PROPERTY, PLANT AND EQUIPMENT LEDGER CARD

(PPELC)

INSTRUCTIONS
A. This ledger shall be accomplished as follows:

1. Agency – name of the agency

2. Property, Plant and Equipment – type of property, plant
and equipment (i.e. Xerox machine, filing cabinet, etc.)
3. Description – description of the assets (i.e. brand, size,
color, etc.)
4. Account Code – account code as provided in the Chart of
Accounts
5. Estimated Useful Life – estimated useful life of Property,
Plant and Equipment as determined by the Commission on
Audit
6. Rate of Depreciation – rate of depreciation per month to be
recorded in the books of accounts starting on the 2 nd month
following the date of acquisition/delivery. It shall be
computed using the straight-line method of depreciation
7. Date – date of the source document.
8. Reference – reference documents used as the bases in
recording the transactions such as JEV
9. Receipt-Qty/Unit Cost/Total Cost – the quantity received,
the unit cost and the total cost of the property, plant and
equipment
10. Accumulated Depreciation – the amount of depreciation
charged to the property, plant and equipment.
11. Transfer/Adjustment – the cost of the asset transferred to
other NGAs or disposed/adjusted
12. Balance – the difference between the total cost of the asset
less the accumulated depreciation and transfers, if any

B. The PPELC shall be kept by the Accounting Unit for each class of
asset to record promptly the acquisition, description, custody,
estimated life, depreciation, disposal and other information about the
asset.

C. The physical inventory of the asset shall be reconciled with the

property, plant and equipment ledger cards and the control accounts
and any discrepancies shall be immediately verified and adjusted.

AO 5-14-02 30