2008 / Jan
COA CIRCULAR NO. 2008-001 PRESCRIBING A REVISED PHILIPPINE GOVERNMENT CHART OF ACCOUNTS January 29, 2008
[ COA CIRCULAR NO. 2008-001, January 29, 2008 ]
PRESCRIBING A REVISED PHILIPPINE GOVERNMENT CHART OF ACCOUNTS
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
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
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 OtherOperating 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
Chairman