description This account is used to recognize the cost of
delivery/transmission of official messages, mails, documents,
records and the like. This account shall be closed to the
Account Title Telephone Expenses

Description This account is used to recognize the cost of transmitting
messages through telephone lines (mobile or landlines), faxes,
telex and the like whether prepaid or postpaid. This account shall
Subsidiary Ledgers:
01 – Mobile
02 – Landline
Account Title Internet Subscription Expenses

Description This account is used to recognize the cost of using internet
services in government operations. This account shall be closed
Account Title Cable, Satellite, Telegraph and Radio Expenses

Description This account is used to recognize the cost of using
cable/satellite/telegram/radio services. This account shall be
06 Awards/Rewards, Prizes and Indemnities
Account Title Awards/Rewards Expenses

Description This account is used to recognize the amount given in recognition
of any civic or professional achievement and excellent
performance. This also includes amounts paid to employers and
other entities for prompt remittance of contributions and related
income/charges to social security and housing benefit services
entities. This account shall be closed to the Revenue/Income and
179
Account Title Prizes
Description This account is used to recognize the amount paid to winners and
sellers of games, lottery and other competitive and promotional
activities including agents’ share/commission. This account shall
Account Title Indemnities

Description This account is used to recognize the amount awarded by
courts/administrative bodies to persons affected by the
destruction of property/death/injury. This account shall be
07 Survey, Research, Exploration and Development Expenses
Account Title Survey Expenses

Description This account is used to recognize the cost incurred in the conduct
of cadastral, structural, topographical, statistical and other type of
surveys conducted by government entities. This account shall be
Account Title Research, Exploration and Development Expenses

Description This account is used to recognize 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. This account shall be closed to
08 Demolition/Relocation and Desilting/Drilling/Dredging Expenses
Account Title Demolition and Relocation Expenses

Description This account is used to recognize the costs of demolition of
structures and relocation of settlers and structures affected by
government projects. This account shall be closed to the
Account Title Desilting, Drilling and Dredging Expenses

Description This account is used to recognize the costs incurred in removing
large accumulation of decomposed litters and other organic
180
debris in and deepening of canals, sewerage, rivers, creeks, and
the like. This account shall be closed to the Revenue/Income and
09 Generation, Transmission and Distribution Expenses
Account Title Generation, Transmission and Distribution Expenses

Description This account is used to recognize the costs of generation,
transmission and distribution of water, electricity,
information/communication, power and other related services
intended for sale and/or redistribution. This account shall be
10 Confidential, Intelligence and Extraordinary Expenses
Account Title Confidential Expenses

Description This account is used to recognize the amount paid for expenses
related to surveillance/confidential activities in civilian
government entities that are intended to support the mandate or
operations of the entity. This account shall be closed to the
Account Title Intelligence Expenses

related to intelligence information gathering activities of
uniformed and military personnel, and intelligence practitioners
that have direct impact to national security. The release of
Intelligence Fund is subject to the approval of the President of the
Philippines. This account shall be closed to the Revenue/Income
Account Title Extraordinary and Miscellaneous Expenses

incidental to the performance of official functions, such as:
meetings and conferences, public relations, educational, cultural
and athletic activities, membership fees in government
organizations, etc. This account shall be closed to the
Subsidiary Ledgers:
01 – Extraordinary Expenses
02 – Miscellaneous Expenses
181
11 Professional Services
Account Title Legal Services

Description This account is used to recognize 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. This
Summary account.
Account Title Auditing Services

Description This account is used to recognize the cost of operating expenses
provided by auditees for auditing services rendered by the
Commission on Audit. This account shall be closed to the
Account Title Consultancy Services

Description This account is used to recognize 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 entity. This account shall be closed to the Revenue/Income
Account Title Other Professional Services

Description This account is used to recognize the cost of other professional
services contracted by the entity not otherwise classified under
any of the specific professional services accounts. This account
account.
12 General Services
Account Title Environment/Sanitary Services

Description This account is used to recognize the cost of services contracted
for the upkeep and sanitation of the public places. This includes
the cost of garbage and hospital waste collection and disposal.
Summary account.
182
Account Title Janitorial Services
Description This account is used to recognize the cost of janitorial services
contracted by the government. This account shall be closed to
Account Title Security Services

Description This account is used to recognize the cost of security services
contracted by the government. This account shall be closed to
Account Title Other General Services

Description This account is used to recognize the cost of other general
services contracted by the entity not otherwise classified under
any of the specific general services accounts. This account shall
13 Repairs and Maintenance
Account Title Repairs and Maintenance-Investment Property

Description This account is used to recognize the cost of repairs and
maintenance on buildings/warehouses and other structures held
for rent/lease or held for capital appreciation or both. This
Summary account.
Account Title Repairs and Maintenance-Land Improvements

maintenance on aquaculture structures and other land
improvements constructed/acquired/developed for public use.
Summary account.
Subsidiary Ledgers:
01 – Aquaculture Structures
02 – Reforestation Projects
99 – Other Land Improvements
183
Account Title Repairs and Maintenance-Infrastructure Assets
maintenance on road networks; flood control systems; sewer
systems; water supply systems; power supply systems;
communication networks; seaport systems; airport systems;
parks, plazas, monuments; railway systems; plant-utility plant in
service (UPIS) and other infrastructure assets. This account shall
Subsidiary Ledgers:
01 – Road Networks
02 – Flood Control Systems
03 – Sewer Systems
04 – Water Supply Systems
05 – Power Supply Systems
06 – Communication Networks
07 – Seaport Systems
08 – Airport Systems
09 – Parks, Plazas and Monuments
10 – Railway Systems
11 – Plant-Utility Plant in Service (UPIS)
99 – Other Infrastructure Assets
Account Title Repairs and Maintenance-Buildings and Other Structures

maintenance on office buildings; school buildings; hospitals and
health centers; markets; slaughterhouses; hostels and dormitories;
water plant, structures and improvements and other structures.
Summary account.
Subsidiary Ledgers:
01 – Buildings
02 – School Buildings
03 – Hospitals and Health Centers
04 – Markets
05 – Slaughterhouses
06 – Hostels and Dormitories
07 – Water Plant, Structures and Improvements
99 – Other Structures
Account Title Repairs and Maintenance-Machinery and Equipment

maintenance on machinery; office equipment; information and
184
communication technology (ICT) equipment; agricultural and
forestry equipment; marine and fishery equipment; airport
equipment; communication equipment; construction and heavy
equipment; disaster response and rescue equipment; military,
police and security equipment; medical equipment; printing
equipment; sports equipment; technical and scientific equipment;
gaming equipment and other machinery and equipment. This
Summary account.
Subsidiary Ledgers:
01 – Machinery
02 – Office Equipment
03 – Information and Communication Technology 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
10 – Military, Police and Security Equipment
11 – Medical Equipment
12 – Printing Equipment
13 – Sports Equipment
14 – Technical and Scientific Equipment
15 – Gaming Equipment
99 – Other Machinery and Equipment
Account Title Repairs and Maintenance-Transportation Equipment

maintenance on motor vehicles; trains; aircrafts; watercrafts; and
other transportation equipment. This account shall be closed to
Subsidiary Ledgers:
01 – Motor Vehicles
02 – Trains
03 – Aircrafts and Aircrafts Ground Equipment
04 – Watercrafts
99 – Other Transportation Equipment
Account Title Repairs and Maintenance-Furniture and Fixtures

maintenance on furniture and fixtures. This account shall be
185
Account Title Repairs and Maintenance-Leased Assets
maintenance of buildings; and other leased assets acquired by a
lessee under a finance lease contract/agreement. This account
account.
Subsidiary Ledgers:
01 – Buildings and Other Structures
02 – Machinery and Equipment
03 – Transportation Equipment
04 – Furniture and Fixtures
99 – Other Leased Assets
Account Title Repairs and Maintenance-Leased Assets Improvements

maintenance of improvements on land, buildings and other assets
occupied by a lessee under an operating lease. This account shall
Subsidiary Ledgers:
01 – Land
02 – Buildings
99 – Other Leased Assets Improvements
Account Title Restoration and Maintenance-Heritage Assets

Description This account is used to recognize the cost of restoration and
maintenance of heritage assets. This account shall be closed to
Subsidiary Ledgers:
01 – Historical Buildings
02 – Works of Arts and Archeological Specimens
99 – Other Heritage Assets
Account Title Repairs and Maintenance-Service Concession Assets

Description This account is used to recognize the cost of restoration and
maintenance of service concession assets. This account shall be
Subsidiary Ledgers:
186
09 – Parks, Plaza and Monuments
99 – Other Service Concession Assets
Account Title Repairs and Maintenance-Exploration and Evaluation Assets

maintenance of exploration and evaluation assets. This account
account.
Subsidiary Ledgers:
01 – Underground Tunnel
02 – Mining Equipment
99 – Other Exploration and Evaluation Assets
Account Title Repairs and Maintenance-Semi-Expendable Machinery and

Equipment
maintenance of semi-expendable machinery and equipment. This
Summary account.
Subsidiary Ledgers:
01 – Machinery
03 – Information and Communications Technology
187
Account Title Repairs and Maintenance-Semi-Expendable Furniture, Fixtures

and Books
maintenance of semi-expendable furniture, fixtures and books.
Summary account.
Subsidiary Ledgers:
02 – Books
Account Title Repairs and Maintenance-Other Property, Plant and Equipment

maintenance of other property, plant and equipment not falling
under any of the specific property, plant and equipment account.
Summary account.
Subsidiary Ledgers:
01 – Work/Zoo Animals
99 – Other Property, Plant and Equipment
14 Financial Assistance/Subsidy
Account Title Financial Assistance to NGAs

Description This account is used by government corporations to recognize
financial assistance to NGAs through transfer of funds or assets.
Summary account.
Account Title Financial Assistance to Local Government Units

Description This account is used to recognize financial assistance to LGUs
through transfer of funds or assets for government
programs/projects/activities. This account shall be closed to the
188
Account Title Financial Assistance to NGOs/POs
Description This account is used to recognize the financial assistance to
NGOs/POs through transfer of funds or assets for implementation
of government programs/projects. This account shall be closed to
Account Title Subsidy to Regional Offices/Staff Bureaus

transferred by the Central Office to the Regional Offices/Staff
Bureaus of a government corporation. This account shall be
Account Title Subsidy to Operating Units

transferred by the Central Office/Regional Offices/Staff Bureaus
to the Operating Units of a government corporation. This
Summary account.
Account Title Subsidy to Other Funds

transferred to other funds. This account shall be closed to the
Account Title Financial Assistance to Government Corporations

Description This account is used to recognize financial assistance to other
government corporations through transfer of funds or assets for
government programs/projects/activities. This account shall be
Account Title Contribution to AFP Modernization

Description The account is used to recognize the 50% share of the AFP from
proceeds of non-sale transactions, net of direct expenses,
pursuant to EO 309, prescribing the guidelines, rules and
regulations for the distribution of proceeds of leases, joint
ventures and transactions other than sale involving portions of
Metro Manila Camps under RA 7227, as amended by RA 7917.
189
Summary account.
Account Title Financial Assistance/Subsidy-Others

Description This account is used to recognize the financial assistance given to
individuals and institutions other than government entities or
NGOs/POs for government programs/projects/activities. This
Summary account.
15 Taxes, Insurance Premiums and Other Fees
Account Title Taxes, Duties and Licenses

Description This account is used to recognize the amount of taxes, duties,
licenses and other fees except income tax due to regulatory
entities. This also includes taxes on interest income on savings
deposits, time deposits, and government securities of the bond
sinking fund/other funds. This account shall be closed to the
Account Title Fidelity Bond Premiums

Description This account is used to recognize the amount of premiums paid
by the entity for the fidelity bonds of accountable officers. This
Summary account.
Account Title Insurance Expenses

Description This account is used to recognize the amount of premiums paid
by the entity for the insurable risks of government property. This
Summary account.
Account Title Income Tax Expenses

Description This account is used to recognize the amount of income tax
payable for a particular period, computed based on taxable
income multiplied by applicable corporate income tax rate. This
Summary account.
190
16 Labor and Wages
Account Title Labor and Wages

Description This account is used to recognize the costs incurred for labor and
wages. These include labor payroll paid for projects undertaken
by administration, for agricultural activities involving hired labor,
student wages, etc. This account shall be closed to the
17 Members’ Benefits
Account Title Members’ Benefits

Description This account is used to recognize amount of benefits given to
members and their beneficiaries by SSS, GSIS, PhilHealth, ECC,
Pag-IBIG and similar institutions administering members’
premium contributions or members’ fund. This includes benefits
such as hospitalization, medicines, injury, disability, death,
pension and retirement. This account shall be closed to the
99 Other Maintenance and Operating Expenses
Account Title Advertising, Promotional and Marketing Expenses

Description This account is used to recognize the costs incurred for
advertisement in newspapers, magazines, televisions, radio and
other forms of media, such as expenses to: (a) promote and
market products and services; and (b) publish invitations to bid
and other authorized government advertisements. This also
includes commission or broker’s fee paid to agents, brokers or
others for marketing and other related activities done for the
government entities. This account shall be closed to the
Account Title Printing and Publication Expenses

Description This account is used to recognize the costs of printing and
binding of manuscripts/documents, forms, manuals, brochures,
pamphlets, and the like. This account shall be closed to the
191
Account Title Representation Expenses
Description This account is used to recognize the expenses incurred for
official meetings/conferences and other official functions. This
Summary account.
Account Title Transportation and Delivery Expenses

Description This account is used to recognize the cost of transporting
goods/merchandise sold in the course of business operations.
This includes the cost of moving entity’s own people and
property from one station to another. This account shall be closed
Account Title Rent/Lease Expenses

Description This account is used to recognize rental/lease of land, buildings,
facilities, equipment, vehicles, machineries, and the like. This
also includes rental of living quarters for entities without
available quarters to house their officials entitled to the same.
Summary account.
Account Title Membership Dues and Contributions to Organizations

Description This account is used to recognize membership
fees/dues/contributions by the entity and/or its officials and
employees to recognized/authorized/accredited professional
organizations as authorized in its approved annual budget. This
Summary account.
Account Title Subscription Expenses

Description This account is used to recognize the cost of subscriptions to
newspapers, libraries and other reading materials. This account
account.
Account Title Donations

Description This account is used to recognize the amount of donations to
other levels of government and individuals and institutions. This
192
Summary account.
Account Title Litigation/Acquired Assets Expenses

Description This account is used to recognize expenses incurred in connection
with litigation proceedings and registration/consolidation of
ownership of acquired assets, as well as those incurred in their
preservation/maintenance. This account shall be closed to the
Account Title International Mail Exchange Expenses

Description This account is used to recognize amount of expenses related to
delivery expenses, terminal dues, transit charges, inward land rate
and international conveyance expenses incurred by PhlPost. This
Summary account.
Account Title Directors and Committee Members' Fees

Description This account is used to recognize the per diems and allowances
paid to the Board of Directors and Committee Members. This
Summary account.
Account Title Lottery Draws Expenses

Description This account is used to recognize amount of expenses related to
holding of the lottery and sweepstakes draws being charged
including allowances of judges who were selected from the
public, PCSO officials and employees who were actual
participants in the actual drawing and witnessing of the winning
numbers, cost of airing, camera men, directors, etc. This account
account.
Account Title Documentary Stamps Expenses

Description This account is used to recognize amount of expenses incurred
for documentary stamps used by banks and government entities,
excluding those chargeable to customers. This account shall be
193
Account Title Fees and Commission Expenses
Description This refers to fees and commission expenses for services
covering intermediation, custodianship, underwriting and
securities dealership, securitization activities and other services
availed by the banks. This account shall be closed to the
Account Title Dividend Expenses

Description This refers to the amount of dividends payable by government
corporations to the National Government and/or its stockholders.
Summary account.
Account Title Underwriting Expenses

Description This account is used by PCIC to recognize the service fee being
charged by the insurance intermediaries for direct business,
premium on outward cessions under treaty or facultative
agreement with reinsurers, allowances granted to agricultural
technicians and non-PCIC claims adjusters for claim
investigation and verification. This account shall be closed to the
Subsidiary Ledgers:
01 – Service Fee
02 – Reinsurance Premium Ceded Treaty
03 – Reinsurance Premium Ceded Facultative
04 – Honoraria & Incentive to Agricultural Technicians and
Claims Adjusters
99 – Other Underwriting Expenses
Account Title Major Events and Conventions Expenses

Description This account is used to recognize the expenses incurred related to
the holding of major activities and/or events and conventions not
related to trainings being undertaken by government
corporations. This account shall be closed to the Revenue/Income
Account Title Crop/Non-Crop Insurance Benefits

Description This account is used to recognize the amount of actual
indemnities paid or payable by PCIC for insurance claims. This
194
account is also used to recognize the amount of actual expenses
incurred by PCIC to insured-farmers who are entitled to no claim
benefits. This account shall be closed to the Revenue/Income and
Subsidiary Ledgers:
01 – Losses-Claims Paid
02 – No Claim Bonus
99 – Other Crop/Non-Crop Insurance Benefits
Account Title Deposit Claims Pay-out Expenses

Description This account is used by PDIC to recognize the estimated losses
from valid deposit insurance claims paid and verified/validated
claims accrued during the year. This account shall be closed to
Account Title Loss Recoveries Ceded

Description This account is used by PCIC for the aggregate share of the
reinsurers on the claims and losses and adjustment expenses on
business ceded under treaty and facultative agreement. This
Summary account.
Account Title Loss Adjustment Expenses

Description This account is used by PCIC to recognize the gross expenses
incurred by an independent insurance adjuster in the adjustment
of claims and losses. This account shall be closed to the
Account Title Other Maintenance and Operating Expenses

Description This account is used to recognize other operating expenses not
falling under any of the specific maintenance and other operating
expense accounts. This account shall be closed to the
195
03 Financial Expenses
01 Financial Expenses
Account Title Management Supervision/Trusteeship Fees

Description This account is used to recognize 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 administrative aspects of bond issuance and ensures
that the borrower complies with the terms of the bond indenture,
including fees on supervision of the government corporations.
Summary account.
Account Title Interest Expenses

Description This account is used to recognize interest charges paid for the use
of borrowed money. This also includes discounts on treasury
bills and treasury bonds; premiums on bond investments; coupon
payments/interests on domestic and foreign bonds issued by the
government entities. This account shall be closed to the
Subsidiary Ledgers:
03 – Financial Liabilities Held for Trading
04 – Financial Liabilities Designated at Fair Value through
05 – Deposits
06 – Bills Payable
07 – Bonds Payable
08 – Unsecured Subordinated Debt
09 – Redeemable Preferred Shares
10 – Finance Lease Payment Payable
99 – Others
Note: 01 to 02 are assigned codes in RCA for NGAs
Account Title Guarantee Fees

Description This account is used to recognize guarantee fee paid by a debtor
government entity to the guarantor for the assurance to pay the
entity's obligation to the creditor as stipulated in the guarantee
clause. This account shall be closed to the Revenue/Income and
196
Account Title Bank Charges
Description This account is used to recognize the charges imposed by the
bank for various services rendered excluding interest charges.
This also includes cost of checkbooks, telegraphic transfers and
the like. This account shall be closed to the Revenue/Income
Account Title Commitment Fees

Description This account is used to recognize the commitment charges
imposed by creditors based on an agreed percentage of the
undrawn loan amount with foreign or domestic lending
institution. This account shall be closed to the Revenue/Income
Account Title Other Financial Charges

Description This account is used to recognize the charges not falling under
any of the specific financial expense accounts. This account shall
04 Direct Costs
01 Cost of Goods Manufactured
Account Title Direct Labor

Description This account is used to recognize 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. Credit this account to transfer to Work-in-Process
Inventory.
Account Title Manufacturing Overhead

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. Credit this account to transfer to Work-in-Process
Inventory.
197
Account Title Direct Materials
Description This account is used to recognize the amount of raw materials
and component parts used in the production which costs are
directly traceable to the products manufactured. Credit this
account to transfer to Work-in-Process Inventory.
02 Cost of Sales
Account Title Cost of Sales

Description This account is used to recognize the cost of merchandise
purchased/manufactured and sold in the course of business
05 Non-Cash Expenses
01 Depreciation
Account Title Depreciation-Investment Property

Description This account is used to recognize 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. This
Summary account.
Account Title Depreciation-Land Improvements

for the wear and tear of aquaculture structures and other land
improvements constructed/acquired/developed for public use in
Summary account.
Subsidiary Ledgers:
01 – Aquaculture Structures
99 – Other Land Improvements
Account Title Depreciation-Infrastructure Assets

for the wear and tear of road networks; flood control systems;
198
sewer systems; water supply systems; power supply systems;
communication networks; seaport systems; airport systems;
parks, plazas, monuments; railway systems; plant-utility plant in
service (UPIS) and other infrastructure assets in accordance with
the prescribed policy on depreciation. This account shall be
Subsidiary Ledgers:
09 – Parks, Plazas and Monuments
11 – Plant-Utility Plant in Service (UPIS)
99 – Other Infrastructure Assets
Account Title Depreciation-Buildings and Other Structures

for the wear and tear of office buildings; school buildings;
hospitals and health centers; markets; slaughterhouses; hostels
and dormitories; water plant, structures and improvements and
other structures in accordance with the prescribed policy on
depreciation. This account shall be closed to the
Subsidiary Ledgers:
01 – Buildings
02 – School Buildings
03 – Hospitals and Health Centers
04 – Markets
05 – Slaughterhouses
06 – Hostels and Dormitories
07 – Water Plant, Structures and Improvements
99 – Other Structures
Account Title Depreciation-Machinery and Equipment

for the wear and tear of machinery; office equipment; ICT
equipment; agricultural and forestry equipment; marine and
fishery equipment; airport equipment; communication equipment;
construction and heavy equipment; disaster response and rescue
199
equipment; military, police and security equipment; medical
equipment; printing equipment; sports equipment; technical and
scientific equipment; gaming equipment and other machinery and
Subsidiary Ledgers:
01 – Machinery
03 – Information and Communication Technology Equipment
Account Title Depreciation-Transportation Equipment

for the wear and tear of motor vehicles; trains; aircrafts;
watercrafts; and other transportation equipment in accordance
with the prescribed policy on depreciation. This account shall be
Subsidiary Ledgers:
01 – Motor Vehicles
02 – Trains
03 – Aircrafts and Aircrafts Ground Equipment
04 – Watercrafts
99 – Other Transportation Equipment
Account Title Depreciation-Furniture, Fixtures and Books

for the wear and tear of furniture and fixtures, and books in
Summary account.
200
Subsidiary Ledgers:
02 – Books
Account Title Depreciation-Leased Assets

for the wear and tear of buildings, and other assets under finance
lease contract/agreement in accordance with the prescribed policy
on depreciation. This account shall be closed to the
Subsidiary Ledgers:
99 – Other Leased Assets
Account Title Depreciation-Leased Assets Improvements

for the wear and tear of improvements on land, buildings and
other leased assets used in operations under operating lease
contract in accordance with the prescribed policy on depreciation.
Summary account.
Subsidiary Ledgers:
01 – Land
02 – Buildings
99 – Other Leased Assets Improvements
Account Title Depreciation-Heritage Assets

for the wear and tear of historical buildings, works of arts and
archeological specimens and other heritage assets in accordance
with the prescribed policy on depreciation. This account shall be
Subsidiary Ledgers:
01 – Historical Buildings
02 – Works of Arts and Archeological Specimens
99 – Other Heritage Assets
201
Account Title Depreciation-Service Concession Assets
for the wear and tear of service concession-road networks;
service concession-flood control systems; service concession-
sewer systems; service concession-water supply systems; service
concession-power supply systems; service concession-
communication networks; service concession-seaport systems;
service concession-airport systems; service concession-parks,
plazas and monuments; service concession-railway systems;
service concession-building and other structures; service
concession-machinery and equipment; service concession-
transportation equipment; service concession-furniture, fixtures
and books and other service concession assets in accordance with
the prescribed policy on depreciation. This account shall be
Subsidiary Ledgers:
09 – Parks, Plaza and Monuments
14 – Furniture, Fixtures and Books
99 – Other Service Concession Assets
Account Title Depreciation-Exploration and Evaluation Assets

for the wear and tear of exploration and evaluation assets;
underground tunnel; mining equipment and other exploration and
evaluation assets in accordance with the prescribed policy on
Subsidiary Ledgers:
01 – Underground Tunnel
02 – Mining Equipment
99 – Other Exploration and Evaluation Assets
202
Account Title Depreciation-Biological Assets
for the wear and tear of biological assets in accordance with the
prescribed policy on depreciation. This account shall be closed to
Account Title Depreciation-Other Property, Plant and Equipment

for the wear and tear of other property, plant and equipment not
falling under any of the specific Property, Plant and Equipment
account in accordance with the prescribed policy on depreciation.
Summary account.
Subsidiary Ledgers:
01 – Work/Zoo Animals
99 – Other Property, Plant and Equipment
02 Amortization
Account Title Amortization-Intangible Assets

of intangible assets. This account shall be closed to the
Subsidiary Ledgers:
01 – Patents/Copyrights
02 – Computer Software
03 – Websites
04 – Goodwill
99 – Other Intangible Assets
Account Title Amortization-Service Concession-Intangible Assets

of service concession-intangible assets. This account shall be
203
03 Impairment Loss
Account Title Impairment Loss-Financial Assets Held to Maturity

Description This account is used to recognize the loss incurred due to
impairment of financial assets held to maturity. This account
account.
Account Title Impairment Loss-Loans and Receivables

impairment of loans and receivables and other financial assets
where amortized cost is greater than the value of estimated future
cash flows discounted at original effective interest rate. This
includes loans, advances and other accounts which management
has finally determined to be worthless/uncollectible and written-
off from the books in accordance with generally accepted
procedures and existing rules and regulations. This account shall
Account Title Impairment Loss-Lease Receivables

impairment of lease receivables. This account shall be closed to
Account Title Impairment Loss-Investments in Government Corporations

Description This account is used to recognize the loss incurred in writing
down investments in government corporations below cost to fair
value less costs to sell. This account shall be closed to the
Account Title Impairment Loss-Investments in Joint Venture

down investments in joint venture below cost to fair value less
costs to sell. This account shall be closed to the
204
Account Title Impairment Loss-Other Receivables
impairment of other receivables. This account shall be closed to
Account Title Impairment Loss-Inventories

down inventory value below cost to its net realizable value. This
Summary account.
Account Title Impairment Loss-Investment Property

impairment of property held for rental/lease or for capital
appreciation where carrying amount is greater than depreciated
replacement cost. This account shall be closed to the
Subsidiary Ledgers:
01 – Land
02 – Buildings
Account Title Impairment Loss-Property, Plant and Equipment

impairment of property, plant and equipment where carrying
amount is greater than depreciated replacement cost. This
Summary account.
Account Title Impairment Loss-Biological Assets

impairment of biological assets where carrying amount is greater
than depreciated replacement cost. This account shall be closed
Account Title Impairment Loss-Intangible Assets

impairment of intangible asset where carrying amount is greater
205
than recoverable amount/recoverable service amount. This
Summary account.
Subsidiary Ledgers:
03 – Websites
04 – Goodwill
Account Title Impairment Loss-Investments in Associates/Affiliates

down investments in associates/affiliates below cost to fair value
less costs to sell. This account shall be closed to the
Account Title Impairment Loss-Domestic Investments

down domestic investments below cost to fair value less costs to
sell. This account shall be closed to the Revenue/Income and
Account Title Impairment Loss-Investments in Stocks

down investments in stocks below cost to fair value less costs to
Account Title Impairment Loss-Investments in Subsidiaries

down investments in subsidiaries below cost to fair value less
costs to sell. This account shall be closed to the Revenue/Income
Account Title Impairment Loss-Non-Current Assets Held for Sale

down non-current assets held for sale below cost to fair value less
costs to sell. This account shall be closed to the Revenue/Income
206
Account Title Impairment Loss-Service Concession-Intangible Assets
down service concession-intangible assets below cost to fair
value less costs to sell. This account shall be closed to the
Subsidiary Ledgers:
03 – Websites
04 – Goodwill
Account Title Impairment Loss-Other Investments

down other investments below cost to fair value less costs to sell.
Summary account.
Account Title Impairment Loss-Other Assets

down assets not falling under any of the specific asset accounts
below cost to fair value less costs to sell. This account shall be
04 Losses
Account Title Loss on Foreign Exchange (FOREX)

Description This account is used to recognize the losses arising from
revaluation of assets and liabilities denominated in foreign
currencies. This account shall be closed to the Revenue/Income
Account Title Loss on Sale/Redemption/Transfer of Investments

Description This account is used to recognize realized loss on
sale/redemption/transfer of investments such as financial assets
held for trading, financial assets designated at fair value through
surplus/profit or deficit/loss and non-trading financial assets.
207
Summary account.
Account Title Loss on Sale of Investment Property

Description This account is used to recognize the amount of loss on sale of
investment property. This account shall be closed to the
Account Title Loss on Sale of Property, Plant and Equipment

property, plant and equipment. This account shall be closed to
Account Title Loss on Sale of Biological Assets

biological assets. This account shall be closed to the
Account Title Loss on Sale of Agricultural Produce

agricultural produce. This account shall be closed to the
Account Title Loss on Sale of Intangible Assets

intangible assets. This account shall be closed to the
Account Title Loss on Sale of Assets

Account Title Loss of Assets

Description This account is used to recognize amount of loss suffered by
government due to theft/fortuitous events/calamities/civil unrest
and events of same nature for which relief has been granted. This
208
Summary account.
Account Title Loss on Initial Recognition of Biological Assets

Description This account is used to recognize amount of loss incurred upon
initial recognition of biological assets representing the cost to
Account Title Loss from Changes in Fair Value of Financial Instruments

Description This account is used to recognize the loss from changes in fair
value of financial instruments such as financial assets and
liabilities held for trading, financial assets and liabilities
designated at fair value through surplus/profit or deficit/loss and
non-trading financial assets and liabilities. This account shall be
Account Title Loss from Changes in Fair Value Less Cost to Sell of Biological
Assets Due to Physical Change
Description This account is used to recognize loss from changes in fair value
less cost to sell of biological assets due to physical change. This
Summary account.
Account Title Loss from Changes in Fair Value Less Cost to Sell of Biological
Assets Due to Price Change
Description This account is used to recognize loss from changes in fair value
less cost to sell of biological assets due to price change. This
Summary account.
Account Title Loss on Sale/Redemption/Transfer of Financial Liabilities

Description This account is used to recognize loss from
sale/redemption/transfer of financial liabilities designated at fair
value through surplus/profit or deficit/loss, non-trading financial
liabilities and held for trading securities. This account shall be
209
Account Title Loss on Securitization
Description This account is used to recognize the loss recognized after full
redemption of certificates or at the end of term of mortgage-
backed securities. This account shall be closed to the
Account Title Loss from Fair Value Adjustment in Hedge Accounting

Description This account is used to recognize loss from remeasuring the
derivative hedging instruments at fair value or the foreign
currency component of the carrying amount of a non-derivative
hedging instrument. This also refers to loss arising from the
change in fair value of the hedged items in a fair value hedge.
Summary account.
Account Title Loss from Changes in Fair Value of Investment Property

Description This account is used to recognize the loss from changes in fair
value of investment property. This account shall be closed to the
Account Title Loss on Guaranty

Description This refers to losses incurred for guaranteed loans of government
corporations as authorized by law or corporate body. This
Summary account.
Account Title Share in the Loss of Joint Venture

Description This account is used to recognize the share of government entities
from the loss of joint venture operations under the equity method
of accounting. This account shall be closed to the
Account Title Share in the Loss of Associates/Affiliates

Description This account is used to recognize the share in the loss of
associates/affiliates under the equity method of accounting. This
Summary account.
210
Account Title Other Losses
Description This account is used to recognize the amount of losses not falling
under any of the specific loss accounts. This account shall be
05 Discounts and Rebates
Account Title Other Discounts

Description This account is used to recognize amount of discounts not
falling under any of the specific discount accounts. This
includes discounts given from disposal of acquired assets. This
Summary account.
Account Title Rebates

Description This account is used to recognize reduction on the amount of
amortization due to receipt of payment on or before due date.
Summary account.
211

The Revised Chart of Accounts For Government Corporations

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

The Revised Chart of Accounts For Government Corporations

Uploaded by

Copyright:

Available Formats

Annex A

THE REVISED CHART OF ACCOUNTS

1. Codes are assigned to account groups to facilitate location of accounts in

Code Account Groups

Major Account Group

Sub-Major Account Group

General Ledger Account

2.1 Account Group represents the accounts classification as to assets,

2.4 General ledger (GL) account represents the account to be presented in

Asset without Contra Account

Cash Collecting Officer 1 01 01 01 0

Cash and Cash Equivalents

Asset with contra account

Loans and Receivable

Allowance for Impairment –

Loans and Receivable

PAS 1, 32, 39, PPSAS 1, 28, 1 02 09 Financial Assets-Domestic Investments

PPSAS 1 1 03 03 Inter-Agency Receivables

1 04 04 061 Allowance for Impairment-Drugs and Medicines Inventory

PAS 1, 16, 36 PPSAS 1, 17, 1 06 02 Land Improvements

1 06 04 072 Accumulated Impairment Losses-Water Plant Structure and Improvements

1 06 06 991 Accumulated Depreciation-Other Transportation Equipment

1 06 11 071 Accumulated Depreciation-Service Concession-Seaport Systems

1 07 01 041 Accumulated Impairment Losses-Aquaculture

1 07 02 030 Agricultural Produce Held for Consumption/Sale/Distribution

1 07 02 040 Aquaculture Held for Consumption/Sale/Distribution

PAS 1 PPSAS 1 1 99 Other Assets

2 01 02 070 Redeemable Preferred Shares

2 05 01 020 Deferred Service Concession Revenue

REVENUES AND EXPENSES

4 02 02 050 Rent/Lease Income

4 05 01 110 Gain from Changes in Fair Value of Financial Instruments

5 02 03 110 Textbooks and Instructional Materials Expenses

5 02 14 110 Contribution to AFP Modernization

01 Cash and Cash Equivalents

Account Title Cash-Collecting Officers

Account Title Petty Cash

Account Title Local Currency on Hand

Account Title Foreign Currency on Hand

Account Title Treasury Fund Capital

02 Cash in Bank-Local Currency

Account Title Cash in Bank-Local Currency, Bangko Sentral ng Pilipinas

Account Title Cash in Bank-Local Currency, Current Account

Account Title Cash in Bank-Local Currency, Savings Account

Account Title Due from Other Banks-Local Currency

03 Cash in Bank-Foreign Currency

Account Title Cash in Bank-Foreign Currency, Bangko Sentral ng Pilipinas

Account Title Cash in Bank-Foreign Currency, Current Account

Account Title Cash in Bank-Foreign Currency, Savings Account

Account Title Due from Bangko Sentral ng Pilipinas-Foreign Currency

04 Treasury/Agency Cash Accounts

Account Title Cash-Modified Disbursement System

Account Title Treasury Bills

Account Title Time Deposits-Local Currency

Account Title Time Deposits-Foreign Currency

Account Title Cash in Transit

Account Title Financial Assets Held for Trading

Account Title Financial Assets Designated at Fair Value Through Surplus/Profit

Account Title Derivative Financial Assets Held for Trading

02 Financial Assets-Held to Maturity

Account Title Investments in Treasury Bills-Local

Account Title Allowance for Impairment-Investments in Treasury Bills-Local

Account Title Investments in Treasury Bills-Foreign