By Darwin Gompad

 It acknowledges the rights of governments

and national standard-setters to establish their
respective accounting standards and guidelines
for financial reporting in their jurisdictions.
 Provides new accounts for the adoption of the
Philippine Public Sector Accounting Standards
(PPSAS) to enhance the accountability and
transparency of the financial reports
 Ensures compatibility of financial information

International Public Sector Accounting Standards


Board (IPSASB) ???????
 COA Circular No. 2013 – 002
dated January 30, 2013
“Adoption of the Revised Chart of Accounts
(RCA) for National Government Agencies (NGA)”
???????
Effective Date: January 1, 2014

 COA Resolution No. 2014 – 003

dated January 24, 2014
“Adoption of the Philippine Public Sector
Accounting Standards
???????(PPSAS)”
 COA Circular No. 2014 – 003
dated April 15, 2014

“Conversion from the Philippine Government Chart of

Accounts under the New Government Accounting
System per COA Circular No. 2004-008 dated
September 20, 2004 as amended, to the Revised
Chart of Accounts for National Government
Agencies”
 COA-DBM-DOF Joint Circular No. 2013 – 1
dated August 6, 2013

“To prescribe the implementing guidelines, rules and

regulations on the use of the UACS”

 COA-DBM-DOF Joint Circular No. 2014 – 1

???????
dated November 7, 2014

“To provide the enhancement of UACS prescribed

under COA-DBM-DOF Joint Circular No. 2013 – 1”
COA Circular No. 2004 – 008 COA Circular No. 2013 – 002
???????
Dated September 20, 2004 Dated January 30, 2013
 ???????
Codes that are assigned 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:

???????
 ???????
Represents classification within the account group

Example:

Assets: Cash and Cash Equivalents, Investments

Liabilities: Financial Liabilities, Inter-Agency Payables
Equity: Government Equity, Revaluation Surplus
Revenue: Tax Revenue, Service and Business Income
Expense: Personnel Services, Maintenance and Other
Operating Expenses
 ???????
Represents classification within the major
account
 ???????
Represents the accounts to be presented in the
detailed financial statements
 ???????
1- 01 -01 - 010

Asset
Cash and Cash Equivalents
Cash on Hand
Cash Collecting Officer
GL Contra-Account
 1???????
- 03 -01 - 011

Asset
Receivables
Loans & Receivable Accounts
Accounts Receivable
Allowance for Impairment-AR
 New accounts were provided for the
implementation of the Philippine Public Sector
Accounting Standards (PPSAS)
 Some accounts were deleted since these
accounts are for use by Local Government
Units (LGUs) or Government Owned and/or
Controlled Corporations (GOCCs), while other
accounts are no longer applicable to National
Government Agencies (NGAs).
 Some accounts were either expanded or
compressed.

For instance, expense accounts for repairs and

maintenance and depreciation of property,
plant and equipment which were previously
presented per asset account were
compressed based on the major account
classification
COA Circular No. 2004 – 008 COA Circular No. 2013 – 002
Dated September 20, 2004 Dated January 30, 2013
COA Circular No. 2004 – 008 COA Circular No. 2013 – 002
Dated September 20, 2004 Dated January 30, 2013
 fin
 2 points
 Sales

1st Qtr 2nd Qtr

3rd Qtr 4th Qtr

???????
COA Chart of Accounts Object
Major ???????
Accounts Group
 ???????
Accrual Method