(NAR) VOL. 19 NO. 1 / JANUARY - MARCH 2008
This Circular is issued to prescribe the use of a more comprehensive Chart of Accounts to respond to the information needs of various government agencies in implementing the New Government Accounting System (NGAS), thereby superseding COA Circular Nos. 2003-001, 2004-002, and 2004-008 date June 17, 2003, April 29 2004, and September 20, 2004, respectively.
The Revised Philippine Government Chart of Accounts (PCGA) shall be used by National Government Agencies, Local Government Units, and Government Owned and/or Controlled Corporations except government banks, the Government Service Insurance System and the Social Security System.
The account codes, account titles and account descriptions of the PGCA, attached as Annex A
*, are grouped as follows
Accounts | Account Codes |
| |
Assets | 100-399 |
Asset Contra-Accounts | 301-362 |
Liabilities | 400-69 |
Liability Contra Accounts | 461-462 |
Equity | 470-499 |
Income | 500-699 |
Tax Revenue | 501-539 |
Internal Revenue Allotment | 541 |
Fees, Permits and License Income | 551-569 |
Business and Service income | 571-619 |
Gains | 621-629 |
Subsidy Income | 631-639 |
Other Income | 641-659 |
Income Contra Accounts | 661-667 |
Expenses | 700-997 |
Personal Services | 701-749 |
Maintenance and Other Operating Expenses | 751-989 |
Financial Expenses | 751-989 |
Intermediate Accounts | 998-999 |
All account balances shall be reclassified to the appropriate accounts in the revised PGCA.
Accounts other than those provided in the PGCA shall be used only upon prior approval of this Commission:
This Circular shall take effect fifteen (15) days after publication in two newspapers of general circulation.
Adopted: 29 Jan. 2008
(SGD.) GUILLERMO N. CARAGUE
Chairman