MANUAL ON THE

NEW GOVERNMENT ACCOUNTING SYSTEM

for National Government Agencies

THE CHART OF ACCOUNTS

VOLUME III

TABLE OF CONTENTS

Page No.

 Chapter 1. INTRODUCTION

  Sec. 1. Definition 1
  Sec. 2. Rationale 1
  Sec. 3. Elements of Financial Statements 1
Sec. 4. Balance Sheet Accounts 2
Sec. 5. Revenues/Income and Expense Accounts 3
Sec. 6. Classification of Revenues/Income 3
Sec. 7. Classification of Expenses 4
Sec. 8. Intermediate Accounts 4
  Sec. 9. Account Codes 5

Chapter 2. THE CHART OF ACCOUNTS

Sec. 10. The Chart of Accounts 6

Chapter 3. DESCRIPTION OF ACCOUNTS

Sec. 11. Description of Accounts 22

Cash -
  Sec. 12.   Cash in Treasury 22
Sec. 13.   Cash – National Treasury – Modified 22
Disbursement System (MDS)

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Sec. 14.   Cash – Bangko Sentral ng Pilipinas   23
Sec. 15.   Petty Cash Fund 23
Sec. 16.   Cash – Collecting Officers 24
Sec. 17.   Cash – Disbursing Officers 24
Sec. 18.   Cash in Bank – Local Currency, Current 25
Account
Sec. 19.   Cash in Bank – Local Currency, Savings 25
Account
Sec. 20.   Cash in Bank – Local Currency, Time 25
Deposits
Sec. 21.   Cash in Bank – Foreign Currency, Current 26
Account
Sec. 22.   Cash in Bank – Foreign Currency, Savings 26
Account
Sec. 23.   Cash in Bank – Foreign Currency, Time 27
Deposits

Receivables -
Sec. 24.   Accounts Receivable 27
Sec. 25.   Notes Receivable 27
Sec. 26.   Loans Receivable – Current 28
Sec. 27.   Interests Receivable 28
Sec. 28.   Due from Officers and Employees 29
Sec. 29.   Due from NGAs 29
Sec. 30.   Due from LGUs 30
Sec. 31.   Due from GOCCs 30
Sec. 32.   Due from NGOs/POs 30
Sec. 33.   Due from National Treasury 31
Sec. 34.   Due from Central Office 31
Sec. 35.   Due from Regional Offices/Staff Bureaus 31
Sec. 36.   Due from Operating Units 32
Sec. 37.   Receivables – Disallowances/Charges 32
Sec. 38.   Other Receivables 33
Sec. 39.   Allowance for Doubtful Accounts 33

Marketable Securities -
Sec. 40.   Treasury Bills 34
Sec. 41.   Other Marketable Securities 34

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 Inventories -
Sec. 42.   Raw Materials Inventory 34
Sec. 43.   Work-In-Process Inventory 34
Sec. 44.   Finished Goods Inventory 35
Sec. 45.   Merchandise Inventory 35
Sec. 46.   Accountable Forms Inventory 36
Sec. 47.   Office Supplies Inventory 36
Sec. 48.   Medical, Dental and Laboratory Supplies 36
Inventory
Sec. 49. Food and Non-food Supplies Inventory 37
Sec. 50.   Gasoline, Oil and Lubricants Inventory 37
Sec. 51.   Agricultural Supplies Inventory 38
Sec. 52.   Livestock and Crops Inventory 38
Sec. 53. Spare Parts Inventory 39
Sec. 54.   Construction Materials Inventory 39
Sec. 55.   Other Agricultural Products Inventory 39
Sec. 56.   Confiscated Goods Inventory 40
Sec. 57.   Other Inventory Items 40

Prepaid Expenses -
Sec. 58.   Prepaid Rent 41
Sec. 59.   Prepaid Insurance 41
Sec. 60.   Prepaid Interest 41
Sec. 61.   Other Prepaid Expenses 42

Other Current Assets -

Sec. 62. Guaranty Deposits 42
Sec. 63.   Deposits on Letters of Credit 42
Sec. 64.   Advances to Contractors 43
Sec. 65.   Other Current Assets 43

Long -Term Investments -

Sec. 66. Loans Receivable – Long-Term, LGUs 43
Sec. 67. Loans Receivable – Long-Term, GOCCs 44
Sec. 68. Loans Receivable – Long-Term, Others 44
Sec. 69.   Investments in Stocks 44
Sec. 70.   Investments in Bonds 45
Sec. 71.   Investments in GOCCs 45
Sec. 72. Sinking Fund – Cash 45

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Sec. 73. Sinking Fund – Securities 46
Sec. 74.   Other Long-Term Investments 46

Property, Plant and Equipment -

Sec. 75.   Land 46
Sec. 76.   Land Improvements 47
Sec. 77.   Accumulated Depreciation – Land 47
Improvements 
Sec. 78.   Leasehold Improvements 48
Sec. 79.   Accumulated Depreciation – Leasehold 48
Improvements
Sec. 80.   Buildings 49
Sec. 81.   Accumulated Depreciation – Buildings 49
Sec. 82.   School Buildings 50
Sec. 83.   Accumulated Depreciation – School 50
Buildings 
Sec. 84.   Markets and Slaughterhouses 51
Sec. 85.   Accumulated Depreciation – Markets and 51
Slaughterhouses
Sec. 86.   Hospitals and Health Centers 52
Sec. 87.   Accumulated Depreciation – Hospitals and 53
Health Centers
Sec. 88.   Other Structures 53
Sec. 89.   Accumulated Depreciation – Other 54
Structures 
Sec. 90.   Industrial Machineries 54
Sec. 91.   Accumulated Depreciation – Industrial 55
Machineries
Sec. 92.   Other Machineries 55
Sec. 93.   Accumulated Depreciation – Other 56
Machineries
Sec. 94.   Firefighting Equipment and Accessories 56
Sec. 95.   Accumulated Depreciation – Firefighting 57
Equipment and Accessories
Sec. 96.   Construction and Heavy Equipment 57
Sec. 97.   Accumulated Depreciation – Construction 58
and Heavy Equipment
Sec. 98.   Technical and Scientific Equipment 58
Sec. 99.   Accumulated Depreciation – Technical and 59

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 Scientific Equipment
Sec. 100.   IT Equipment and Software 59
Sec. 101.   Accumulated Depreciation – IT Equipment 60
Sec. 102.   Telegraph, Telephone, Cable, TV and Radio 60
Equipment
Sec. 103.   Accumulated Depreciation – Telegraph, 61
Telephone, Cable, TV and Radio
Equipment 
Sec. 104.   Artesian Wells, Reservoirs, Pumping 62
Stations and Conduits
Sec. 105.   Accumulated Depreciation – Artesian 63
Wells, Reservoirs, Pumping Stations and
Conduits
Sec. 106.   Motor Vehicles 63
Sec. 107.   Accumulated Depreciation – Motor 64
Vehicles 
Sec. 108.   Watercrafts 64
Sec. 109.   Accumulated Depreciation – Watercrafts  65
Sec. 110.   Trains 65
Sec. 111.   Accumulated Depreciation – Trains 65
Sec. 112.   Aircrafts/Aircraft Ground Equipment 66
Sec. 113.   Accumulated Depreciation – Aircrafts/ 66
Aircraft Ground Equipment
Sec. 114.   Office Equipment 67
Sec. 115.   Accumulated Depreciation – Office 68
Equipment 
Sec. 116.   Other Equipment 68
Sec. 117.   Accumulated Depreciation – Other 68
Equipment 
Sec. 118.   Furniture and Fixtures 69
Sec. 119.   Accumulated Depreciation – Furniture and 70
Fixtures
Sec. 120.   Ordnance 70
Sec. 121.   Accumulated Depreciation – Ordnance 71
Sec. 122.   Books 71
Sec. 123.   Accumulated Depreciation – Books 71
Sec. 124.   Other Property, Plant and Equipment 72
Sec. 125.   Accumulated Depreciation – Other Property, 72
Plant and Equipment 

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Sec. 126.   Work/Other Animals 73
Sec. 127.   Breeding Stocks 73
Sec. 128.   Construction in Progress – Agency Assets 74
Sec. 129.   Construction in Progress – Plaza, Parks and 74
Monuments
Sec. 130.   Construction in Progress – Roads, Highways 75
and Bridges
Sec. 131.   Construction in Progress – Ports, 75
Lighthouses, Harbors, Seawalls, River
Walls and Others
Sec. 132.   Construction in Progress – Airports and 76
Runways
Sec. 133.   Construction in Progress – Railways 77
Sec. 134.   Construction in Progress – Waterways, 77
Aqueducts, etc.
Sec. 135.   Construction in Progress – Irrigation, Canals 77
and Laterals
Sec. 136. Construction in Progress – Electrification, 78
Power and Energy Structures
Sec. 137.   Construction in Progress – Other Public 79
Infrastructures
Sec. 138.   Construction in Progress – Reforestation 79
Projects
Sec. 139.   Public Infrastructures 79
Sec. 140. Reforestation Projects 80
Sec. 141.   Arts, Archeological Specimen and Other 80
Exhibits
Sec. 142.   Items in Transit 81

Other Assets -
Sec. 143. Other Assets 81

Current Liabilities -
Sec. 144.   Accounts Payable 82
Sec. 145.   Notes Payable 82
Sec. 146.   Loans Payable – Current, Domestic 83
Sec. 147.   Loans Payable – Current, Foreign 83
Sec. 148.   Interests Payable 83
Sec. 149. Tax Refunds Payable 84

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Sec. 150.   Guaranty Deposits Payable 84
Sec. 151.   Tax Credit Certificates Payable 84
Sec. 152.   Withholding Taxes Payable 85
Sec. 153.   GSIS Payable 86
Sec. 154.   PAG-IBIG Payable 87
Sec. 155.   PHILHEALTH Payable 87
Sec. 156.   Performance/Bidders/Bail Bonds Payable 88
Sec. 157.   Due to Officers and Employees 88
Sec. 158.   Due to NGAs 89
Sec. 159.   Due to LGUs 89
Sec. 160.   Due to GOCCs 90
Sec. 161. Due to National Treasury 91
Sec. 162.   Due to Central Office 91
Sec. 163.   Due to Regional Offices/Staff Bureaus 91
Sec. 164.   Due to Operating Units 92
Sec. 165. Retirement Gratuity Benefits Payable 92
Sec. 166. Deferred Credits to Income 93
Sec. 167. Other Deferred Credits 93
Sec. 168.   Other Payables 93

Long - Term Liabilities -

Sec. 169.   Loans Payable – Long-Term, Domestic 94
Sec. 170.   Loans Payable – Long-Term, Foreign 94
Sec. 171.   Mortgage Payable 94
Sec. 172.   Bonds Payable – Long-Term, Domestic 95
Sec. 173.   Bonds Payable – Long-Term, Foreign 95
Sec. 174.   Other Long-Term Liabilities 95

Other Liabilities -
Sec. 175. Other Liabilities 96

Equity -
Sec. 176.   Government Equity 96

Intermediate Accounts -
Sec. 177.   Cost of Goods Sold 97
Sec. 178.   Income and Expense Summary 97
Sec. 179.   Prior Years’ Adjustments 98
Sec. 180. Retained Operating Surplus 98

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Sec. 181.   Subsidy to Regional Offices/Staff Bureaus 99
Sec. 182.   Subsidy to Operating Units 99
Sec. 183. Gain or Loss Due to Dormant Accounts 100

Revenue/Income -

General Income
Sec. 184.   Subsidy Income from National Government 100
Sec. 185.   Subsidy from Central Office 101
Sec. 186.   Subsidy from Regional Office/Staff Bureau 102
Sec. 187.   Income from Government Services 102
Sec. 188.   Income from Government Business 102
Operations
Sec. 189.   Sales Revenue 103
Sec. 190.   Rent Income 103
Sec. 191.   Insurance Income 102
Sec. 192.   Dividend Income 103
Sec. 193.   Interest Income 103
Sec. 194.   Gain on Sale of Securities 103
Sec. 195.   Gain on Sale of Assets 103
Sec. 196.   Sale of Confiscated Goods and Properties 103
Sec. 197.   Foreign Exchange (FOREX) Gain 103
Sec. 198.   Miscellaneous Operating and Service 104
Income
Sec. 199.   Fines and Penalties – Government Services 104
and Business Operations
Sec. 200.   Income from Grants and Donations 104

Specific Income

Tax Revenue

Income Taxes
Sec. 201.   Income Tax – Individuals 104
Sec. 202.   Income Tax – Partnerships 104
Sec. 203.   Income Tax – Corporations 104

Property Tax
Sec. 204.   Stock Transfers Tax 105

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Sec. 205.   Capital Gains Tax 105
Sec. 206. Donors Tax 105
Sec. 207. Estate Tax 105

Taxes on Goods and Services

Sec. 208.   Excise Taxes on Articles 105
Sec. 209.   Value Added Tax 105
Sec. 210.   Business Taxes and Licenses 106
Sec. 211.   Franchise Tax 106
Sec. 212.   Miscellaneous Taxes on Goods and Services 106

Taxes on International Trade and

Transactions
Sec. 213.   Import Duties 106

Other Taxes
Sec. 214.   Documentary Stamp Tax 107
Sec. 215. Taxes on Forest Products 107
Sec. 216. Immigration Taxes 107
Sec. 217.   Miscellaneous – Other Taxes 107
Sec. 218.   Fines and Penalties – Tax Revenue 107

Other Specific Income

Sec. 219.   Registration Fees 107
Sec. 220.   Tuition/Affiliation Fees 107
Sec. 221.   Hospital Fees 108
Sec. 222.   Medical, Dental and Laboratory Fees 108
Sec. 223.   Library Fees 108
Sec. 224.   Athletic and Cultural Fees 108
Sec. 225.   Comprehensive Examination Fees 108
Sec. 226.   Transcript of Records Fees 108
Sec. 227.   Diploma and Graduation Fees 108
Sec. 228.   Inspection Fees 108
Sec. 229.   Permit Fees 108
Sec. 230.   Clearance/Certification Fees 108
Sec. 231.   Franchising/Licensing Fees 108
Sec. 232.   Printing and Publication Income 109
Sec. 233.   Income from Canteen Operations 109
Sec. 234.   Income from Dormitory Operations 109

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Sec. 235. Receipts from Communication Facilities 109
Sec. 236.   Toll Fees 109
Sec. 237.   Landing and Parking Fees 109
Sec. 238.   Other Income from School Services 109
Sec. 239.   Other Income from School Business 109
Operations
Sec. 240.   Other Income from Hospital Services 109
Sec. 241.   Other Income from Hospital Business 109
Operations
Sec. 242.   Fines and Penalties – Other Specific Income 110

Expenses - 110
Personal Services 110
Sec. 243.   Salaries and Wages – Regular Pay 110
Sec. 244.   Salaries and Wages – Part Time Pay 110
Sec. 245.   Salaries and Wages – Casual/Contractual 110
Sec. 246.   Personnel Economic Relief Allowance 110
(PERA)
Sec. 247.   Additional Compensation (ADCOM) 110
Sec. 248.   Representation Allowance (RA) 110
Sec. 249.   Transportation Allowance (TA) 110
Sec. 250.   Clothing Allowance 111
Sec. 251.   Honoraria 111
Sec. 252.   Hazard Pay 111
Sec. 253.   Overtime and Night Pay 111
Sec. 254.   Holiday Pay 111
Sec. 255.   Christmas Bonus 111
Sec. 256.   Cash Gift 111
Sec. 257.   Productivity Incentive Benefits 111
Sec. 258.   Other Bonuses and Allowances 112
Sec. 259.   Life and Retirement Insurance Contributions 112
Sec. 260.   PAG-IBIG Contributions 112
Sec. 261.   PHILHEALTH Contributions 112
Sec. 262.   ECC Contributions 112
Sec. 263.   Pensions and Retirement Benefits 112
Sec. 264.   Terminal Leave Benefits 112
Sec. 265.   Health Workers' Benefits 112
Sec. 266.   Subsistence and Quarters' Allowances 112
Sec. 267. Longevity Pay 112

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Sec. 268.   Other Personnel Benefits 113
Maintenance and Other Operating 113
Expenses
Sec. 269.   Traveling Expenses – Local 113
Sec. 270.   Traveling Expenses – Foreign 113
Sec. 271.   Training and Seminar Expenses 113
Sec. 272.  Water 113
Sec. 273.   Electricity 113
Sec. 274.   Cooking Gas 114
Sec. 275.   Telephone/Telegraph and Internet 114
Sec. 276.   Postage and Deliveries 114
Sec. 277.   Subscription Expenses 114
Sec. 278.   Advertising Expenses 114
Sec. 279.   Rent Expenses 114
Sec. 280.   Insurance Expenses 114
Sec. 281.   Fidelity Bond Premiums 114
Sec. 282.   Survey Expenses 114
Sec. 283.   Storage Expenses 114
Sec. 284.   Zoological/Animal Maintenance Expenses 115
Sec. 285.   Printing and Binding Expenses 115
Sec. 286.   Accountable Forms Expenses 115
Sec. 287.   Office Supplies Expenses 115
Sec. 288.   Medical, Dental and Laboratory Supplies 115
Expenses
Sec. 289. Food/Non-food Expenses 115
Sec. 290.   Gasoline, Oil and Lubricants Expenses 115
Sec. 291.   Agricultural Supplies Expenses 115
Sec. 292. Legal Services 116
Sec. 293.   Auditing Services 116
Sec. 294.   Consultancy Services 116
Sec. 295.   General Services 116
Sec. 296.   Security and Janitorial Services 116
Sec. 297.   Taxes, Duties and Licenses 116
Sec. 298.   Tax Credit Subsidy 116
Sec. 299. Tax Exemption Expenses 116
Sec. 300. Public Infrastructure Repairs and 116
Maintenance
Sec. 301. Reforestation Project Maintenance 117
Sec. 302.   Buildings Maintenance 117

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Sec. 303.   School Buildings Maintenance 117
Sec. 304.   Markets and Slaughterhouses Maintenance 117
Sec. 305.   Hospitals and Health Centers Maintenance 117
Sec. 306.   Other Structures Maintenance 117
Sec. 307.   Industrial Machineries Maintenance 117
Sec. 308.   Other Machineries Maintenance 117
Sec. 309.   Firefighting Equipment and Accessories 118
Maintenance
Sec. 310.   Construction and Heavy Equipment 118
Maintenance
Sec. 311.   Technical and Scientific Equipment 118
Maintenance
Sec. 312.   IT Equipment Maintenance 118
Sec. 313.   Telegraph, Telephone, Cable, TV and Radio 118
Equipment Maintenance
Sec. 314.   Artesian Wells, Reservoir, Pumping Stations 118
and Conduits Maintenance
Sec. 315.   Motor Vehicles Maintenance 118
Sec. 316.   Watercrafts Maintenance 119
Sec. 317.   Trains Maintenance 119
Sec. 318.   Aircrafts/Aircraft Ground Equipment 119
Maintenance
Sec. 319.   Office Equipment Maintenance 119
Sec. 320.   Other Equipment Maintenance 119
Sec. 321.   Furniture and Fixtures Maintenance 119
Sec. 322.   Ordnance Maintenance 119
Sec. 323.   Other Repairs and Maintenance 119
Sec. 324.   Awards and Indemnities 120
Sec. 325.   Rewards and Other Claims 120
Sec. 326.   Grants and Donations 120
Sec. 327.   Representation Expenses 120
Sec. 328.   Extraordinary and Miscellaneous Expenses 120
Sec. 329.   Confidential and Intelligence Expenses 120
Sec. 330.   Anti-Insurgency/Contingency Expenses 121
Sec. 331.   Subsidy to National Government Agencies 121
Sec. 332.   Subsidy to Local Government Units 121
Sec. 333.   Subsidy to Government Corporations 121
Sec. 334. Membership Dues to International 121
Institutions

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Sec. 335. Depreciation – Land Improvements 121
Sec. 336.   Depreciation – Leasehold Improvements 121
Sec. 337.   Depreciation – Buildings 121
Sec. 338.   Depreciation – School Buildings 122
Sec. 339.   Depreciation – Markets and Slaughterhouses 122
Sec. 340.   Depreciation – Hospitals and Health Centers 122
Sec. 341.   Depreciation – Other Structures 122
Sec. 342.   Depreciation – Industrial Machineries 122
Sec. 343.   Depreciation – Other Machineries 122
Sec. 344.   Depreciation – Firefighting Equipment and 122
Accessories
Sec. 345.   Depreciation – Construction and Heavy 122
Equipment
Sec. 346.   Depreciation – Technical and Scientific 122
Equipment
Sec. 347.   Depreciation – IT Equipment 123
Sec. 348.   Depreciation – Telegraph, Telephone, Cable, 123
TV and Radio Equipment
Sec. 349.   Depreciation – Artesian Wells, Reservoirs, 123
Pumping Stations and Conduits
Sec. 350.   Depreciation – Motor Vehicles 123
Sec. 351.   Depreciation – Watercrafts 123
Sec. 352.   Depreciation – Trains 123
Sec. 353.   Depreciation – Aircrafts/Aircraft Ground 123
Equipment
Sec. 354.   Depreciation – Office Equipment 123
Sec. 355.   Depreciation – Other Equipment 124
Sec. 356.   Depreciation – Furniture and Fixtures 124
Sec. 357.   Depreciation – Ordnance 124
Sec. 358.   Depreciation – Books 124
Sec. 359.   Depreciation – Other Property, Plant and 124
Equipment
Sec. 360.   Obsolescence – IT Software 124
Sec. 361.   Bad Debts Expense 124
Sec. 362.   Loss on Sale of Assets 124
Sec. 363. Loss of Assets 124
Sec. 364.   Other Expenses 125

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 Financial Expenses -
Sec. 365.   Bank Charges 125
Sec. 366.   Interest Expenses 125
Sec. 367.   Commitment Charges 125
Sec. 368. Documentary Stamps Expenses 125
Sec. 369.   Other Financial Charges 125
Sec. 370.   Foreign Exchange (FOREX) Loss 125
Sec. 371.   Debt Service Subsidy to GOCCs 126
Sec. 372. Loss on Guaranty 126

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