THE REVISED CHART OF ACCOUNTS For Government … · THE REVISED CHART OF ACCOUNTS For Government...

1

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:

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.

0 00 00 00 0

Account Group

Major Account Group

Sub-Major Account Group

General Ledger Account General Ledger Contra-Account

2

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 with contra account Accounts Receivable

1 03 01 01 0

Asset

Receivables

Loans and Receivable

Accounts

Accounts Receivable

General Ledger Contra-Accounts

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

3

1 03 01 01 1

Asset

Receivables

Loans and Receivable

Accounts

Accounts Receivable

Allowance for Impairment – Accounts Receivable

Contra-Account of Accounts Receivable Allowance for Impairment – Accounts Receivable

B. LIST OF THE REVISED CHART OF ACCOUNTS

For GOVERNMENT CORPORATIONS

1 Assets

1 01 Cash and Cash Equivalents

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

1 01 02 Cash in Bank-Local Currency

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

1 01 03 Cash in Bank-Foreign Currency

1 01 03 010 Cash in Bank-Foreign Currency, Bangko Sentral ng Pilipinas

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

1 01 05 Cash Equivalents

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

1 02 Investments

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

1 02 02 Financial Assets-Held to Maturity

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

1 02 05 Investments in Joint Venture

1 02 05 010 Investments in Joint Venture

1 02 05 011 Allowance for Impairment-Investments in Joint Venture

1 02 06 Investments in Associates/Affiliates

1 02 06 010 Investments in Associates/Affiliates

1 02 06 011 Allowance for Impairment-Investments in Associates/Affiliates

1 02 07 Sinking Fund

1 02 07 010 Sinking Fund

1 02 08 Financial Assets-Available For Sale Securities

1 02 08 010 Available For Sale Securities

1 02 08 011 Allowance for Impairment-Available for Sale Securities

ACCOUNT TITLES and CODES

ASSETS

PPSAS 8PAS 1, 27, 31,

36

PPSAS 28, 29

& 30

PAS 1, 32, 39,

PFRS 7, 9

PPSAS 1, 2,

28, 29 & 30

PAS 1, 27, 28,

31, 36

PPSAS 1, 28,

29 & 30

PAS 1, 32, 39,

PFRS 7, 9

PPSAS 1, 2, 4,

28, 29 & 30

PAS 1, 7, 21,

33, 39, PFRS 7,

9

PAS 1, 7, 21,

32, 39, PFRS 9

PAS 1, 27, 28,

31, 36

PAS 1, 32, 39,

IFRS 7, 9

PPSAS 1, 28,

29 & 30

Covering Standards

(PAS/PFRS/PPSAS)

PPSAS 1, 2,

28, 29 & 30

PAS 1, 7, 32,

39

PPSAS 1, 2,

28, 29 & 30

PAS 1, 7, 39,

PFRS 9

PPSAS 28, 29

& 30

4

ACCOUNT TITLES and CODESCovering Standards

(PAS/PFRS/PPSAS)

1 02 09 Financial Assets-Domestic Investments

1 02 09 010 Domestic Securities

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

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

1 02 99 Other Investments

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

1 03 Receivables

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

PPSAS 1, 28,

29 & 30

PAS 1, 32, 39,

PFRS 7, PFRS

9

PAS 1, 27

PPSAS 28, 29

& 30

PAS 1, 17, 23,

32, 39, PFRS 9

PPSAS 1, 28,

29 & 30

PAS 1, 27, 28,

31, 36

5


(PAS/PFRS/PPSAS)

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

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

PPSAS 1

PPSAS 1, 12PAS 1, 2, 23

6


(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

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

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

1 05 Investment Property

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

1 06 Property, Plant and Equipment

1 06 01 Land

1 06 01 010 Land

1 06 01 011 Accumulated Impairment Losses-Land

PPSAS 1, 17,

21

Semi-Expendable Machinery and Equipment

PAS 1, 16, 23,

36

Semi–Expendable Furniture, Fixtures and Books

PPSAS 1,16PAS 1, 17, 23,

36 & 40

7


(PAS/PFRS/PPSAS)

1 06 02 Land Improvements

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

1 06 03 Infrastructure Assets

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

1 06 04 Buildings and Other Structures

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

PPSAS 1, 17,

21

PAS 1, 16, 36

PPSAS 1, 17,

21

PAS 1, 16, 36

PPSAS 1, 17,

21

PAS 1, 16, 36

8


(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

1 06 05 Machinery and Equipment

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

1 06 06 Transportation Equipment

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

PPSAS 1, 17,

21

PAS 1, 16, 36

PPSAS 1, 17,

21

PAS 1, 16, 36

9


(PAS/PFRS/PPSAS)

1 06 06 991 Accumulated Depreciation-Other Transportation Equipment

1 06 06 992 Accumulated Impairment Losses-Other Transportation Equipment

1 06 07 Furniture, Fixtures and Books

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

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

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

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

PAS 1, 16, 36 PPSAS 1, 17,

21

PAS 1, 17, 36

PPSAS 1, 13PAS 1, 17, 36

PPSAS 1, 13

PPSAS 17 PAS 16, 36, 17

10


(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

1 06 12 Exploration and Evaluation Assets

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

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

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

1 06 99 Construction in Progress

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

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

PAS 1,16, 36,

PFRS 6

PPSAS 1

PPSAS 1, 27PAS 1, 16, 36

PPSAS 1, 17

PPSAS 1, 13,

17

PAS 1, 16, 36,

17

PAS 1, 16, 36

PPSAS 1, 17PAS 1, 41

11


(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

1 08 Intangible Assets

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

PPSAS 1, 31PAS 1, 23, 36,

38

12


(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

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

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

2 Liabilities

2 01 Financial Liabilities

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

2 01 02 Bills/Bonds/Loans Payable

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

PAS 1, 32, 39,

PFRS 7, 9

PPSAS 1, 28,

29, 30

PAS 1

PPSAS 1PAS 1

LIABILITIES

PPSAS 1

PPSAS 1, 28,

29, 30

PAS 1, 32, 39,

PFRS 7, 9

13


(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

2 01 04 Financial Liabilities Designated at Fair Value through Surplus/Profit or Deficit/Loss

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

2 01 06 L b l 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

2 01 99 Other Financial Liabilities

2 01 99 990 Other Financial Liabilities

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

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

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

PAS 1, PAS 12 PPSAS 1, 23



PAS 1, 32, 39,

PFRS 7, 9

PPSAS 1, 28,

29, 30

PAS 1, 32, 39,

PFRS 7, 9

PPSAS 1, 28,

29, 30

14


(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

2 06 Provisions

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

3 Equity

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

EQUITY

PPSAS 1PAS 1, 8

PPSAS 1, 19PAS 1, 26, 19,

37

15


(PAS/PFRS/PPSAS)

3 03 Intermediate Accounts

3 03 01 Intermediate Accounts

3 03 01 020 Revenue/Income and Expense Summary

3 04 Equity in Joint Venture

3 04 01 Equity in Joint Venture

3 04 01 010 Equity in Joint Venture

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)

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

3 10 01 Cumulative Changes in Fair Value

3 10 01 010 Cumulative Changes in Fair Value of Investments

4 Revenue

4 01 Tax Revenue

4 01 01 Tax Revenue-Individual and Corporation

4 01 01 030 Travel Tax

4 02 Service and Business Income

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

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

PAS 1, 36, 32,

39, PFRS 7, 9

PPSAS 1, 28,

29, 30

PAS 1, 8, 33 PPSAS 1

PAS 1, 28, 31

PAS 1, 18

PPSAS 1, 23PAS 1,18

REVENUES AND EXPENSES

PPSAS 1, 9PAS 1, 18

PPSAS 1, 9

PAS 1, 31,

PFRS 11

PPSAS 1, 8

16


(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

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

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

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

PAS 1, 21 PPSAS 1, 9, 4

PAS 1,18

PPSAS 23

PPSAS 1, 23

17


(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

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

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

5 02 01 Traveling Expenses

5 02 01 010 Traveling Expenses-Local

5 02 01 020 Traveling Expenses-Foreign

5 02 02 Training and Scholarship Expenses

5 02 02 010 Training Expenses

5 02 02 020 Scholarship Grants/Expenses

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

PPSAS 1PAS 1

PPSAS 1PAS 1

PPSAS 1PAS 1

PPSAS 9

PPSAS 1PAS 1, 19

18


(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

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

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

5 02 07 Survey, Research, Exploration and Development Expenses

5 02 07 010 Survey Expenses

5 02 07 020 Research, Exploration and Development Expenses

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

5 02 09 Generation, Transmission and Distribution Expenses

5 02 09 010 Generation, Transmission and Distribution Expenses

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

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

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

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

PAS 1, 36, 40

PAS 1 PPSAS 1

PAS 1 PPSAS 1

PPSAS 16, 17

PPSAS 1PAS 1

PPSAS 1PAS 1

PPSAS 1PAS 1

PPSAS 1, 31PAS 1



19


(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

5 05 01 Depreciation

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

PPSAS 1, 17PAS 1, 16, 41,

PFRS 6

20


(PAS/PFRS/PPSAS)

5 05 02 Amortization

5 05 02 010 Amortization-Intangible Assets

5 05 02 020 Amortization-Service Concession-Intangible Assets

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

PAS 39, IFRS 9

PPSAS 28, 29,

30

5 05 04 120 Loss from Changes in Fair Value of Financial Instruments

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 PPSAS 27 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

PPSAS 28, ,

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

PAS 1, 38

PAS 36 PPSAS 16, 21

PPSAS 1, 31

21

22

C. DESCRIPTION OF ACCOUNTS

1 A S S E T S

1 Assets

01 Cash and Cash Equivalents

01 Cash on Hand

Account Title

Account Number

Normal Balance

Description

Cash-Collecting Officers

10101010

Debit

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

Account Number

Normal Balance

Description

Petty Cash

10101020

Debit

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

Account Number

Normal Balance

Description

Local Currency on Hand

10101030

Debit

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

Account Number

Normal Balance

Description

Foreign Currency on Hand

10101040

Debit

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.

23

Account Title

Account Number

Normal Balance

Description

Checks and Other Cash Items

10101050

Debit

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

Account Number

Normal Balance

Description

Treasury Fund Capital

10101060

Debit

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

Account Number

Normal Balance

Description

Cash in Bank-Local Currency, Bangko Sentral ng Pilipinas

10102010

Debit

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

Account Number

Normal Balance

Description

Cash in Bank-Local Currency, Current Account

10102020

Debit

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

Account Number

Normal Balance

Description

Cash in Bank-Local Currency, Savings Account

10102030

Debit

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).

24

Account Title

Account Number

Normal Balance

Description

Due from Bangko Sentral ng Pilipinas-Local Currency

10102050

Debit

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

Account Number

Normal Balance

Description

Due from Other Banks-Local Currency

10102060

Debit

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

Account Number

Normal Balance

Description

Cash in Bank-Foreign Currency, Bangko Sentral ng Pilipinas

10103010

Debit

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

Account Number

Normal Balance

Description

Cash in Bank-Foreign Currency, Current Account

10103020

Debit

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

Account Number

Normal Balance

Description

Cash in Bank-Foreign Currency, Savings Account

10103030

Debit

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

Account Number

Normal Balance

Description

Due from Bangko Sentral ng Pilipinas-Foreign Currency

10103050

Debit

This account is used to recognize the balance of the deposit

account maintained with the BSP which are denominated in

foreign currency.

25

Account Title

Account Number

Normal Balance

Description

Due from Other Banks-Foreign Currency

10103060

Debit

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

Account Number

Normal Balance

Description

Cash-Modified Disbursement System

10104040

Debit

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

Account Number

Normal Balance

Description

Treasury Bills

10105010

Debit

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

Account Number

Normal Balance

Description

Time Deposits-Local Currency

10105020

Debit

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

Account Number

Normal Balance

Description

Time Deposits-Foreign Currency

10105030

Debit

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.

26

Account Title

Account Number

Normal Balance

Description

Treasury Bonds

10105040

Debit

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

Account Number

Normal Balance

Description

Cash in Transit

10105050

Debit

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

Account Number

Normal Balance

Description

Financial Assets Held for Trading

10201010

Debit

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

Account Number

Normal Balance

Description

Financial Assets Designated at Fair Value Through Surplus/Profit

or Deficit/Loss

10201020

Debit

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

Account Number

Normal Balance

Description

Derivative Financial Assets Held for Trading

10201030

Debit

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.

27

Account Title

Account Number

Normal Balance

Description

Derivative Financial Assets Designated at Fair Value Through

Surplus/Profit or Deficit/Loss

10201040

Debit

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

Account Number

Normal Balance

Description

Investments in Treasury Bills-Local

10202010

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Investments in Treasury Bills-Local

10202011

Credit

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

Account Number

Normal Balance

Description

Investments in Treasury Bills-Foreign

10202020

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Investments in Treasury Bills-Foreign

10202021

Credit


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.

28

Account Title

Account Number

Normal Balance

Description

Investments in Bonds-Local

10202050

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Investments in Bonds-Local

10202051

Credit


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

Account Number

Normal Balance

Description

Premium on Investments in Bonds-Local

10202052

Debit

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

Account Number

Normal Balance

Description

Discount on Investments in Bonds-Local

10202053

Credit

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

Account Number

Normal Balance

Description

Investments in Bonds-Foreign

10202060

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Investments in Bonds-Foreign

10202061

Credit


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.

29

Account Title

Account Number

Normal Balance

Description

Premium on Investments in Bonds-Foreign

10202062

Debit

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

Account Number

Normal Balance

Description

Discount on Investments in Bonds-Foreign

10202063

Credit

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

Account Number

Normal Balance

Description

Investments in Joint Venture

10205010

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Investments in Joint Venture

10205011

Credit

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

Account Number

Normal Balance

Description

Investments in Associates/Affiliates

10206010

Debit

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.

30

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Investments in Associates/Affiliates

10206011

Credit


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

Account Number

Normal Balance

Description

Sinking Fund

10207010

Debit

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

Account Number

Normal Balance

Description

Available For Sale Securities

10208010

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Available For Sale Securities

10208011

Credit

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

Account Number

Normal Balance

Description

Domestic Securities

10209010

Debit

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

31

securities, transfers, and write-off or write-down.

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Domestic Securities

10209011

Credit


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

Account Number

Normal Balance

Description

Domestic Securities Purchased Under Repurchase Agreement

10209020

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Domestic Securities Purchased Under

Repurchase Agreement

10209021

Credit

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

Account Number

Normal Balance

Description

Due from Local Banks

10209030

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Due from Local Banks

10209031

Credit


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.

32

10 Investments in Subsidiaries

Account Title

Account Number

Normal Balance

Description

Investments in Subsidiaries

10210010

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Investments in Subsidiaries

10210011

Credit


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

Account Number

Normal Balance

Description

Investments in Time Deposits-Local Currency

10211010

Debit


local currency with AGDBs for a period of 91 days or more. Credit

this account for withdrawal of placements.

Account Title

Account Number

Normal Balance

Description

Investments in Time Deposits-Foreign Currency

10211020

Debit


foreign currency with AGDBs for a period of 91 days or more.

Credit this account for withdrawal of placements.

99 Other Investments

Account Title

Account Number

Normal Balance

Description

Investments in Stocks

10299010

Debit

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.

33

03 Receivables

01 Loans and Receivable Accounts

Account Title

Account Number

Normal Balance

Description

Accounts Receivable

10301010

Debit

This account is used to recognize the amount due from customers

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Investments in Stocks

10299011

Credit


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

Account Number

Normal Balance

Description

Investments in Non-Marketable Securities

10299020

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Investments in Non-Marketable

Securities

10299021

Credit


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

Account Number

Normal Balance

Description

Other Investments

10299990

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Other Investments

10299991

Credit


of other investments due to impairment. Debit this account upon

receipt of the return on the investment, sale, transfers, reversal of


34

arising from regular trade and business transactions. Credit this

account upon collection of receivables, transfers or write-off.

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Accounts Receivable

10301011

Credit

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

Account Number

Normal Balance

Description

Notes Receivable

10301020

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Notes Receivable

10301021

Credit

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

Account Number

Normal Balance

Description

Loans Receivable-Local Government Units

10301040

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Loans Receivable-Local Government

Units

10301041

Credit

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

Account Number

Normal Balance

Description

Interests Receivable

10301050

Debit

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.

35

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Interests Receivable

10301051

Credit


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

Account Number

Normal Balance

Description

Dividends Receivable

10301060

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Dividends Receivable

10301061

Credit

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

Account Number

Normal Balance

Description

Loans Receivable-Other Government Corporations

10301070

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Loans Receivable-Other Government

Corporations

10301071

Credit


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

Account Number

Normal Balance

Description

Subrogated Claims Receivable

10301080

Debit

This account is used to recognize the amounts of insured deposits

paid by a corporation to depositors of closed banks; advances made

36

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

Account Number

Normal Balance

Description

Allowance for Impairment-Subrogated Claims Receivable

10301081

Credit

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

Account Number

Normal Balance

Description

Contributions and Premiums Receivable

10301090

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Contributions and Premiums Receivable

10301091

Credit

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

Account Number

Normal Balance

Description

Mortgage Contracts Receivable

10301100

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Mortgage Contracts Receivable

10301101

Credit

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.

37

Account Title

Account Number

Normal Balance

Description

Loans to BSP

10301110

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Loans to BSP

10301111

Credit

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

Account Number

Normal Balance

Description

Inter-bank Loans Receivable

10301120

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Inter-bank Loans Receivable

10301121

Credit

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

Account Number

Normal Balance

Description

Deficiency Claims Receivable

10301130

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Deficiency Claims Receivable

10301131

Credit


may arise from non-collections of deficiency claims receivable.

Debit this account upon receipt of deficiency claims receivables,


38

Account Title

Account Number

Normal Balance

Description

Due from Reinsurer

10301140

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Due from Reinsurer

10301141

Credit

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

Account Number

Normal Balance

Description

Accrued Service Fee Receivable

10301150

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Accrued Service Fee Receivable

10301151

Credit

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

Account Number

Normal Balance

Description

Sales Contract Receivable

10301160

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Sales Contract Receivable

10301161

Credit


impairment loss that has been incurred on Sales Contract

39

Receivable. Debit this account upon receipt of sales contract

receivables, transfers, reversal of impairment, or write-off.

Account Title

Account Number

Normal Balance

Description

Sales Contract Receivable-Discount

10301162

Credit

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

Account Number

Normal Balance

Description

Reinsurance Receivable

10301170

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Reinsurance Receivable

10301171

Credit


impairment loss that has been incurred on Reinsurance Receivable.

Debit this account upon receipt of reinsurance receivables,


Account Title

Account Number

Normal Balance

Description

Due from Head Office/Branches/Agencies Abroad

10301180

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Due from Head

Office/Branches/Agencies Abroad

10301181

Credit


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.

40

Account Title

Account Number

Normal Balance

Description

Receivership and Liquidation Receivable

10301190

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Receivership and Liquidation

Receivable

10301191

Credit


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

Account Number

Normal Balance

Description

Loans Receivable-Others

10301990

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Loans Receivable-Others

10301991

Credit


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

Account Number

Normal Balance

Description

Operating Lease Receivable

10302010

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Operating Lease Receivable

10302011

Credit


may arise from the non-collection of the operating lease

receivables. Debit this account upon receipt of the receivables,


41

Account Title

Account Number

Normal Balance

Description

Finance Lease Receivable

10302020

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Finance Lease Receivable

10302021

Credit


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

Account Number

Normal Balance

Description

Due from National Government Agencies

10303010

Debit

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

Account Number

Normal Balance

Description

Due from Local Government Units

10303030

Debit

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

Account Number

Normal Balance

Description

Due from Government Corporations

10303050

Debit

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.

42

Account Title

Account Number

Normal Balance

Description

Due from Subsidiaries/Joint Ventures/Associates/Affiliates

10303060

Debit

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

Account Number

Normal Balance

Description

Due from Parent Corporations

10303070

Debit

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

Account Number

Normal Balance

Description

Due from Operating Units

10304040

Debit

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

Account Number

Normal Balance

Description

Due from Other Funds

10304050

Debit

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

Account Number

Normal Balance

Description

Due from Central Office/Home/Head Office

10304060

Debit

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.

43

Account Title

Account Number

Normal Balance

Description

Due from Regional/Branch Offices

10304070

Debit

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

Account Number

Normal Balance

Description

Receivables-Disallowances/Charges

10305010

Debit

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

Account Number

Normal Balance

Description

Due from Officers and Employees

10305020

Debit

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

Account Number

Normal Balance

Description

Due from Non-Government Organizations/People's Organizations

10305030

Debit

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

Account Number

Normal Balance

Description

Insurance Claims Receivable

10305040

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Insurance Claims Receivable

10305041

Credit

This account is credited to reduce insurance claims receivable to its

44

recoverable amount due to impairment. Debit this account upon

receipt of the receivables, transfers, reversal of impairment loss,

and write-off.

Account Title

Account Number

Normal Balance

Description

Deficiency Judgment Receivable

10305050

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Deficiency Judgment Receivable

10305051

Credit

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

Account Number

Normal Balance

Description

Subscriptions Receivable

10305060

Credit

This account is used to recognize the unpaid portion of the

subscribed stocks of the entity.

Account Title

Account Number

Normal Balance

Description

Other Receivables

10305990

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Other Receivables

10305991

Credit


of other receivables due to impairment. Debit this account upon

receipt of other receivables, transfers, reversal of impairment loss,

and write-off.

45

04 Inventories

01 Inventory Held for Sale

Account Title

Account Number

Normal Balance

Description

Merchandise Inventory

10401010

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Merchandise Inventory

10401011

Credit

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

Account Number

Normal Balance

Description

Food Supplies for Distribution

10402010

Debit

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.

46

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Food Supplies for Distribution

10402011

Credit


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

Account Number

Normal Balance

Description

Welfare Goods for Distribution

10402020

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Welfare Goods for Distribution

10402021

Credit


welfare goods for distribution due to fortuitous event. Debit this

account upon disposal, derecognition of the welfare goods for


Account Title

Account Number

Normal Balance

Description

Drugs and Medicines for Distribution

10402030

Debit

This account is used to recognize the cost of drugs and medicines

purchased/received for distribution. Credit this account for


Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Drugs and Medicines for Distribution

10402031

Credit


drugs and medicines due to fortuitous event. Debit this account

upon disposal, derecognition of the drugs and medicines for


Account Title

Account Number

Normal Balance

Description

Medical, Dental and Laboratory Supplies for Distribution

10402040

Debit

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.

47

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Medical, Dental and Laboratory

Supplies for Distribution

10402041

Credit


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

Account Number

Normal Balance

Description

Agricultural and Marine Supplies for Distribution

10402050

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Agricultural and Marine Supplies for

Distribution

10402051

Credit


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

Account Number

Normal Balance

Description

Agricultural Produce for Distribution

10402060

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Agricultural Produce for Distribution

10402061

Credit


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.

48

Account Title

Account Number

Normal Balance

Description

Textbooks and Instructional Materials for Distribution

10402070

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Textbooks and Instructional Materials

for Distribution

10402071

Credit


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

Account Number

Normal Balance

Description

Construction Materials for Distribution

10402080

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Construction Materials for Distribution

10402081

Credit


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

Account Number

Normal Balance

Description

Property and Equipment for Distribution

10402090

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Property and Equipment for

Distribution

10402091

Credit


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.

49

Account Title

Account Number

Normal Balance

Description

Other Supplies and Materials for Distribution

10402990

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Other Supplies and Materials for

Distribution

10402991

Credit


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

Account Number

Normal Balance

Description

Raw Materials Inventory

10403010

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Raw Materials Inventory

10403011

Credit


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

Account Number

Normal Balance

Description

Work-in-Process Inventory

10403020

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Work-in-Process Inventory

10403021

Credit


obsolete/outdated, spoiled, spilled, shrunk and/or evaporated work-

50

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

Account Number

Normal Balance

Description

Finished Goods Inventory

10403030

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Finished Goods Inventory

10403031

Credit


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

Account Number

Normal Balance

Description

Office Supplies Inventory

10404010

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Office Supplies Inventory

10404011

Credit

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

Account Number

Normal Balance

Description

Accountable Forms, Plates and Stickers Inventory

10404020

Debit

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.

51

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Accountable Forms, Plates and Stickers

Inventory

10404021

Credit

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

Account Number

Normal Balance

Description

Non-Accountable Forms Inventory

10404030

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Non-Accountable Forms Inventory

10404031

Credit

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

Account Number

Normal Balance

Description

Animal/Zoological Supplies Inventory

10404040

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Animal/Zoological Supplies Inventory

Credit

Debit


Animal/Zoological Supplies Inventory due to fortuitous event.

Debit this account upon disposal, derecognition of the inventory for


Account Title

Account Number

Normal Balance

Description

Food Supplies Inventory

10404050

Debit

This account is used to recognize cost of food for

hospital/rehabilitation patients and the like. Credit this account for


52

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Food Supplies Inventory

10404051

Credit

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

Account Number

Normal Balance

Description

Drugs and Medicines Inventory

10404060

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Drugs and Medicines Inventory

10404061

Credit

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

Account Number

Normal Balance

Description

Medical, Dental and Laboratory Supplies Inventory

10404070

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Medical, Dental and Laboratory Supplies

Inventory

10404071

Credit

This account is credited for any subsequent write-down of Medical,

Dental and Laboratory Supplies Inventory due to fortuitous event.



Account Title

Account Number

Normal Balance

Description

Fuel, Oil and Lubricants Inventory

10404080

Debit

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.

53

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Fuel, Oil and Lubricants Inventory

10404081

Credit

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

Account Number

Normal Balance

Description

Agricultural and Marine Supplies Inventory

10404090

Debit


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

Account Number

Normal Balance

Description

Allowance for Impairment-Agricultural and Marine Supplies

Inventory

10404091

Credit


Agricultural and Marine Supplies Inventory due to fortuitous event.



Account Title

Account Number

Normal Balance

Description

Textbooks and Instructional Materials Inventory

10404100

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Textbooks and Instructional Materials

Inventory

10404101

Credit


Textbooks and Instructional Materials Inventory due to fortuitous



Account Title

Account Number

Normal Balance

Description

Military, Police and Traffic Supplies Inventory

10404110

Debit

This account is used to recognize the cost of military, police and

traffic supplies acquired for government operations such as

54

truncheons, ammunitions, night sticks, clubs/cudgels, police/ traffic

gears, flashlights, helmets and the like. Credit this account for


Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Military, Police and Traffic Supplies

Inventory

10404111

Credit

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

Account Number

Normal Balance

Description

Chemical and Filtering Supplies Inventory

10404120

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Chemical and Filtering Supplies

Inventory

10404121

Credit

This account is credited for any subsequent write-down of Chemical

and Filtering Supplies Inventory due to fortuitous event. Debit this



Account Title

Account Number

Normal Balance

Description

Construction Materials Inventory

10404130

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Construction Materials Inventory

10404131

Credit


Construction Materials Inventory due to fortuitous event. Debit this



55

Account Title

Account Number

Normal Balance

Description

Currency Inventory

10404140

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Currency Inventory

10404141

Credit

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

Account Number

Normal Balance

Description

Demonetized Coins for Melting

10404150

Debit

This account is used to recognize the value of silver treasury coins

purchased by BSP from the public at a premium.

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Demonetized Coins for Melting

10404151

Credit


Demonetized Coins for Melting due to fortuitous event. Debit this



Account Title

Account Number

Normal Balance

Description

Information Materials Inventory

10404160

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Information Materials Inventory

10404161

Credit


Information Materials Inventory due to fortuitous event. Debit this



Account Title

Account Number

Normal Balance

Description

Linens and Beddings

10404170

Debit

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

56

account for issuance, transfers or other disposal.

Account Title

Account Number

Normal Balance

Description

Allowance for Impairment-Linens and Beddings

10404171

Credit

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

Account Number

Normal Balance

Description

Play/Bet Slips and Thermal Rolls Supplies Inventories

10404180

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Play/Bet Slips and Thermal Rolls

Supplies Inventories

10404181

Credit

This account is credited for any subsequent write-down of Play/Bet

Slips and Thermal Rolls Supplies Inventories due to fortuitous



Account Title

Account Number

Normal Balance

Description

Other Supplies and Materials Inventory

10404990

Debit

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

Account Number

Normal Balance

Description

Allowance for Impairment-Other Supplies and Materials Inventory

10404991

Credit

This account is credited for any subsequent write-down of Other

Supplies and Materials Inventory due to fortuitous event. Debit this



57

05 Semi-Expendable Machinery and Equipment

Account Title

Account Number

Normal Balance

Description

Semi-Expendable Machinery

10405010

Debit

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

Account Number

Normal Balance

Description

Semi-Expendable Office Equipment

10405020

Debit


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

Account Number

Normal Balance

Description

Semi-Expendable Information and Communication Technology

Equipment

10405030

Debit


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

Account Number

Normal Balance

Description

Semi-Expendable Agricultural and Forestry Equipment

10405040

Debit


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

Account Number

Normal Balance

Description

Semi-Expendable Marine and Fishery Equipment

10405050

Debit


purchased/acquired marine and fishery equipment costing less than

P15,000. Credit this account for issuance, transfers, loss or other

disposal.

Account Title

Account Number

Normal Balance

Description

Semi-Expendable Airport Equipment

10405060

Debit


purchased/acquired airport equipment costing less than P15,000 for

the use in government operations. Credit this account for issuance,

58


Account Title

Account Number

Normal Balance

Description

Semi-Expendable Communication Equipment

10405070

Debit


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

Account Number

Normal Balance

Description

Semi-Expendable Disaster Response and Rescue Equipment

10405080

Debit


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

Account Number

Normal Balance

Description

Semi-Expendable Military, Police and Security Equipment

10405090

Debit


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

Account Number

Normal Balance

Description

Semi-Expendable Medical Equipment

10405100

Debit


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

Account Number

Normal Balance

Description

Semi-Expendable Printing Equipment

10405110

Debit


purchased/acquired printing equipment costing less than P15,000

for the use in government printing needs. Credit this account for


59

Account Title

Account Number

Normal Balance

Description

Semi-Expendable Sports Equipment

10405120

Debit


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

Account Number

Normal Balance

Description

Semi-Expendable Technical and Scientific Equipment

10405130

Debit


purchased/acquired technical and scientific equipment costing less

than P15,000 for the use in government operations. Credit this


Account Title

Account Number

Normal Balance

Description

Semi-Expendable Construction and Heavy Equipment

10405140

Debit


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

Account Number

Normal Balance

Description

Semi-Expendable Gaming Equipment

10405150

Debit


purchased/acquired gaming equipment costing less than P15,000

for the use in government operations. Credit this account for


Account Title

Account Number

Normal Balance

Description

Semi-Expendable Other Machinery and Equipment

10405190

Debit


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

Account Number

Normal Balance

Description

Semi-Expendable Furniture and Fixtures

10406010

Debit


60

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

Account Number

Normal Balance

Description

Semi-Expendable Books

10406020

Debit


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

Account Number

Normal Balance

Description

Gold for Refining

10407010

Debit

This account is used to recognize the amount of local purchase of

gold from gold panners by the BSP gold buying stations.

Account Title

Account Number

Normal Balance

Description

Gold for Domestic Sales

10407020

Debit

This account is used to recognize the amount of manufactured gold

grains and gold sheets for sale to domestic buyers.

Account Title

Account Number

Normal Balance

Description

Silver for Domestic Sales

10407030

Debit

This account is used to recognize the amount of manufactured

silver grains and silver sheets for sale to domestic buyers.

Account Title

Account Number

Normal Balance

Description

Silver for Refining

10407040

Debit

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

61

05 Investment Property

01 Land and Buildings

Account Title

Account Number

Normal Balance

Description

Investment Property, Land

10501010

Debit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Investment Property, Land

10501011

Credit

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

Account Number

Normal Balance

Description

Investment Property, Buildings

10501020

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Investment Property, Buildings

10501021

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Investment Property, Buildings

10501022

Credit

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

62

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

Account Number

Normal Balance

Description

Construction in Progress-Investment Property, Buildings

10599010

Debit

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

Account Number

Normal Balance

Description

Land

10601010

Debit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Land

10601011

Credit

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

Account Number

Normal Balance

Description

Land Improvements, Aquaculture Structures

10602010

Debit

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.

63

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Land Improvements, Aquaculture

Structures

10602011

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Land Improvements, Aquaculture

Structures

10602012

Credit

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

Account Number

Normal Balance

Description

Land Improvements, Reforestation Projects

10602020

Debit


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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Land Improvements,

Reforestation Projects

10602021

Credit

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

Account Number

Normal Balance

Description

Other Land Improvements

10602990

Debit



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.

64

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Land Improvements

10602991

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Land Improvements

10602992

Credit

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

Account Number

Normal Balance

Description

Road Networks

10603010

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Road Networks

10603011

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Road Networks

10603012

Credit

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.

65

Account Title

Account Number

Normal Balance

Description

Flood Control Systems

10603020

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Flood Control Systems

10603021

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Flood Control Systems

10603022

Credit

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

Account Number

Normal Balance

Description

Sewer Systems

10603030

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Sewer Systems

10603031

Credit

This account is credited for the allocation of cost of sewer systems



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Sewer Systems

10603032

Credit

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

66

loss.

Account Title

Account Number

Normal Balance

Description

Water Supply Systems

10603040

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Water Supply Systems

10603041

Credit

This account is credited for the allocation of cost of water supply



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Water Supply Systems

10603042

Credit

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

Account Number

Normal Balance

Description

Power Supply Systems

10603050

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Power Supply Systems

10603051

Credit

This account is credited for the allocation of cost of power supply



67

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Power Supply Systems

10603052

Credit

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

Account Number

Normal Balance

Description

Communication Networks

10603060

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Communication Networks

10603061

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Communication Networks

10603062

Credit


communication networks to its recoverable amount due to

impairment. Debit this account upon derecognition of the asset and


Account Title

Account Number

Normal Balance

Description

Seaport Systems

10603070

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Seaport Systems

10603071

Credit

This account is credited for the allocation of cost of seaport systems



68

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Seaport Systems

10603072

Credit

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

Account Number

Normal Balance

Description

Airport Systems

10603080

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Airport Systems

10603081

Credit

This account is credited for the allocation of cost of airport systems



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Airport Systems

10603082

Credit

This account is credited for the amount recognized to reduce airport

systems to its recoverable amount due to impairment. Debit this


loss.

Account Title

Account Number

Normal Balance

Description

Parks, Plazas and Monuments

10603090

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Parks, Plazas and Monuments

10603091

Credit

This account is credited for the allocation of cost of parks, plazas

and monuments in accordance with the prescribed policy on

69

depreciation. Debit this account upon derecognition of the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Parks, Plazas and Monuments

10603092

Credit

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

Account Number

Normal Balance

Description

Railway Systems

10603100

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Railway Systems

10603101

Credit

This account is credited for the allocation of cost of railway



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Railway Systems

10603102

Credit


railway systems to its recoverable amount due to impairment.

Debit this account upon derecognition of the asset or reversal of

impairment loss.

Account Title

Account Number

Normal Balance

Description

Plant-Utility Plant in Service (UPIS)

10603110

Debit

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

70

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Plant (UPIS)

10603111

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Plant (UPIS)

10603112

Credit

This account is credited for the amount recognized to reduce plant

(UPIS) to its recoverable amount due to impairment. Debit this


loss.

Account Title

Account Number

Normal Balance

Description

Other Infrastructure Assets

10603990

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Infrastructure Assets

10603991

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Infrastructure Assets

10603992

Credit


infrastructure assets to its recoverable amount due to impairment.

Debit this account upon derecognition of the asset and reversal of

impairment loss.

71

04 Buildings and Other Structures

Account Title

Account Number

Normal Balance

Description

Buildings

10604010

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Buildings

10604011

Credit

This account is credited for the allocation of cost of buildings in


account upon disposal or derecognition of the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Buildings

10604012

Credit


buildings to its recoverable amount due to impairment. Debit this

account upon disposal, derecognition of the asset, or reversal of

impairment.

Account Title

Account Number

Normal Balance

Description

School Buildings

10604020

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-School Buildings

10604021

Credit

This account is credited for the allocation of cost of school

buildings in accordance with the prescribed policy on depreciation.


72

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-School Buildings

10604022

Credit

This account is credited for the amount recognized to reduce school

buildings to its recoverable amount due to impairment. Debit this


impairment.

Account Title

Account Number

Normal Balance

Description

Hospitals and Health Centers

10604030

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Hospitals and Health Centers

10604031

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Hospitals and Health Centers

10604032

Credit


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

Account Number

Normal Balance

Description

Markets

10604040

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Markets

10604041

Credit

This account is credited for the allocation of cost of markets in



73

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Markets

10604042

Credit


markets to its recoverable amount due to impairment. Debit this


impairment.

Account Title

Account Number

Normal Balance

Description

Slaughterhouses

10604050

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Slaughterhouses

10604051

Credit

This account is credited for the allocation of cost of

slaughterhouses in accordance with the prescribed policy on


the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Slaughterhouses

10604052

Credit


slaughterhouses to its recoverable amount due to impairment.

Debit this account upon disposal, derecognition of the asset, or

reversal of impairment.

Account Title

Account Number

Normal Balance

Description

Hostels and Dormitories

10604060

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Hostels and Dormitories

10604061

Credit

This account is credited for the allocation of cost of hostels and

dormitories in accordance with the prescribed policy on


74

the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Hostels and Dormitories

10604062

Credit


hostels and dormitories to its recoverable amount due to



Account Title

Account Number

Normal Balance

Description

Water Plant, Structure and Improvements

10604070

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Water Plant, Structure and

Improvements

10604071

Credit

This account is credited for the allocation of water plant, structure

and improvements in accordance with the prescribed policy on


the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Water Plant, Structure and

Improvements

10604072

Credit

This account is credited for the amount recognized to reduce water

plant, structure and improvements to its recoverable amount due to



Account Title

Account Number

Normal Balance

Description

Other Structures

10604990

Debit



transfers without cost, of other structures for use in government

75

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Structures

10604991

Credit

This account is credited for the allocation of cost of other structures


this account upon disposal or derecognition of the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Structures

10604992

Credit


structures to its recoverable amount due to impairment. Debit this


impairment.

05 Machinery and Equipment

Account Title

Account Number

Normal Balance

Description

Machinery

10605010

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Machinery

10605011

Credit


machinery in accordance with the prescribed policy on


the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Machinery

10605012

Credit


machinery to its recoverable amount due to impairment. Debit this


impairment.

76

Account Title

Account Number

Normal Balance

Description

Office Equipment

10605020

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Office Equipment

10605021

Credit

This account is credited for the allocation of cost of office

equipment in accordance with the prescribed policy on


the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Office Equipment

10605022

Credit

This account is credited for the amount recognized to reduce office

equipment to its recoverable amount due to impairment. Debit this


impairment.

Account Title

Account Number

Normal Balance

Description

Information and Communication Technology Equipment

10605030

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Information and Communication

Technology Equipment

10605031

Credit

This account is credited for the allocation of cost of information

and communication technology equipment in accordance with the



77

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Information and Communication

Technology Equipment

10605032

Credit


information and communication technology equipment to their


disposal, derecognition of the asset or reversal of impairment.

Account Title

Account Number

Normal Balance

Description

Agricultural and Forestry Equipment

10605040

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Agricultural and Forestry Equipment

10605041

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Agricultural and Forestry

Equipment

10605042

Credit


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

Account Number

Normal Balance

Description

Marine and Fishery Equipment

10605050

Debit



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.

78

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Marine and Fishery Equipment

10605051

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Marine and Fishery Equipment

10605052

Credit


marine and fishery equipment to its recoverable amount due to



Account Title

Account Number

Normal Balance

Description

Airport Equipment

10605060

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Airport Equipment

10605061

Credit

This account is credited for the allocation of cost of airport



the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Airport Equipment

10605062

Credit

This account is credited for the amount recognized to reduce airport



impairment.

Account Title

Account Number

Normal Balance

Description

Communication Equipment

10605070

Debit



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.

79

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Communication Equipment

10605071

Credit

This account is credited for the allocation of cost of communication



the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Communication Equipment

10605072

Credit


communication equipment to its recoverable amount due to



Account Title

Account Number

Normal Balance

Description

Construction and Heavy Equipment

10605080

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Construction and Heavy Equipment

10605081

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Construction and Heavy

Equipment

10605082

Credit


construction and heavy equipment to its recoverable amount due to



Account Title

Account Number

Normal Balance

Description

Disaster Response and Rescue Equipment

10605090

Debit


or assembly, or fair value, if acquired through donation or transfers

without cost, of equipment used solely for disaster response and

80

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Disaster Response and Rescue

Equipment

10605091

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Disaster Response and Rescue

Equipment

10605092

Credit


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

Account Number

Normal Balance

Description

Military, Police and Security Equipment

10605100

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Military, Police and Security

Equipment

10605101

Credit

This account is credited for the allocation of cost of military, police

and security equipment in accordance with the prescribed policy on


the asset.

81

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Military, Police and Security

Equipment

10605102

Credit


military, police and security equipment to its recoverable amount



Account Title

Account Number

Normal Balance

Description

Medical Equipment

10605110

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Medical Equipment

10605111

Credit

This account is credited for the allocation of cost of medical



the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Medical Equipment

10605112

Credit


medical equipment to its recoverable amount due to impairment.



Account Title

Account Number

Normal Balance

Description

Printing Equipment

10605120

Debit



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

82


disposal.

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Printing Equipment

10605121

Credit

This account is credited for the allocation of cost of printing



the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Printing Equipment

10605122

Credit


printing equipment to its recoverable amount due to impairment.



Account Title

Account Number

Normal Balance

Description

Sports Equipment

10605130

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Sports Equipment

10605131

Credit

This account is credited for the allocation of cost of sports



the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Sports Equipment

10605132

Credit

This account is credited for the amount recognized to reduce sports



impairment.

83

Account Title

Account Number

Normal Balance

Description

Technical and Scientific Equipment

10605140

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Technical and Scientific Equipment

10605141

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Technical and Scientific

Equipment

10605142

Credit


technical and scientific equipment to its recoverable amount due to



Account Title

Account Number

Normal Balance

Description

Gaming Equipment

10605150

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Gaming Equipment

10605151

Credit

This account is credited for the allocation of cost of gaming



the asset.

84

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Gaming Equipment

10605152

Credit


gaming equipment to its recoverable amount due to impairment.



Account Title

Account Number

Normal Balance

Description

Other Equipment

10605990

Debit



without cost, of other equipment, not otherwise classified under the

specific equipment accounts. Credit this account for derecognition


disposal.

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Equipment

10605991

Credit




the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Equipment

10605992

Credit




impairment.

06 Transportation Equipment

Account Title

Account Number

Normal Balance

Description

Motor Vehicles

10606010

Debit



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.

85

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Motor Vehicles

10606011

Credit

This account is credited for the allocation of cost of motor vehicles


this account upon disposal or derecognition of the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Motor Vehicles

10606012

Credit

This account is credited for the amount recognized to reduce motor

vehicles to its recoverable amount due to impairment. Debit this


impairment.

Account Title

Account Number

Normal Balance

Description

Trains

10606020

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Trains

10606021

Credit

This account is credited for the allocation of cost of trains in



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Trains

10606022

Credit

This account is credited for the amount recognized to reduce trains


upon disposal, derecognition of the asset, or reversal of impairment.

Account Title

Account Number

Normal Balance

Description

Aircrafts and Aircrafts Ground Equipment

10606030

Debit



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.

86

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Aircrafts and Aircrafts Ground

Equipment

10606031

Credit

This account is credited for the allocation of cost of aircrafts and

aircrafts ground equipment in accordance with the prescribed



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Aircrafts and Aircrafts Ground

Equipment

10606032

Credit


aircrafts and aircrafts ground equipment to its recoverable amount



Account Title

Account Number

Normal Balance

Description

Watercrafts

10606040

Debit



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

Account Number

Normal Balance

Description

Accumulated Depreciation-Watercrafts

10606041

Credit

This account is credited for the allocation of cost of watercrafts in



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Watercrafts

10606042

Credit


watercrafts to its recoverable amount due to impairment. Debit this


impairment.

Account Title

Account Number

Normal Balance

Description

Other Transportation Equipment

10606990

Debit


or assembly, or fair value, if acquired through donation or transfers

without cost, of other transportation equipment which are not

87

classified under the specific transportation equipment accounts.


replaced parts in major repairs, or disposal.

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Transportation Equipment

10606991

Credit


transportation equipment in accordance with the prescribed policy

on depreciation. Debit this account upon disposal or derecognition

of the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Transportation Equipment

10606992

Credit


transportation equipment to its recoverable amount due to



07 Furniture, Fixtures and Books

Account Title

Account Number

Normal Balance

Description

Furniture and Fixtures

10607010

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Furniture and Fixtures

10607011

Credit

This account is credited for the allocation of cost of furniture and

fixtures in accordance with the prescribed policy on depreciation.


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Furniture and Fixtures

10607012

Credit


furniture and fixtures to its recoverable amount due to impairment.



88

Account Title

Account Number

Normal Balance

Description

Books

10607020

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Books

10607021

Credit

This account is credited for the allocation of cost of books in



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Books

10607022

Credit

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

Account Number

Normal Balance

Description

Leased Assets, Land

10608010

Debit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Leased Assets, Land

10608011

Credit

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

Account Number

Normal Balance

Description

Leased Assets, Buildings and Other Structures

10608020

Debit

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.

89

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Leased Assets, Buildings and Other

Structures

10608021

Credit

This account is credited for the allocation of cost of buildings and

other structures under a finance lease in accordance with the



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Leased Assets, Buildings and

Other Structures

10608022

Credit


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

Account Number

Normal Balance

Description

Leased Assets, Machinery and Equipment

10608030

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Leased Assets, Machinery and

Equipment

10608031

Credit

This account is credited for the allocation of cost of machinery and

equipment under a finance lease in accordance with the prescribed



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Leased Assets, Machinery and

Equipment

10608032

Credit


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

Account Number

Normal Balance

Description

Leased Assets, Transportation Equipment

10608040

Debit

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

90

or to close the account upon termination of the lease contract.

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Leased Assets, Transportation

Equipment

10608041

Credit

This account is credited for the allocation of cost of transportation

equipment under a finance lease in accordance with the prescribed



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Leased Assets, Transportation

Equipment

10608042

Credit


recoverable amount the value of transportation equipment under a



Account Title

Account Number

Normal Balance

Description

Leased Assets, Furniture and Fixtures

10608050

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Leased Assets, Furniture and Fixtures

10608051

Credit

This account is credited for the allocation of cost of furniture and

fixtures under a finance lease in accordance with the prescribed



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Leased Assets, Furniture and

Fixtures

10608052

Credit


recoverable amount the value of furniture and fixtures under a



91

Account Title

Account Number

Normal Balance

Description

Other Leased Assets

10608990

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Leased Assets

10608991

Credit

This account is credited for the allocation of cost of other leased

assets in accordance with the prescribed policy on depreciation.


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Leased Assets

10608992

Credit


recoverable amount the value other assets under a finance lease due



09 Leased Assets Improvements

Account Title

Account Number

Normal Balance

Description

Leased Assets Improvements, Land

10609010

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Leased Assets Improvements, Land

10609011

Credit

This account is credited for the allocation of cost of leasehold

improvements on land under operating lease in accordance with the



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Leased Assets Improvements,

Land

10609012

Credit


recoverable amount the value of improvements on land under an

92

operating lease due to impairment. Debit this account upon


Account Title

Account Number

Normal Balance

Description

Leased Assets Improvements, Buildings

10609020

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Leased Assets Improvements, Buildings

10609021

Credit

This account is credited for the allocation of cost of improvements

on buildings under an operating lease in accordance with the



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Leased Assets Improvements,

Buildings

10609022

Credit


recoverable amount the value of improvements on buildings under

an operating lease due to impairment. Debit this account upon


Account Title

Account Number

Normal Balance

Description

Other Leased Assets Improvements

10609990

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Leased Assets Improvements

10609991

Credit


improvements on other assets/structures under operating lease in



93

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Leased Assets

Improvements

10609992

Credit


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

Account Number

Normal Balance

Description

Historical Buildings

10610010

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Historical Buildings

10610011

Credit

This account is credited for the allocation of cost of historical

buildings in accordance with the prescribed policy on depreciation.


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Historical Buildings

10610012

Credit


historical buildings to their recoverable amount due to impairment.



Account Title

Account Number

Normal Balance

Description

Works of Arts and Archeological Specimens

10610020

Debit

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.

94

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Works of Arts and Archeological

Specimens

10610021

Credit

This account is credited for the allocation of cost of works of arts

and archeological specimens in accordance with the prescribed



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Works of Arts and Archeological

Specimens

10610022

Credit

This account is credited for the amount recognized to reduce works

of arts and archeological specimens to their recoverable amount



Account Title

Account Number

Normal Balance

Description

Other Heritage Assets

10610990

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Heritage Assets

10610991

Credit

This account is credited for the allocation of cost of other heritage



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Heritage Assets

10610992

Credit


heritage assets to their recoverable amount due to impairment.



95

11 Service Concession-Tangible Assets

Account Title

Account Number

Normal Balance

Description

Service Concession-Road Networks

10611010

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Road Networks

10611011

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Road

Networks

10611012

Credit


service concession-road networks to its recoverable amount due to

impairment. Debit this account upon derecognition of the asset or


Account Title

Account Number

Normal Balance

Description

Service Concession-Flood Control Systems

10611020

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Flood Control

Systems

10611021

Credit


concession-flood control systems in accordance with the prescribed

policy on depreciation. Debit this account upon derecognition of

asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Flood

Control Systems

10611022

Credit


service concession-flood control systems to its recoverable amount

due to impairment. Debit this account upon derecognition of the

96

asset or reversal of impairment loss.

Account Title

Account Number

Normal Balance

Description

Service Concession-Sewer Systems

10611030

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Sewer Systems

10611031

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Sewer

Systems

10611032

Credit


service concession-sewer systems to its recoverable amount due to

impairment. Debit this account upon derecognition of the asset or


Account Title

Account Number

Normal Balance

Description

Service Concession-Water Supply Systems

10611040

Debit

This account is used to recognize the cost of water supply systems




Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Water Supply

Systems

10611041

Credit


water supply systems in accordance with the prescribed policy on


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Water

Supply Systems

10611042

Credit


service concession-water supply systems to its recoverable amount

due to impairment. Debit this account upon derecognition of asset

or reversal of impairment loss.

97

Account Title

Account Number

Normal Balance

Description

Service Concession-Power Supply Systems

10611050

Debit

This account is used to recognize the cost of power supply systems




Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Power Supply

Systems

10611051

Credit


power supply systems in accordance with the prescribed policy on


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Power

Supply Systems

10611052

Credit


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

Account Number

Normal Balance

Description

Service Concession-Communication Networks

10611060

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Communication

Networks

10611061

Credit


communication networks in accordance with the prescribed policy

on depreciation. Debit this account upon derecognition of asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-

Communication Networks

10611062

Credit


service concession-communication networks to its recoverable

amount due to impairment. Debit this account upon derecognition

of asset or reversal of impairment loss.

98

Account Title

Account Number

Normal Balance

Description

Service Concession-Seaport Systems

10611070

Debit

This account is used to recognize the cost of seaport systems




Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Seaport Systems

10611071

Credit


seaport systems in accordance with the prescribed policy on

depreciation. Debit his account upon derecognition of asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Seaport

Systems

10611072

Credit


service concession-seaport systems to its recoverable amount due to

impairment. Debit this account upon derecognition of asset or


Account Title

Account Number

Normal Balance

Description

Service Concession-Airport Systems

10611080

Debit

This account is used to recognize the cost of airport systems




Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Airport Systems

10611081

Credit


airport systems in accordance with the prescribed policy on


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Airport

Systems

10611082

Credit


service concession-airport systems to its recoverable amount due to



99

Account Title

Account Number

Normal Balance

Description

Service Concession-Parks, Plazas and Monuments

10611090

Debit

This account is used to recognize the cost of parks, plazas and

monuments recognized as a result of service concession



Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Parks, Plazas and

Monuments

10611091

Credit


parks, plazas and monuments in accordance with the prescribed


asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Parks, Plazas

and Monuments

10611092

Credit


service concession-parks, plazas and monuments to its recoverable



Account Title

Account Number

Normal Balance

Description

Service Concession-Railway Systems

10611110

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Railway Systems

10611111

Credit


concession-railway systems in accordance with the prescribed


the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Railway

Systems

10611112

Credit


service concession-railway systems to its recoverable amount due

to impairment. Debit this account upon derecognition of the asset

100

or reversal of impairment.

Account Title

Account Number

Normal Balance

Description

Service Concession-Buildings and Other Structures

10611120

Debit

This account is used to recognize the cost of buildings and other

structures recognized as a result of service concession



Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Buildings and

Other Structures

10611121

Credit


buildings and other structures in accordance with the prescribed


asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Buildings

and Other Structures

10611122

Credit


service concession-buildings and other structures to its recoverable



Account Title

Account Number

Normal Balance

Description

Service Concession-Machinery and Equipment

10611130

Debit

This account is used to recognize the cost of machinery and

equipment recognized as a result of service concession



Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Machinery and

Equipment

10611131

Credit


machinery and equipment in accordance with the prescribed policy


101

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Machinery

and Equipment

10611132

Credit


service concession-machinery and equipment to its recoverable



Account Title

Account Number

Normal Balance

Description

Service Concession-Transportation Equipment

10611140

Debit

This account is used to recognize the cost of transportation

equipment recognized as a result of service concession



Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Transportation

Equipment

10611141

Credit


transportation equipment in accordance with the prescribed policy


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-

Transportation Equipment

10611142

Credit


service concession-transportation equipment to its recoverable



Account Title

Account Number

Normal Balance

Description

Service Concession-Furniture, Fixtures and Books

10611150

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Service Concession-Furniture, Fixtures

and Books

10611151

Credit


furniture, fixtures and books in accordance with the prescribed


102

asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Furniture,

Fixtures and Books

10611152

Credit


service concession-furniture, fixtures and books to its recoverable



Account Title

Account Number

Normal Balance

Description

Service Concession-Land

10611160

Debit

This account is used to recognize the cost of land recognized as a

result of service concession arrangements. Credit this account upon


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Land

10611161

Credit


service concession-land to its recoverable amount due to



Account Title

Account Number

Normal Balance

Description

Other Service Concession Assets

10611990

Debit

This account is used to recognize the cost of other service

concession assets recognized as a result of service concession



Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Service Concession Assets

10611991

Credit

This account is credited for the allocation of other service

concession assets in accordance with the prescribed policy on


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Service Concession Assets

10611992

Credit


service concession assets to its recoverable amount due to



103

12 Exploration and Evaluation Assets

Account Title

Account Number

Normal Balance

Description

Underground Tunnel

10612010

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Underground Tunnel

10612011

Credit

This account is credited for the allocation of cost of underground

tunnel in accordance with the prescribed policy on depreciation.


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Underground Tunnel

10612012

Credit


underground tunnel to its recoverable amount due to impairment.



Account Title

Account Number

Normal Balance

Description

Mining Equipment

10612020

Debit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Mining Equipment

10612021

Credit

This account is credited for the allocation of cost of mining



the asset.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Mining Equipment

10612022

Credit


mining equipment to its recoverable amount due to impairment.

104



Account Title

Account Number

Normal Balance

Description

Other Exploration and Evaluation Assets

10612990

Debit


or fair value, if acquired through donation or transfers without cost

of exploration and evaluation assets other than tunnel and mining

equipment.

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Exploration and Evaluation

Assets

10612991

Credit


exploration and evaluation assets in accordance with the prescribed



Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Exploration and Evaluation

Assets

10612992

Credit


exploration and evaluation assets to its recoverable amount due to



13 Bearer Trees, Plants and Crops

Account Title

Account Number

Normal Balance

Description

Bearer Trees, Plants and Crops

10613010

Debit


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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Bearer Trees, Plants and Crops

10613011

Debit

This account is credited for the amount recognized to reduce bearer

trees, plants and crops to its recoverable amount due to impairment.



105

98 Other Property, Plant and Equipment

Account Title

Account Number

Normal Balance

Description

Work/Zoo Animals

10698010

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Work/Zoo Animals

10698011

Credit

This account is credited for the allocation of cost of work/zoo

animals in accordance with the prescribed policy on depreciation.


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Work/Zoo Animals

10698012

Credit


work/zoo animals to its recoverable amount due to impairment.



Account Title

Account Number

Normal Balance

Description

Other Property, Plant and Equipment

10698990

Debit

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

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Property, Plant and Equipment

10698991

Credit

This account is credited for the allocation of cost of other property,

plant and equipment in accordance with the prescribed policy on


the asset.

106

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Property, Plant and

Equipment

10698992

Credit


property, plant and equipment to its recoverable amount due to



99 Construction in Progress

Account Title

Account Number

Normal Balance

Description

Construction in Progress-Land Improvements

10699010

Debit


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

Account Number

Normal Balance

Description

Construction in Progress-Infrastructure Assets

10699020

Debit


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

Account Number

Normal Balance

Description

Construction in Progress-Buildings and Other Structures

10699030

Debit


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

Account Number

Normal Balance

Description

Construction in Progress-Leased Assets

10699040

Debit


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.

107

Account Title

Account Number

Normal Balance

Description

Construction in Progress-Leased Assets Improvements

10699050

Debit


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

Account Number

Normal Balance

Description

Construction in Progress-Furniture and Fixtures

10699060

Debit

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

Account Number

Normal Balance

Description

Breeding Stocks

10701010

Debit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Breeding Stocks

10701011

Credit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Breeding Stocks

10701012

Credit

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.

108

Account Title

Account Number

Normal Balance

Description

Livestock

10701020

Debit


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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Livestock

10701021

Credit


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

Account Number

Normal Balance

Description

Accumulated Depreciation-Livestock

10701022

Credit

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

Account Number

Normal Balance

Description

Trees, Plants and Crops

10701030

Debit


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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Trees, Plants and Crops

10701031

Credit

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.

109

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Trees, Plants and Crops

10701032

Credit

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

Account Number

Normal Balance

Description

Aquaculture

10701040

Debit


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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Aquaculture

10701041

Credit


aquaculture to its recoverable amount due to impairment. Debit


impairment.

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Aquaculture

10701042

Credit

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

Account Number

Normal Balance

Description

Other Bearer Biological Assets

10701990

Debit


through donation or transfers without cost, of other bearer

biological assets. Credit this account upon disposal or


Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Bearer Biological Assets

10701991

Credit


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

110

reliably.

Account Title

Account Number

Normal Balance

Description

Accumulated Depreciation-Other Bearer Biological Assets

10701992

Credit

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

Account Number

Normal Balance

Description

Livestock Held for Consumption/Sale/Distribution

10702010

Debit


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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Livestock Held for

Consumption/Sale/Distribution

10702011

Credit


livestock held for consumption/sale/distribution to its recoverable

amount due to impairment. Debit this account upon disposal,


Account Title

Account Number

Normal Balance

Description

Trees, Plants and Crops Held for Consumption/Sale/Distribution

10702020

Debit



trees, plants and crops held for consumption/sale/distribution.

Credit this account for sale, loss or death or upon consumption or

distribution.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Trees, Plants and Crops Held for


10702021

Credit

This account is credited for the amount recognized to reduce trees,

plants and crops held for consumption/ sale/distribution to its



111

Account Title

Account Number

Normal Balance

Description

Agricultural Produce Held for Consumption/Sale/Distribution

10702030

Debit



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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Agricultural Produce Held for


10702031

Credit


agricultural produce held for consumption/sale/distribution to its



Account Title

Account Number

Normal Balance

Description

Aquaculture Held for Consumption/Sale/Distribution

10702040

Debit



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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Aquaculture Held for


10702041

Credit

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

Account Number

Normal Balance

Description

Other Consumable Biological Assets

10702990

Debit


through donation or transfers without cost, of other consumable

biological assets. Credit this account upon disposal or


112

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Consumable Biological

Assets

10702991

Credit


value of other biological assets held for

consumption/sale/distribution to its recoverable amount due to



08 Intangible Assets

01 Intangible Assets

Account Title

Account Number

Normal Balance

Description

Patents/Copyrights

10801010

Debit

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

Account Number

Normal Balance

Description

Accumulated Amortization-Patents/Copyrights

10801011

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Patents/Copyrights

10801012

Credit


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

Account Number

Normal Balance

Description

Computer Software

10801020

Debit

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.

113

Account Title

Account Number

Normal Balance

Description

Accumulated Amortization-Computer Software

10801021

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Computer Software

10801022

Credit


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

Account Number

Normal Balance

Description

Websites

10801030

Debit

This account is used to recognize the cost of completed website.

Credit this account for obsolescence, transfers or other disposal.

Account Title

Account Number

Normal Balance

Description

Accumulated Amortization-Websites

10801031

Credit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Websites

10801032

Credit


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

Account Number

Normal Balance

Description

Goodwill

10801040

Debit

This account is used to recognize the excess of amount paid over

the fair value of the net identifiable assets acquired.

114

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Goodwill

10801041

Credit

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

Account Number

Normal Balance

Description

Other Intangible Assets

10801980

Debit

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

Account Number

Normal Balance

Description

Accumulated Amortization-Other Intangible Assets

10801981

Credit


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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Intangible Assets

10801982

Credit


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

Account Number

Normal Balance

Description

Service Concession-Intangible Assets

10802010

Debit

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

Account Number

Normal Balance

Description

Accumulated Amortization-Service Concession-Intangible Assets

10802011

Credit


concession-intangible assets in accordance with the prescribed

115

policy on amortization. Debit this account upon termination and/or

revocation of rights and benefits, transfers or other disposal.

Account Title

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Service Concession-Intangible

Assets

10802012

Credit


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

Account Number

Normal Balance

Description

Development in Progress-Patents/Copyrights

10899010

Debit

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

Account Number

Normal Balance

Description

Development in Progress-Computer Software

10899020

Debit

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

Account Number

Normal Balance

Description

Development in Progress-Websites

10899030

Debit

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

Account Number

Normal Balance

Description

Development in Progress-Other Intangible Assets

10899980

Debit

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.

116

09 International Reserves

01 International Reserves

Account Title

Account Number

Normal Balance

Description

Due from Foreign Banks-Demand Deposits

10901010

Debit

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

Account Number

Normal Balance

Description

Foreign Currency on Hand

10901020

Debit

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

Account Number

Normal Balance

Description

Foreign Currency in Transit

10901030

Debit

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

Account Number

Normal Balance

Description

Foreign Investments

10901040

Debit

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

Account Number

Normal Balance

Description

Gold with Foreign Financial Institutions

10901050

Debit

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).

117

Account Title

Account Number

Normal Balance

Description

Accrued Interest Paid on Foreign Securities Purchased

10901060

Debit

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

Account Number

Normal Balance

Description

Holdings of Special Drawing Rights

10901070

Debit

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

Account Number

Normal Balance

Description

Foreign Exchange Receivables

11001010

Debit

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

Account Number

Normal Balance

Description

Due from Foreign Banks-Special Accounts

11002010

Debit

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).

118

03 Investments in Other Foreign Exchange Denominated Securities

Account Title

Account Number

Normal Balance

Description

Investments in Other Foreign Exchange Denominated Securities

11003010

Debit

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

Account Number

Normal Balance

Description

Non-Current Assets Held for Sale

11101010

Debit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Non-Current Assets Held for

Sale

11101011

Credit


value of non-current assets held for sale to its recoverable



12 Deferred Tax Assets

01 Deferred Tax Assets

Account Title

Account Number

Normal Balance

Description

Deferred Tax Assets

11201010

Debit

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.

119

99 Other Assets

01 Advances

Account Title

Account Number

Normal Balance

Description

Advances for Operating Expenses

19901010

Debit

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

Account Number

Normal Balance

Description

Advances for Payroll

19901020

Debit

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

Account Number

Normal Balance

Description

Advances to Special Disbursing Officer

19901030

Debit

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

Account Number

Normal Balance

Description

Advances to Officers and Employees

19901040

Debit

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

Account Number

Normal Balance

Description

Advances to Contractors

19902010

Debit

This account is used to recognize amount advanced to contractors

as authorized by law. Credit this account for recoupment of

advances.

Account Title

Account Number

Normal Balance

Description

Prepaid Rent

19902020

Debit

This account is used to recognize the amount advanced/deposited

for leases/rentals of property, plant and equipment used in

120

government operations. Credit this account for the expended

amount.

Account Title

Account Number

Normal Balance

Description

Prepaid Registration

19902030

Debit

This account is used to recognize the amount advanced for

registration of government property. Credit this account for the

expended amount.

Account Title

Account Number

Normal Balance

Description

Prepaid Interest

19902040

Debit

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

Account Number

Normal Balance

Description

Prepaid Insurance

19902050

Debit

This account is used to recognize the amount advanced for the

insurance of government property. Credit this account for the

expended amount.

Account Title

Account Number

Normal Balance

Description

Input Tax

19902060

Debit

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

Account Number

Normal Balance

Description

Creditable Input Tax

19902070

Debit

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

Account Number

Normal Balance

Description

Withholding Tax at Source

19902080

Debit

This account is used to recognize the amount of creditable

121

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

Account Number

Normal Balance

Description

Other Prepayments

19902990

Debit

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

Account Number

Normal Balance

Description

Deposit on Letters of Credit

19903010

Debit

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

Account Number

Normal Balance

Description

Guaranty Deposits

19903020

Debit

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

Account Number

Normal Balance

Description

Other Deposits

19903990

Debit

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

Account Number

Normal Balance

Description

Restricted Fund

19904010

Debit

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.

122

99 Other Assets

Account Title

Account Number

Normal Balance

Description

Foreclosed Property/Assets

19999020

Debit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Foreclosed Property/Assets

19999021

Credit


value of foreclosed property/asset to its recoverable amount due to

impairment. Debit this account upon disposal, derecognition of


Account Title

Account Number

Normal Balance

Description

Forfeited Property/Assets

19999030

Debit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Forfeited Property/Assets

19999031

Credit


value of forfeited property/assets to its recoverable amount due to

impairment. Debit this account upon disposal, derecognition of


Account Title

Account Number

Normal Balance

Description

Confiscated Property/Assets

19999040

Debit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Confiscated Property/Assets

19999041

Credit


value of confiscated property/assets to its recoverable amount due



123

Account Title

Account Number

Normal Balance

Description

Abandoned/Surrendered Property/Assets

19999050

Debit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Abandoned/Surrendered

Property/Assets

19999051

Credit


value of abandoned/surrendered property/assets to its recoverable



Account Title

Account Number

Normal Balance

Description

Demonetized Commemorative Coins

19999060

Debit

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

Account Number

Normal Balance

Description

Commemorative Notes and Coins

19999070

Debit

This account is used to recognize the commemorative notes and

coins acquired by the Department of General Services of BSP.

Account Title

Account Number

Normal Balance

Description

Deferred Charges/Losses

19999080

Debit

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

Account Number

Normal Balance

Description

Items Under Litigation

19999090

Debit

This account is used to recognize the amount of various claims the

collection of which is uncertain due to pending court proceedings.

124

Account Title

Account Number

Normal Balance

Description

Other Assets

19999990

Debit

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

Account Number

Normal Balance

Description

Accumulated Impairment Losses-Other Assets

19999991

Credit

This account is credited for the amount recognized to reduce asset

not falling under any of the specific asset accounts to its



2 L I A B I L I T I E S

2 Liabilities

01 Financial Liabilities

01 Payables

Account Title

Account Number

Normal Balance

Description

Accounts Payable

20101010

Credit

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

Account Number

Normal Balance

Description

Due to Officers and Employees

20101020

Credit

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

Account Number

Normal Balance

Description

Notes Payable

20101040

Credit

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.

125

Account Title

Account Number

Normal Balance

Description

Interest Payable

20101050

Credit

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

Account Number

Normal Balance

Description

Operating Lease Payable

20101060

Credit

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

Account Number

Normal Balance

Description

Finance Lease Payable

20101070

Credit

This account is used to recognize incurrence of liability arising

from finance lease contract. Debit this account for the payment of

lease.

Account Title

Account Number

Normal Balance

Description

Awards and Rewards Payable

20101080

Credit

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

Account Number

Normal Balance

Description

Service Concession Arrangements Payable

20101090

Credit

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

Account Number

Normal Balance

Description

Accrued Benefits Payable

20101100

Credit

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

126

this account upon payment of the benefits.

Account Title

Account Number

Normal Balance

Description

Insurance/Reinsurance Premium Payable

20101110

Credit

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

Account Number

Normal Balance

Description

Treasury Bills Payable

20102010

Credit

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

Account Number

Normal Balance

Description

Bonds Payable-Domestic

20102020

Credit

This account is used to recognize issuances/flotations of peso-

denominated bonds. Debit this account for redemptions of bonds.

Account Title

Account Number

Normal Balance

Description

Discount on Bonds Payable-Domestic

20102021

Debit

This account is used to recognize discounts on issuance of peso-

denominated bonds. Credit this account for amortization of the

discount.

Account Title

Account Number

Normal Balance

Description

Premium on Bonds Payable-Domestic

20102022

Credit

This account is used to recognize premiums on issuance of peso-

denominated bonds. Debit this account for amortization of the

premium.

Account Title

Account Number

Normal Balance

Description

Bond Issue Cost-Domestic

20102023

Debit

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.

127

Account Title

Account Number

Normal Balance

Description

Bonds Payable-Foreign

20102030

Credit

This account is used to recognize offshore issuances/flotations of

foreign currency-denominated bonds. Debit this account for

redemptions of bonds.

Account Title

Account Number

Normal Balance

Description

Discount on Bonds Payable-Foreign

20102031

Debit

This account is used to recognize discounts on issuance of foreign

currency-denominated bonds. Credit this account for amortization

of the discount.

Account Title

Account Number

Normal Balance

Description

Premium on Bonds Payable-Foreign

20102032

Credit

This account is used to recognize premiums on issuance of foreign

currency-denominated bonds. Debit this account for amortization

of the premium.

Account Title

Account Number

Normal Balance

Description

Bond Issue Cost-Foreign

20102033

Debit

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

Account Number

Normal Balance

Description

Loans Payable-Domestic

20102040

Credit

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

Account Number

Normal Balance

Description

Loans Payable-Foreign

20102050

Credit

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

128

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

Account Number

Normal Balance

Description

Bills Payable-Bangko Sentralng Pilipinas

20102060

Credit

This account is used to recognize the amortized cost of obligations

to the BSP. Debit this account for payments of loan amortization.

Account Title

Account Number

Normal Balance

Description

Redeemable Preferred Shares

20102070

Credit

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

Account Number

Normal Balance

Description

Term Loan Facility

20102080

Credit

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

Account Number

Normal Balance

Description

Other Bills/Bonds/Loans Payable

20102990

Credit

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

Account Number

Normal Balance

Description

Tax Refunds Payable

20103010

Credit

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.

129

04 Financial Liabilities Designated at Fair Value through Surplus/Profit

or Deficit/Loss

Account Title

Account Number

Normal Balance

Description

Financial Liability Designated at Fair Value through


20104010

Credit

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

Account Number

Normal Balance

Description

Derivatives Financial Liability with Negative Fair Value Held for

Trading

20105010

Credit

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

Account Number

Normal Balance

Description

Liability for Short Position

20105020

Credit

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

Account Number

Normal Balance

Description

Financial Liabilities Associated with Transferred Assets

20106010

Credit

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.

130

07 Domestic Securities Sold Under Repurchase Agreements

Account Title

Account Number

Normal Balance

Description

Domestic Securities Sold Under Repurchase Agreements

20107010

Credit

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

Account Number

Normal Balance

Description

Unsecured Subordinated Debt

20108010

Credit

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

Account Number

Normal Balance

Description

Unamortized Unsecured Subordinated Debt Discount

20108011

Debit

This account is used to recognize the discount on unsecured

subordinated debt. Credit this account for amortization of the

discount.

Account Title

Account Number

Normal Balance

Description

Unamortized Unsecured Subordinated Debt Premium

20108012

Credit

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

Account Number

Normal Balance

Description

Other Financial Liabilities

20199990

Credit

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.

131

02 Inter-Agency Payables

01 Inter-Agency Payables

Account Title

Account Number

Normal Balance

Description

Due to BIR

20201010

Credit

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

Account Number

Normal Balance

Description

Due to GSIS

20201020

Credit

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

Account Number

Normal Balance

Description

Due to Pag-IBIG

20201030

Credit



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

132

Account Title

Account Number

Normal Balance

Description

Due to PhilHealth

20201040

Credit


premium payments for remittance to the Philippine Health

Insurance Corporation (PHIC). Debit this account for the

remittance of withheld amount.

Account Title

Account Number

Normal Balance

Description

Due to NGAs

20201050

Credit

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

Account Number

Normal Balance

Description

Due to Government Corporations

20201060

Credit

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

Account Number

Normal Balance

Description

Due to LGUs

20201070

Credit

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

Account Number

Normal Balance

Description

Due to Subsidiaries/Joint Venture/Associates/Affiliates

20201080

Credit

This account is used to recognize the amounts payable to

subsidiaries/joint ventures/associates/affiliates. Debit this account


133

Account Title

Account Number

Normal Balance

Description

Due to Treasurer of the Philippines

20201090

Credit

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

Account Number

Normal Balance

Description

Due to Parent Corporations

20201100

Credit

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

Account Number

Normal Balance

Description

Due to SSS

20201110

Credit



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

Account Number

Normal Balance

Description

Value Added Tax Payable

20201120

Credit

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

Account Number

Normal Balance

Description

Income Tax Payable

20201130

Credit

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.

134

02 Due to BSP/Other Banks/Others

Account Title

Account Number

Normal Balance

Description

Due to BSP

20202010

Credit

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

Account Number

Normal Balance

Description

Due to Resident Banks-Clearing Accounts

20202020

Credit

This account is used to recognize the credit balances of deposit

account maintained by other resident banks as clearing account.

Account Title

Account Number

Normal Balance

Description

Due to Non-Resident Banks-Working Capital

20202030

Credit

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

Account Number

Normal Balance

Description

Due to Foreign Currency Deposit Unit/Regional Banking Units

20202040

Credit

This account is used to recognize the credit balances for clearing

of items/transactions between FCDU/RBU.

Account Title

Account Number

Normal Balance

Description

Interbank Loans Payable

20202050

Credit

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

135

Account Title

Account Number

Normal Balance

Description

Due to International Monetary Fund

20202060

Credit

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

Account Number

Normal Balance

Description

Allocation of Special Drawing Rights

20202070

Credit

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

Account Number

Normal Balance

Description

Due to Philippine Deposit Insurance Corporation

20202080

Credit

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

Account Number

Normal Balance

Description

Due to Philippine Crop Insurance Corporation

20202090

Credit

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

Account Number

Normal Balance

Description

Due to Head Office/Branches/Agencies Abroad

20202100

Credit

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

Account Number

Normal Balance

Description

Others

20202990

Credit

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.

136

03 Intra-Agency Payables

01 Intra-Agency Payables

Account Title

Account Number

Normal Balance

Description

Due to Operating Units

20301040

Credit

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

Account Number

Normal Balance

Description

Due to Other Funds

20301050

Credit

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

Account Number

Normal Balance

Description

Due to Central/Home/Head Office

20301060

Credit

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

Account Number

Normal Balance

Description

Due to Regional/Branch Offices

20301070

Credit

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

Account Number

Normal Balance

Description

Trust Liabilities

20401010

Credit

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.

137

Account Title

Account Number

Normal Balance

Description

Trust Liabilities-Disaster Risk Reduction and Management Fund

20401020

Credit

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

Account Number

Normal Balance

Description

Bail Bonds Payable

20401030

Credit

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

Account Number

Normal Balance

Description

Guaranty/Security Deposits Payable

20401040

Credit

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

Account Number

Normal Balance

Description

Customers’ Deposits Payable

20401050

Credit

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

Account Number

Normal Balance

Description

Margin Deposits

20401060

Credit

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.

138

Account Title

Account Number

Normal Balance

Description

Deposit from Prospective Investors

20401070

Credit

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

Account Number

Normal Balance

Description

Deferred Finance Lease Revenue

20501010

Credit

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

Account Number

Normal Balance

Description

Deferred Service Concession Revenue

20501020

Credit

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

Account Number

Normal Balance

Description

Output Tax

20501030

Credit

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

Account Number

Normal Balance

Description

Other Deferred Credits

20501990

Credit

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.

139

02 Unearned Revenue/Income

Account Title

Account Number

Normal Balance

Description

Unearned Revenue/Income-Investment Property

20502010

Credit

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

Account Number

Normal Balance

Description

Unearned Tax Subsidy

20502020

Credit

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

Account Number

Normal Balance

Description

Commitment Contribution

20502030

Credit

This account is used to recognize commitment contribution for

the upgrading of airports. Debit this account when revenue is

earned.

Account Title

Account Number

Normal Balance

Description

Reserve for Unearned Premiums

20502040

Credit

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

Account Number

Normal Balance

Description

Other Unearned Revenue/Income

20502990

Credit

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

Account Number

Normal Balance

Description

Pension Benefits Payable

20601010

Credit

This account is used to recognize accrual of pension of

government personnel. Debit this account for payment of

pension benefits.

140

Account Title

Account Number

Normal Balance

Description

Leave Benefits Payable

20601020

Credit

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

Account Number

Normal Balance

Description

Retirement Gratuity Payable

20601030

Credit

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

Account Number

Normal Balance

Description

Provision for Product Warranty

20601040

Credit

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

Account Number

Normal Balance

Description

Provision for Environmental Damages

20601050

Credit

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

Account Number

Normal Balance

Description

Other Provisions

20601990

Credit

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

Account Number

Normal Balance

Description

Currency Issued

20701010

Credit

This account is used to recognize liability for Philippine currency

notes and coins issued by the BSP Cash Department.

141

08 Deposit Liabilities

01 Deposit Liabilities

Account Title

Account Number

Normal Balance

Description

Foreign Currency Deposits

20801010

Credit

This account is used to recognize Foreign Currency Department-

Treasurer of the Philippines (FCD-TOP) Special Accounts, FCD-

TOP Time Deposits.

Account Title

Account Number

Normal Balance

Description

International Financial Institutions

20801020

Credit

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

Account Number

Normal Balance

Description

Demand Deposit-Reserves

20801030

Credit

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

Account Number

Normal Balance

Description

Demand Deposit

20801040

Credit

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

Account Number

Normal Balance

Description

Demand Deposit-Others

20801050

Credit

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.

142

Account Title

Account Number

Normal Balance

Description

Savings Deposit

20801060

Credit

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

Account Number

Normal Balance

Description

Fixed-term Deposit

20801070

Credit

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

Account Number

Normal Balance

Description

Withdrawal in Progress

20801080

Credit

This account is used to recognize the withdrawal of cash in the

regions by the regional offices/branches of BSP.

Account Title

Account Number

Normal Balance

Description

Negotiable Order of Withdrawal Accounts

20801090

Credit

This account is used to recognize the interest bearing savings

deposits which are withdrawable by means of Negotiable Orders

of Withdrawal.

Account Title

Account Number

Normal Balance

Description

Time Certificates of Deposit

20801100

Credit

This account is used to recognize the interest-bearing deposits

with specific maturity dates and evidenced by certificates issued

by the bank.

Account Title

Account Number

Normal Balance

Description

Long-term Negotiable Certificates of Deposit

20801110

Credit

This account is used to recognize the interest bearing negotiable

certificates of deposit with a minimum maturity of five years.

Account Title

Account Number

Normal Balance

Description

Special Deposit Account

20801120

Credit

This account is used to recognize the availment of a bank of the

special deposit account facility of the BSP.

143

09 Deferred Tax Liabilities

01 Deferred Tax Liabilities

Account Title

Account Number

Normal Balance

Description

Deferred Tax Liabilities

20901010

Credit

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

Account Number

Normal Balance

Description

Special Time Deposit

29999010

Credit

This account is used to recognize the non-interest bearing

deposits used as security for IGLF purposes.

Account Title

Account Number

Normal Balance

Description

Treasurer/Cashier/Manager's Check

29999020

Credit

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

Account Number

Normal Balance

Description

Payment Order Payable

29999030

Credit

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

Account Number

Normal Balance

Description

Undistributed Collections

29999040

Credit

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

Account Number

Normal Balance

Description

Unclaimed Balances

29999050

Credit

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

144

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

Account Number

Normal Balance

Description

Loans by Regional Banking Units from Foreign Currency

Deposit Unit/Expanded Foreign Currency Deposit Unit

29999060

Credit

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

Account Number

Normal Balance

Description

Liability for Letters of Credit

29999070

Credit

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

Account Number

Normal Balance

Description

Outstanding Acceptances Executed by or for Account of the

Bank

29999080

Credit

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

Account Number

Normal Balance

Description

Dividends Payable

29999090

Credit

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

Account Number

Normal Balance

Description

Servicing Liabilities

29999100

Credit

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.

145

Account Title

Account Number

Normal Balance

Description

Insured Deposit Claims Payable

29999110

Credit

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

Account Number

Normal Balance

Description

Return Premiums Payable

29999120

Credit

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

Account Number

Normal Balance

Description

No Claim Bonus Payable

29999130

Credit

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

Account Number

Normal Balance

Description

Other Payables

29999990

Credit

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

Account Number

Normal Balance

Description

Accumulated Surplus/(Deficit)

30101010

Credit (Debit)

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.

146

Account Title

Account Number

Normal Balance

Description

Government Equity

30101020

Credit (Debit)

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

Account Number

Normal Balance

Description

Contributed Capital

30101030

Credit (Debit)

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

Account Number

Normal Balance

Description

Revaluation Surplus

30201010

Credit (Debit)

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

Account Number

Normal Balance

Description

Revenue/Income and Expense Summary

30301020

Credit (Debit)

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

Account Number

Normal Balance

Description

Equity in Joint Venture

30401010

Credit

This account is used to recognize equity shareholding in a joint

venture.

05 Gains/Losses

147

06 Equity in Associates/Affiliates

01 Equity in Associates/Affiliates

Account Title

Account Number

Normal Balance

Description

Equity in Associates/Affiliates

30601010

Credit

This account is used to recognize the equity shareholding in

associates/affiliates.

07 Retained Earnings/(Deficit)

01 Retained Earnings/(Deficit)

Account Title

Account Number

Normal Balance

Description

Retained Earnings/(Deficit)

30701010

Credit

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

Account Number

Normal Balance

Description

Share Capital

30801010

Credit

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

Account Number

Normal Balance

Description

Share Premium

30801020

Credit

This account is used to recognize the amount paid for shares in

excess of par or stated value.

Account Title

Account Number

Normal Balance

Description

Subscribed Share Capital

30801030

Credit

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.

148

Account Title

Account Number

Normal Balance

Description

Treasury Shares

30801040

Credit

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

Account Number

Normal Balance

Description

Stock Dividend Distributable

30801050

Credit

This account is used to recognize stock dividends declared but

not yet issued. Credit this account upon issuance of the stock

dividends.

Account Title

Account Number

Normal Balance

Description

Equity Component of Compound Financial Instruments

30801060

Credit

This account is used to recognize the amount allocated, net of

income tax effects, for the equity portion of compound financial

instruments.

Account Title

Account Number

Normal Balance

Description

Minority Interests in Subsidiaries

30801070

Credit

This account is used to recognize equity of the minority

shareholders in a company's subsidiaries.

Account Title

Account Number

Normal Balance

Description

Other Equity Instruments

30801990

Credit

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

Account Number

Normal Balance

Description

Cumulative Translation Adjustment

30901010

Credit

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.

149

10 Cumulative Changes in Fair Value

01 Cumulative Changes in Fair Value

Account Title

Account Number

Normal Balance

Description

Cumulative Changes in Fair Value of Investments

31001010

Credit (Debit)

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

4 R E V E N U E

4 Revenue

01 Tax Revenue

01 Tax Revenue-Individual and Corporation

Account Title

Account Number

Normal Balance

Description

Travel Tax

40101030

Credit

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

Account Number

Normal Balance

Description

Permit Fees

40201010

Credit

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

Account Number

Normal Balance

Description

Registration Fees

40201020

Credit

This account is used to recognize the fees collected for

registration of property, deeds, individuals and associations. This


Summary account.

150

Account Title

Account Number

Normal Balance

Description

Registration Plates, Tags and Stickers Fees

40201030

Credit

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

Account Number

Normal Balance

Description

Clearance and Certification Fees

40201040

Credit

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

Account Number

Normal Balance

Description

Franchising Fees

40201050

Credit

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

Account Number

Normal Balance

Description

Licensing Fees

40201060

Credit


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

Account Number

Normal Balance

Description

Supervision and Regulation Enforcement Fees

40201070

Credit


for supervision and enforcement of laws and regulations. This


Summary account.

Account Title

Account Number

Normal Balance

Description

Spectrum Usage Fees

40201080

Credit

This account is used to recognize the fees collected for use,

allocation and assignment of radio frequency wave lengths. This


Summary account.

151

Account Title

Account Number

Normal Balance

Description

Legal Fees

40201090

Credit

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

Account Number

Normal Balance

Description

Inspection Fees

40201100

Credit

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

Account Number

Normal Balance

Description

Verification and Authentication Fees

40201110

Credit

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

Account Number

Normal Balance

Description

Passport, Visa and Application Fees

40201120

Credit


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

Account Number

Normal Balance

Description

Processing Fees

40201130

Credit


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


152

Account Title

Account Number

Normal Balance

Description

Fines and Penalties-Service Income

40201140

Credit


processing of documents for fines and penalties charged to

service income. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Mail Services Revenue

40201150

Credit

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

Account Number

Normal Balance

Description

Discounts on Mailing Services

40201151

Debit

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

Account Number

Normal Balance

Description

Postal Payment Service Revenue

40201160

Credit

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

153

Account Title

Account Number

Normal Balance

Description

Fees and Commissions Income

40201170

Credit

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

Account Number

Normal Balance

Description

Consultancy Fees

40201180

Credit

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

Account Number

Normal Balance

Description

Participation Fees

40201190

Credit

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

Account Number

Normal Balance

Description

Research Fees

40201200

Credit

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

Account Number

Normal Balance

Description

Accreditation Fees

40201210

Credit

This account is used to recognize the accreditation fees charged

by PRA on retirement facilities and/or establishments. This


Summary account.

154

Account Title

Account Number

Normal Balance

Description

Cancellation Fees

40201220

Credit

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

Account Number

Normal Balance

Description

Other Service Income

40201990

Credit

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

Account Number

Normal Balance

Description

School Fees

40202010

Credit

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

Account Number

Normal Balance

Description

Affiliation Fees

40202020

Credit

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

Account Number

Normal Balance

Description

Examination Fees

40202030

Credit

This account is used to recognize the fees imposed for

administering examinations such as licensure, trade, and the like.


Summary account.

Account Title

Account Number

Normal Balance

Description

Seminar/Training Fees

40202040

Credit

This account is used to recognize the fees collected or billed for

attendance in short course trainings and seminars/conventions/

155

workshops. This account shall be closed to the Revenue/Income


Account Title

Account Number

Normal Balance

Description

Rent/Lease Income

40202050

Credit

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

Account Number

Normal Balance

Description

Communication Network Fees

40202060

Credit

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

Account Number

Normal Balance

Description

Transportation System Fees

40202070

Credit

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

Account Number

Normal Balance

Description

Road Network Fees

40202080

Credit

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

Account Number

Normal Balance

Description

Waterworks System Fees

40202090

Credit

This account is used to recognize the income from the operation

of waterworks system, such as water connection fees, water

156

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

Account Number

Normal Balance

Description

Power Supply System Fees

40202100

Credit

This account is used to recognize the income earned from power

generation, transmission and distribution. This account shall be


Account Title

Account Number

Normal Balance

Description

Seaport System Fees

40202110

Credit

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

Account Number

Normal Balance

Description

Landing and Parking Fees

40202120

Credit

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

Account Number

Normal Balance

Description

Income from Hostels/Dormitories and Other Like Facilities

40202130

Credit

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


157

Account Title

Account Number

Normal Balance

Description

Slaughterhouse Operation

40202140

Credit

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

Account Number

Normal Balance

Description

Income from Printing and Publication

40202150

Credit

This account is used to recognize the income from sale of printed

forms, materials or other publications. This account shall be


Account Title

Account Number

Normal Balance

Description

Sales Revenue

40202160

Credit

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

Account Number

Normal Balance

Description

Sales Discounts

40202161

Debit

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

Account Number

Normal Balance

Description

Hospital Fees

40202170

Credit

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

Account Number

Normal Balance

Description

Hospital Discounts, Allowances and Free Services

40202171

Debit

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.

158

Account Title

Account Number

Normal Balance

Description

Guarantee Income

40202180

Credit

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

Account Number

Normal Balance

Description

Fidelity Insurance Income

40202190

Credit

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

Account Number

Normal Balance

Description

Dividend Income

40202200

Credit

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

Account Number

Normal Balance

Description

Interest Income

40202210

Credit

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

159

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

Account Number

Normal Balance

Description

Share in the Profit/Revenue of Joint Venture

40202220

Credit

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

Account Number

Normal Balance

Description

Fines and Penalties-Business Income

40202230

Credit

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

Account Number

Normal Balance

Description

Insurance/Reinsurance Premium

40202250

Credit

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

Account Number

Normal Balance

Description

Insurance/Reinsurance Premium Discount

40202251

Debit

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

Account Number

Normal Balance

Description

Returns and Cancellations of Insurance/Reinsurance Premiums

40202252

Debit

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


160

Account Title

Account Number

Normal Balance

Description

Insurance/Reinsurance Premium Reserves

40202253

Debit

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

Account Number

Normal Balance

Description

Income from Acquired/Foreclosed Assets

40202260

Credit

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

Account Number

Normal Balance

Description

Members' Contribution

40202270

Credit

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

Account Number

Normal Balance

Description

Share in the Profit/Revenue of Associates/Affiliates

40202280

Credit

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

Account Number

Normal Balance

Description

Demurrage Revenue

40202290

Credit

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

Account Number

Normal Balance

Description

Income from Gaming Operations

40202300

Credit

This account is used to recognize the gross sales from the major

game operations of the Philippine Charity Sweepstakes Office

161

(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

Account Number

Normal Balance

Description

Unclaimed Prizes

40202310

Credit

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

Account Number

Normal Balance

Description

Royalty Fees

40202320

Credit

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

Account Number

Normal Balance

Description

Assessment Income

40202330

Credit

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

Account Number

Normal Balance

Description

Management Fees

40202340

Credit

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

Account Number

Normal Balance

Description

Visitorial Fees

40202350

Credit

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

162


Account Title

Account Number

Normal Balance

Description

Admission Fees

40202360

Credit

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

Account Number

Normal Balance

Description

Annual Fees

40202370

Credit

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

Account Number

Normal Balance

Description

Other Business Income

40202990

Credit

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

Account Number

Normal Balance

Description

Subsidy from National Government

40301010

Credit

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

Account Number

Normal Balance

Description

Subsidy from Other National Government Agencies

40301020

Credit

This account is used to recognize financial assistance received in

cash or in kind from other national government entities. This


Summary account.

163

Account Title

Account Number

Normal Balance

Description

Assistance from Local Government Units

40301030

Credit

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

Account Number

Normal Balance

Description

Assistance from Government Corporations

40301040

Credit


transferred from government corporations. This account shall be


Account Title

Account Number

Normal Balance

Description

Subsidy from Other Funds

40301050

Credit


transferred from other funds. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Subsidy from Central Office

40301060

Credit

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

Account Number

Normal Balance

Description

Subsidy from Regional Office/Staff Bureau

40301070

Credit

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

Account Number

Normal Balance

Description

Share from National Wealth

40401010

Credit

This account is used to recognize share of government entities

from the utilization/development of the national wealth. This


Summary account.

164

Account Title

Account Number

Normal Balance

Description

Share from PAGCOR/PCSO

40401020

Credit

This account is used to recognize share of government entities

from PAGCOR and PCSO. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Share from Earnings of Government Corporations

40401030

Credit

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

Account Number

Normal Balance

Description

Income from Grants and Donations in Cash

40402010

Credit

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

Account Number

Normal Balance

Description

Income from Grants and Donations in Kind

40402020

Credit

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

Account Number

Normal Balance

Description

Gain on Foreign Exchange (FOREX)

40501010

Credit

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


165

Account Title

Account Number

Normal Balance

Description

Gain on Sale/Redemption/Transfer of Investments

40501020

Credit

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

Account Number

Normal Balance

Description

Gain on Sale of Investment Property

40501030

Credit

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

Account Number

Normal Balance

Description

Gain on Sale of Property, Plant and Equipment

40501040

Credit

This account is used to recognize gains on sale of government

PPEs including bank premises. This account shall be closed to


Account Title

Account Number

Normal Balance

Description

Gain on Initial Recognition of Biological Assets

40501050

Credit

This account is used to recognize gains on the initial recognition

of biological assets. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Gain on Sale of Biological Assets

40501060

Credit

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

Account Number

Normal Balance

Description

Gain from Changes in Fair Value Less Cost to Sell of Biological

Assets Due to Physical Change

40501070

Credit

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.

166

Account Title

Account Number

Normal Balance

Description

Gain from Changes in Fair Value Less Cost to Sell of Biological

Assets Due to Price Change

40501080

Credit

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

Account Number

Normal Balance

Description

Gain on Sale of Agricultural Produce

40501090

Credit

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

Account Number

Normal Balance

Description

Gain on Sale of Intangible Assets

40501100

Credit

This account is used to recognize gains on the sale of intangible



Account Title

Account Number

Normal Balance

Description

Gain from Changes in Fair Value of Financial Instruments

40501110

Credit

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

Account Number

Normal Balance

Description

Gain on Initial Recognition of Agricultural Produce

40501120

Credit

This account is used to recognize gains on the initial recognition

of agricultural produce. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Gain on Sale/Redemption/Transfer of Financial Liabilities

40501130

Credit

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


167

Account Title

Account Number

Normal Balance

Description

Gain from Fair Value Adjustment in Hedge Accounting

40501140

Credit

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

Account Number

Normal Balance

Description

Gain on Securitization

40501150

Credit

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

Account Number

Normal Balance

Description

Gain from Changes in Fair Value of Investment Property

40501160

Credit

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

Account Number

Normal Balance

Description

Other Gains

40501990

Credit

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

Account Number

Normal Balance

Description

Sale of Garnished/Confiscated/Abandoned/Seized Goods and

Property

40601010

Credit

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.

168

Account Title

Account Number

Normal Balance

Description

Sale of Unserviceable Property

40601020

Credit

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

Account Number

Normal Balance

Description

Reversal of Impairment Loss

40602010

Credit

This account is used to recognize the reversal of impairment loss.


Summary account.

03 Miscellaneous Income

Account Title

Account Number

Normal Balance

Description

Proceeds from Insurance/Indemnities

40603010

Credit

This account is used to recognize the proceeds from insurance

claims and/or indemnities. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Miscellaneous Income

40603990

Credit

This account is used to recognize income earned which is not

classified under the specific income accounts. This account shall


5 E X P E N S E S

5 Expenses

01 Personnel Services

01 Salaries and Wages

Account Title

Account Number

Normal Balance

Description

Salaries and Wages-Regular

50101010

Debit

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


169

Account Title

Account Number

Normal Balance

Description

Salaries and Wages-Casual/Contractual

50101020

Debit

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

Account Number

Normal Balance

Description

Personnel Economic Relief Allowance (PERA)

50102010

Debit

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

Account Number

Normal Balance

Description

Representation Allowance (RA)

50102020

Debit

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

Account Number

Normal Balance

Description

Transportation Allowance (TA)

50102030

Debit

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

Account Number

Normal Balance

Description

Clothing/Uniform Allowance

50102040

Debit

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.


170

Summary account.

Account Title

Account Number

Normal Balance

Description

Subsistence Allowance

50102050

Debit


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

Account Number

Normal Balance

Description

Laundry Allowance

50102060

Debit


authorized government officials/employees to cover the cost of

laundry of uniform of employees who are on official business.


Summary account.

Account Title

Account Number

Normal Balance

Description

Quarters Allowance

50102070

Debit


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

Account Number

Normal Balance

Description

Productivity Incentive Allowance

50102080

Debit

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

Account Number

Normal Balance

Description

Overseas Allowance

50102090

Debit

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


171

Account Title

Account Number

Normal Balance

Description

Honoraria

50102100

Debit

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

Account Number

Normal Balance

Description

Hazard Pay

50102110

Debit

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

Account Number

Normal Balance

Description

Longevity Pay

50102120

Debit

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

Account Number

Normal Balance

Description

Overtime and Night Pay

50102130

Debit

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

Account Number

Normal Balance

Description

Year End Bonus

50102140

Debit

This account is used to recognize the amount granted annually to

government officials and employees as authorized by law. This


Summary account.

172

Account Title

Account Number

Normal Balance

Description

Cash Gift

50102150

Debit

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

Account Number

Normal Balance

Description

Other Bonuses and Allowances

50102990

Debit

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

Account Number

Normal Balance

Description

Retirement and Life Insurance Premiums

50103010

Debit

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.

173

Account Title

Account Number

Normal Balance

Description

Pag-IBIG Contributions

50103020

Debit

This account is used to recognize the government's share in

premium contributions to the Home Development Mutual Fund.


Summary account.

Account Title

Account Number

Normal Balance

Description

PhilHealth Contributions

50103030

Debit


premium contributions to the Philippine Health Insurance

Corporation. This account shall be closed to the Revenue/Income


Account Title

Account Number

Normal Balance

Description

Employees Compensation Insurance Premiums

50103040

Debit


premium contributions to the Employees' Compensation

Commission (ECC). This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Provident/Welfare Fund Contributions

50103050

Debit

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

Account Number

Normal Balance

Description

Pension Benefits

50104010

Debit

This account is used to recognize the amount of pension to

government employees occupying regular plantilla positions.


Summary account.

Account Title

Account Number

Normal Balance

Description

Retirement Gratuity

50104020

Debit

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

174


Account Title

Account Number

Normal Balance

Description

Terminal Leave Benefits

50104030

Debit

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

Account Number

Normal Balance

Description

Other Personnel Benefits

50104990

Debit

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

Account Number

Normal Balance

Description

Traveling Expenses-Local

50201010

Debit

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

Account Number

Normal Balance

Description

Traveling Expenses-Foreign

50201020

Debit

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

Account Number

Normal Balance

Description

Training Expenses

50202010

Debit

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

175

all other training related expenses. This account shall be closed


Account Title

Account Number

Normal Balance

Description

Scholarship Grants/Expenses

50202020

Debit

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

Account Number

Normal Balance

Description

Office Supplies Expenses

50203010

Debit

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

Account Number

Normal Balance

Description

Accountable Forms Expenses

50203020

Debit

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

Account Number

Normal Balance

Description

Non-Accountable Forms Expenses

50203030

Debit

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

Account Number

Normal Balance

Description

Animal/Zoological Supplies Expenses

50203040

Debit

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

176

gardens. This also includes supplies issued for zoological

researches, preservations, breeding and other purposes. This


Summary account.

Account Title

Account Number

Normal Balance

Description

Food Supplies Expenses

50203050

Debit

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

Account Number

Normal Balance

Description

Welfare Goods Expenses

50203060

Debit

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

Account Number

Normal Balance

Description

Drugs and Medicines Expenses

50203070

Debit

This account is used to recognize the costs of drugs and

medicines issued to end-users for government operations. This


Summary account.

Account Title

Account Number

Normal Balance

Description

Medical, Dental and Laboratory Supplies Expenses

50203080

Debit

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

Account Number

Normal Balance

Description

Fuel, Oil and Lubricants Expenses

50203090

Debit

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


177

Account Title

Account Number

Normal Balance

Description

Agricultural and Marine Supplies Expenses

50203100

Debit


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

Account Number

Normal Balance

Description

Textbooks and Instructional Materials Expenses

50203110

Debit

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

Account Number

Normal Balance

Description

Military, Police and Traffic Supplies Expenses

50203120

Debit

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

Account Number

Normal Balance

Description

Chemical and Filtering Supplies Expenses

50203130

Debit

This account is used to recognize the cost of chemical, water

treatment, filtering supplies and the like used in government



Account Title

Account Number

Normal Balance

Description

Linens and Beddings Expenses

50203140

Debit

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

Account Number

Normal Balance

Description

Semi-Expendable Machinery and Equipment Expenses

50203210

Debit

This account is used to recognize the cost of semi-expendable

machinery and equipment used in operation. This account shall

178


Account Title

Account Number

Normal Balance

Description

Semi-Expendable Furniture, Fixtures and Books Expenses

50203220

Debit

This account is used to recognize the cost of semi-expendable

furniture, fixtures and books used in operation. This account


account.

Account Title

Account Number

Normal Balance

Description

Other Supplies and Materials Expenses

50203990

Debit

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

Account Number

Normal Balance

Description

Water Expenses

50204010

Debit

This account is used to recognize the cost of water consumed in

government operations/projects. This account shall be closed to


Account Title

Account Number

Normal Balance

Description

Electricity Expenses

50204020

Debit

This account is used to recognize the cost of electricity consumed

in government operations/projects. This account shall be closed


Account Title

Account Number

Normal Balance

Description

Gas/Heating Expenses

50204030

Debit

This account is used to recognize the gas/heating costs incurred

by foreign-based government entities during winter months. This


Summary account.

Account Title

Account Number

Normal Balance

Description

Other Utility Expenses

50204990

Debit

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


179

05 Communication Expenses

Account Title

Account Number

Normal Balance

Description

Postage and Courier Services

50205010

Debit

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

Account Number

Normal Balance

Description

Telephone Expenses

50205020

Debit

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

Account Number

Normal Balance

Description

Internet Subscription Expenses

50205030

Debit

This account is used to recognize the cost of using internet

services in government operations. This account shall be closed


Account Title

Account Number

Normal Balance

Description

Cable, Satellite, Telegraph and Radio Expenses

50205040

Debit

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

Account Number

Normal Balance

Description

Awards/Rewards Expenses

50206010

Debit

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


180

Account Title

Account Number

Normal Balance

Description

Prizes

50206020

Debit

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

Account Number

Normal Balance

Description

Indemnities

50206030

Debit

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

Account Number

Normal Balance

Description

Survey Expenses

50207010

Debit

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

Account Number

Normal Balance

Description

Research, Exploration and Development Expenses

50207020

Debit

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

Account Number

Normal Balance

Description

Demolition and Relocation Expenses

50208010

Debit

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

Account Number

Normal Balance

Description

Desilting, Drilling and Dredging Expenses

50208020

Debit

This account is used to recognize the costs incurred in removing

large accumulation of decomposed litters and other organic

181

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

Account Number

Normal Balance

Description

Generation, Transmission and Distribution Expenses

50209010

Debit

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

Account Number

Normal Balance

Description

Confidential Expenses

50210010

Debit

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

Account Number

Normal Balance

Description

Intelligence Expenses

50210020

Debit


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

Account Number

Normal Balance

Description

Extraordinary and Miscellaneous Expenses

50210030

Debit


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

182

11 Professional Services

Account Title

Account Number

Normal Balance

Description

Legal Services

50211010

Debit

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

Account Number

Normal Balance

Description

Auditing Services

50211020

Debit

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

Account Number

Normal Balance

Description

Consultancy Services

50211030

Debit

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

Account Number

Normal Balance

Description

Other Professional Services

50211990

Debit

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

Account Number

Normal Balance

Description

Environment/Sanitary Services

50212010

Debit

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.

183

Account Title

Account Number

Normal Balance

Description

Janitorial Services

50212020

Debit

This account is used to recognize the cost of janitorial services

contracted by the government. This account shall be closed to


Account Title

Account Number

Normal Balance

Description

Security Services

50212030

Debit

This account is used to recognize the cost of security services

contracted by the government. This account shall be closed to


Account Title

Account Number

Normal Balance

Description

Other General Services

50212990

Debit

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

Account Number

Normal Balance

Description

Repairs and Maintenance-Investment Property

50213010

Debit

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

Account Number

Normal Balance

Description

Repairs and Maintenance-Land Improvements

50213020

Debit


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

184

Account Title

Account Number

Normal Balance

Description

Repairs and Maintenance-Infrastructure Assets

50213030

Debit


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

Account Number

Normal Balance

Description

Repairs and Maintenance-Buildings and Other Structures

50213040

Debit


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

Account Number

Normal Balance

Description

Repairs and Maintenance-Machinery and Equipment

50213050

Debit


maintenance on machinery; office equipment; information and

185

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

Account Number

Normal Balance

Description

Repairs and Maintenance-Transportation Equipment

50213060

Debit


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

Account Number

Normal Balance

Description

Repairs and Maintenance-Furniture and Fixtures

50213070

Debit


maintenance on furniture and fixtures. This account shall be


186

Account Title

Account Number

Normal Balance

Description

Repairs and Maintenance-Leased Assets

50213080

Debit


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

Account Number

Normal Balance

Description

Repairs and Maintenance-Leased Assets Improvements

50213090

Debit


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

Account Number

Normal Balance

Description

Restoration and Maintenance-Heritage Assets

50213100

Debit

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

Account Number

Normal Balance

Description

Repairs and Maintenance-Service Concession Assets

50213110

Debit

This account is used to recognize the cost of restoration and

maintenance of service concession assets. This account shall be


Subsidiary Ledgers:


187








09 – Parks, Plaza and Monuments






99 – Other Service Concession Assets

Account Title

Account Number

Normal Balance

Description

Repairs and Maintenance-Exploration and Evaluation Assets

50213120

Debit


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

Account Number

Normal Balance

Description

Repairs and Maintenance-Semi-Expendable Machinery and

Equipment

50213210

Debit


maintenance of semi-expendable machinery and equipment. This


Summary account.

Subsidiary Ledgers:

01 – Machinery


03 – Information and Communications Technology










188





Account Title

Account Number

Normal Balance

Description

Repairs and Maintenance-Semi-Expendable Furniture, Fixtures

and Books

50213220

Debit


maintenance of semi-expendable furniture, fixtures and books.


Summary account.

Subsidiary Ledgers:


02 – Books

Account Title

Account Number

Normal Balance

Description

Repairs and Maintenance-Other Property, Plant and Equipment

50213990

Debit


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

Account Number

Normal Balance

Description

Financial Assistance to NGAs

50214020

Debit

This account is used by government corporations to recognize

financial assistance to NGAs through transfer of funds or assets.


Summary account.

Account Title

Account Number

Normal Balance

Description

Financial Assistance to Local Government Units

50214030

Debit

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


189

Account Title

Account Number

Normal Balance

Description

Financial Assistance to NGOs/POs

50214050

Debit

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

Account Number

Normal Balance

Description

Subsidy to Regional Offices/Staff Bureaus

50214070

Debit


transferred by the Central Office to the Regional Offices/Staff

Bureaus of a government corporation. This account shall be


Account Title

Account Number

Normal Balance

Description

Subsidy to Operating Units

50214080

Debit


transferred by the Central Office/Regional Offices/Staff Bureaus

to the Operating Units of a government corporation. This


Summary account.

Account Title

Account Number

Normal Balance

Description

Subsidy to Other Funds

50214090

Debit


transferred to other funds. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Financial Assistance to Government Corporations

50214100

Debit

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

Account Number

Normal Balance

Description

Contribution to AFP Modernization

50214110

Debit

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.

190


Summary account.

Account Title

Account Number

Normal Balance

Description

Financial Assistance/Subsidy-Others

50214990

Debit

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

Account Number

Normal Balance

Description

Taxes, Duties and Licenses

50215010

Debit

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

Account Number

Normal Balance

Description

Fidelity Bond Premiums

50215020

Debit

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

Account Number

Normal Balance

Description

Insurance Expenses

50215030

Debit

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

Account Number

Normal Balance

Description

Income Tax Expenses

50215040

Debit

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.

191

16 Labor and Wages

Account Title

Account Number

Normal Balance

Description

Labor and Wages

50216010

Debit

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

Account Number

Normal Balance

Description

Members’ Benefits

50217010

Debit

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

Account Number

Normal Balance

Description

Advertising, Promotional and Marketing Expenses

50299010

Debit

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

Account Number

Normal Balance

Description

Printing and Publication Expenses

50299020

Debit

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


192

Account Title

Account Number

Normal Balance

Description

Representation Expenses

50299030

Debit

This account is used to recognize the expenses incurred for

official meetings/conferences and other official functions. This


Summary account.

Account Title

Account Number

Normal Balance

Description

Transportation and Delivery Expenses

50299040

Debit

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

Account Number

Normal Balance

Description

Rent/Lease Expenses

50299050

Debit

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

Account Number

Normal Balance

Description

Membership Dues and Contributions to Organizations

50299060

Debit

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

Account Number

Normal Balance

Description

Subscription Expenses

50299070

Debit

This account is used to recognize the cost of subscriptions to

newspapers, libraries and other reading materials. This account


account.

Account Title

Account Number

Normal Balance

Description

Donations

50299080

Debit

This account is used to recognize the amount of donations to

other levels of government and individuals and institutions. This

193


Summary account.

Account Title

Account Number

Normal Balance

Description

Litigation/Acquired Assets Expenses

50299090

Debit

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

Account Number

Normal Balance

Description

International Mail Exchange Expenses

50299110

Debit

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

Account Number

Normal Balance

Description

Directors and Committee Members' Fees

50299120

Debit

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

Account Number

Normal Balance

Description

Lottery Draws Expenses

50299130

Debit

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

Account Number

Normal Balance

Description

Documentary Stamps Expenses

50299140

Debit

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


194

Account Title

Account Number

Normal Balance

Description

Fees and Commission Expenses

50299150

Debit

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

Account Number

Normal Balance

Description

Dividend Expenses

50299160

Debit

This refers to the amount of dividends payable by government

corporations to the National Government and/or its stockholders.


Summary account.

Account Title

Account Number

Normal Balance

Description

Underwriting Expenses

50299170

Debit

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

Account Number

Normal Balance

Description

Major Events and Conventions Expenses

50299180

Debit

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

Account Number

Normal Balance

Description

Crop/Non-Crop Insurance Benefits

50299190

Debit

This account is used to recognize the amount of actual

indemnities paid or payable by PCIC for insurance claims. This

195

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

Account Number

Normal Balance

Description

Deposit Claims Pay-out Expenses

50299200

Debit

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

Account Number

Normal Balance

Description

Loss Recoveries Ceded

50299210

Debit

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

Account Number

Normal Balance

Description

Loss Adjustment Expenses

50299220

Debit

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

Account Number

Normal Balance

Description

Other Maintenance and Operating Expenses

50299990

Debit

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


196

03 Financial Expenses

01 Financial Expenses

Account Title

Account Number

Normal Balance

Description

Management Supervision/Trusteeship Fees

50301010

Debit

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

Account Number

Normal Balance

Description

Interest Expenses

50301020

Debit

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

Account Number

Normal Balance

Description

Guarantee Fees

50301030

Debit

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


197

Account Title

Account Number

Normal Balance

Description

Bank Charges

50301040

Debit

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

Account Number

Normal Balance

Description

Commitment Fees

50301050

Debit

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

Account Number

Normal Balance

Description

Other Financial Charges

50301990

Debit

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

Account Number

Normal Balance

Description

Direct Labor

50401010

Debit

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

Account Number

Normal Balance

Description

Manufacturing Overhead

50401020

Debit


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.

http://www.businessdictionary.com/definition/payroll.html

http://www.businessdictionary.com/definition/manufacture.html

http://www.businessdictionary.com/definition/product.html

http://www.businessdictionary.com/definition/work-order.html

http://www.businessdictionary.com/definition/work-order.html

198

Account Title

Account Number

Normal Balance

Description

Direct Materials

50401030

Debit

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

Account Number

Normal Balance

Description

Cost of Sales

50402010

Debit

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

Account Number

Normal Balance

Description

Depreciation-Investment Property

50501010

Debit

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

Account Number

Normal Balance

Description

Depreciation-Land Improvements

50501020

Debit


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

Account Number

Normal Balance

Description

Depreciation-Infrastructure Assets

50501030

Debit


for the wear and tear of road networks; flood control systems;

199

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

Account Number

Normal Balance

Description

Depreciation-Buildings and Other Structures

50501040

Debit


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

Account Number

Normal Balance

Description

Depreciation-Machinery and Equipment

50501050

Debit


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

200

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

Account Number

Normal Balance

Description

Depreciation-Transportation Equipment

50501060

Debit


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

Account Number

Normal Balance

Description

Depreciation-Furniture, Fixtures and Books

50501070

Debit


for the wear and tear of furniture and fixtures, and books in



Summary account.

201

Subsidiary Ledgers:


02 – Books

Account Title

Account Number

Normal Balance

Description

Depreciation-Leased Assets

50501080

Debit


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

Account Number

Normal Balance

Description

Depreciation-Leased Assets Improvements

50501090

Debit


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

Account Number

Normal Balance

Description

Depreciation-Heritage Assets

50501100

Debit


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

202

Account Title

Account Number

Normal Balance

Description

Depreciation-Service Concession Assets

50501110

Debit


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

Account Number

Normal Balance

Description

Depreciation-Exploration and Evaluation Assets

50501120

Debit


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

203

Account Title

Account Number

Normal Balance

Description

Depreciation-Biological Assets

50501130

Debit


for the wear and tear of biological assets in accordance with the

prescribed policy on depreciation. This account shall be closed to


Account Title

Account Number

Normal Balance

Description

Depreciation-Other Property, Plant and Equipment

50501990

Debit


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

Account Number

Normal Balance

Description

Amortization-Intangible Assets

50502010

Debit


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

Account Number

Normal Balance

Description

Amortization-Service Concession-Intangible Assets

50502020

Credit


of service concession-intangible assets. This account shall be


204

03 Impairment Loss

Account Title

Account Number

Normal Balance

Description

Impairment Loss-Financial Assets Held to Maturity

50503010

Debit

This account is used to recognize the loss incurred due to

impairment of financial assets held to maturity. This account


account.

Account Title

Account Number

Normal Balance

Description

Impairment Loss-Loans and Receivables

50503020

Debit


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

Account Number

Normal Balance

Description

Impairment Loss-Lease Receivables

50503030

Debit


impairment of lease receivables. This account shall be closed to


Account Title

Account Number

Normal Balance

Description

Impairment Loss-Investments in Government Corporations

50503040

Debit

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

Account Number

Normal Balance

Description

Impairment Loss-Investments in Joint Venture

50503050

Debit


down investments in joint venture below cost to fair value less

costs to sell. This account shall be closed to the


205

Account Title

Account Number

Normal Balance

Description

Impairment Loss-Other Receivables

50503060

Debit


impairment of other receivables. This account shall be closed to


Account Title

Account Number

Normal Balance

Description

Impairment Loss-Inventories

50503070

Debit


down inventory value below cost to its net realizable value. This


Summary account.

Account Title

Account Number

Normal Balance

Description

Impairment Loss-Investment Property

50503080

Debit


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

Account Number

Normal Balance

Description

Impairment Loss-Property, Plant and Equipment

50503090

Debit


impairment of property, plant and equipment where carrying

amount is greater than depreciated replacement cost. This


Summary account.

Account Title

Account Number

Normal Balance

Description

Impairment Loss-Biological Assets

50503100

Debit


impairment of biological assets where carrying amount is greater

than depreciated replacement cost. This account shall be closed


Account Title

Account Number

Normal Balance

Description

Impairment Loss-Intangible Assets

50503110

Debit


impairment of intangible asset where carrying amount is greater

206

than recoverable amount/recoverable service amount. This


Summary account.

Subsidiary Ledgers:



03 – Websites

04 – Goodwill


Account Title

Account Number

Normal Balance

Description

Impairment Loss-Investments in Associates/Affiliates

50503120

Debit


down investments in associates/affiliates below cost to fair value

less costs to sell. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Impairment Loss-Domestic Investments

50503130

Debit


down domestic investments below cost to fair value less costs to

sell. This account shall be closed to the Revenue/Income and


Account Title

Account Number

Normal Balance

Description

Impairment Loss-Investments in Stocks

50503140

Debit


down investments in stocks below cost to fair value less costs to



Account Title

Account Number

Normal Balance

Description

Impairment Loss-Investments in Subsidiaries

50503150

Debit


down investments in subsidiaries below cost to fair value less

costs to sell. This account shall be closed to the Revenue/Income


Account Title

Account Number

Normal Balance

Description

Impairment Loss-Non-Current Assets Held for Sale

50503160

Debit


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


207

Account Title

Account Number

Normal Balance

Description

Impairment Loss-Service Concession-Intangible Assets

50503170

Debit


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

Account Number

Normal Balance

Description

Impairment Loss-Other Investments

50503180

Debit


down other investments below cost to fair value less costs to sell.


Summary account.

Account Title

Account Number

Normal Balance

Description

Impairment Loss-Other Assets

50503990

Debit


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

Account Number

Normal Balance

Description

Loss on Foreign Exchange (FOREX)

50504010

Debit

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

Account Number

Normal Balance

Description

Loss on Sale/Redemption/Transfer of Investments

50504020

Debit

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.


208

Summary account.

Account Title

Account Number

Normal Balance

Description

Loss on Sale of Investment Property

50504030

Debit

This account is used to recognize the amount of loss on sale of

investment property. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Loss on Sale of Property, Plant and Equipment

50504040

Debit


property, plant and equipment. This account shall be closed to


Account Title

Account Number

Normal Balance

Description

Loss on Sale of Biological Assets

50504050

Debit


biological assets. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Loss on Sale of Agricultural Produce

50504060

Debit


agricultural produce. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Loss on Sale of Intangible Assets

50504070

Debit


intangible assets. This account shall be closed to the


Account Title

Account Number

Normal Balance

Description

Loss on Sale of Assets

50504080

Debit




Account Title

Account Number

Normal Balance

Description

Loss of Assets

50504090

Debit

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

209


Summary account.

Account Title

Account Number

Normal Balance

Description

Loss on Initial Recognition of Biological Assets

50504110

Debit

This account is used to recognize amount of loss incurred upon

initial recognition of biological assets representing the cost to



Account Title

Account Number

Normal Balance

Description

Loss from Changes in Fair Value of Financial Instruments

50504120

Debit

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

Account Number

Normal Balance

Description

Loss from Changes in Fair Value Less Cost to Sell of Biological

Assets Due to Physical Change

50504130

Debit

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

Account Number

Normal Balance

Description

Loss from Changes in Fair Value Less Cost to Sell of Biological

Assets Due to Price Change

50504140

Debit

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

Account Number

Normal Balance

Description

Loss on Sale/Redemption/Transfer of Financial Liabilities

50504150

Debit

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


210

Account Title

Account Number

Normal Balance

Description

Loss on Securitization

50504160

Debit

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

Account Number

Normal Balance

Description

Loss from Fair Value Adjustment in Hedge Accounting

50504170

Debit

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

Account Number

Normal Balance

Description

Loss from Changes in Fair Value of Investment Property

50504180

Debit

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

Account Number

Normal Balance

Description

Loss on Guaranty

50504190

Debit

This refers to losses incurred for guaranteed loans of government

corporations as authorized by law or corporate body. This


Summary account.

Account Title

Account Number

Normal Balance

Description

Share in the Loss of Joint Venture

50504200

Debit

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

Account Number

Normal Balance

Description

Share in the Loss of Associates/Affiliates

50504210

Debit

This account is used to recognize the share in the loss of

associates/affiliates under the equity method of accounting. This


Summary account.

211

Account Title

Account Number

Normal Balance

Description

Other Losses

50504990

Debit

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

Account Number

Normal Balance

Description

Other Discounts

50505010

Debit

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

Account Number

Normal Balance

Description

Rebates

50505020

Debit

This account is used to recognize reduction on the amount of

amortization due to receipt of payment on or before due date.


Summary account.

THE REVISED CHART OF ACCOUNTS For Government … · THE REVISED CHART OF ACCOUNTS For Government...

Documents

Transcript of THE REVISED CHART OF ACCOUNTS For Government … · THE REVISED CHART OF ACCOUNTS For Government...