Policy, purpose, and supersession
- The Circular requires use of a more comprehensive Chart of Accounts to meet the information needs of government agencies under NGAS.
- COA Circular Nos. 2003-001, 2004-002, and 2004-008 are superseded by COA Circular No. 2008-001.
- Supersession covers the dated predecessor issuances: June 17, 2003, April 29, 2004, and September 20, 2004, respectively.
Coverage: who must use it
- The Revised PCGA must be used by National Government Agencies.
- The Revised PCGA must be used by Local Government Units (LGUs).
- The Revised PCGA must be used by Government Owned and/or Controlled Corporations.
- The Revised PCGA must be used by the covered entities except government banks, the Government Service Insurance System (GSIS), and the Social Security System (SSS).
Chart structure: account groupings
- The Circular groups accounts using account code ranges, and those groupings govern the account structure for the Revised PCGA.
- Assets are assigned 100-399.
- Asset Contra-Accounts are assigned 301-362.
- Liabilities are assigned 400-69 and Liability Contra Accounts are assigned 461-462.
- Equity is assigned 470-499.
- Income is assigned 500-699, with these income sub-groupings by code:
- 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 are assigned 700-997, with these expense sub-groupings:
- Personal Services: 701-749
- Maintenance and Other Operating Expenses: 751-989
- Financial Expenses: 751-989
- Intermediate Accounts are assigned 998-999.
- The Circular attaches the complete account codes, account titles, and account descriptions of the Revised PCGA to Annex A.
Reclassification and permissible use limits
- All account balances must be reclassified to the appropriate accounts in the Revised PCGA.
- Accounts other than those provided in the Revised PCGA must be used only upon prior approval of the Commission on Audit.
Effective date rule
- The Revised PCGA becomes effective after meeting the publication requirement: fifteen (15) days after publication in two newspapers of general circulation.
- The effectivity rule applies to the use of the Revised PCGA by covered government entities.