CONSOLIDATED NATIONWIDE- ALL FUNDS (CLUSTER 1, 2, 6 & 7)

12 Accumulated Surplus/(Deficit)

As of December 31, 2016

Particulars
(in pesos)
Financial assets 7,955,083,745
Liabilities (24,834,886,597)
Net Financial Assets (16,879,802,852)
Non-financial assets 151,931,533,120
Accumulated surplus (deficit) 135,051,730,268

Changes in Accounting Policy For CY 2016

Revenue 22,971,101
Net Financial Assistance/Subsidy 13,467,782,277
Expenses (243,142,445)
Other Non-Operating Income 150
Loss of Assets (-)
Surplus (deficit) for the year 13,247,610,933
Accumulated surplus (deficit) beginning of year 127,405,965,508
Changes in Accounting Policy -
Adjustment of net revenue recognized directly in net assets/equity (38,481,711)
Prior Period Errors -(59,394,835)
Other Adjustments (991,173,570)

Others
(4,512,796,057)
Accumulated surplus (deficit) , December 31, 2014 135,051,730,268

12.1 Adjustments of Net Revenue recognized directly in net assets:

Closing of Treasury Deposit Account (38,481,711)

TOTAL (38,481,711)

12.2 Prior Period Errors include:

Recognition of prior year income & reclass from income to capitalized expenses 6,205,027
Prior Years Adjustments/ Income and Expenses (65,599,862)
TOTAL (59,394,835)
 12.3 Other Adjustments consists of the following:

Other Adjustment (350,623,030)

Disallowance for Prior Years Expenses/Payments 102,400
Recognition of Property Plant and Equipment from completed contract (640,652,940)
TOTAL (991,173,570)

12.4 Others consist of the following

Other Adjustment 211,698,777

Disallowance for Prior Years Expenses/Payments 141,000
De-recognition of Property Plant and Equipment (4,693,065,575)
Transfer of Equipment/Inventory to RO/DEOs (31,570,259)
TOTAL (4,512,796,057)