Coverage
- Applicable to National Government Agencies (NGAs).
- Applicable to Local Government Units (LGUs).
- Applicable to Government-Owned and/or Controlled Corporations (GOCCs), except government banks, Government Service Insurance System (GSIS), and Social Security System (SSS).
Structure and Grouping of Accounts
- Asset accounts: codes 100-399.
- Asset Contra-Accounts: codes 301-362.
- Liability accounts: codes 400-469.
- Liability Contra-Accounts: codes 461-462.
- Equity accounts: codes 470-499.
- Income accounts: codes 500-699, further subdivided into:
- 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, subdivided into:
- Personal Services (701-749).
- Maintenance and Other Operating Expenses (751-989).
- Financial Expenses (751-989).
- Intermediate Accounts: 998-999.
Implementation and Procedures
- All existing account balances must be reclassified to appropriate accounts under the Revised PGCA.
- Use of accounts not provided in the Revised PGCA requires prior approval from the Commission on Audit.
Effectivity
- The circular takes effect fifteen (15) days after publication in two newspapers of general circulation.
Authority
- Issued by the Chairman of the Commission on Audit, Guillermo N. Carague, on January 29, 2008.