REPUBLIC OF THE PHILIPPINES
COMMISSION ON AUDIT
Commonwealth Avenue, Quezon City, Philippines
CIRCULAR No. : 2003-001
Date : June 17, 2003
TO : Heads of Departments, Agencies, Bureaus and Offices of the National
Government and Local Government Units; Heads of Financial
Management Services, Local Treasurers, Accountants/Heads of
Accounting Units and Budget Officers; COA Assistant Commissioners;
COA Directors; Heads of Auditing Units; and All Others Concerned.
SUBJECT : REVISED CHART OF ACCOUNTS UNDER THE NEW
GOVERNMENT ACCOUNTING SYSTEM
1.0 PURPOSE
In consonance with the authority granted to the undersigned under COA
Circular Nos. 2002-002 and 2002-003 dated June 18 and 20, 2002,
respectively, this Circular is hereby issued to revise the Chart of Accounts as
part of the continuing effort of this Commission to simplify government
accounting and implement the Computerized New Government Accounting
System (NGAS).
2.0 THE REVISED NGAS CHART OF ACCOUNTS
The Revised NGAS Chart of Accounts, attached as Annex A of this
Circular, consists of accounts grouped as follows:
Accounts Account Code
Assets 100-299
Asset Contra-Accounts 300-399
Liabilities 400-499
Equity 500-549
Income 550-699
Tax Revenue -
National Taxes 550-579
Local Taxes 580-599
General Income -
Permits and Licenses 600-609
Service Income 610-629
Business Income 630-649
Subsidy Income 650-659
Other Income 660-679
Gain or Loss Accounts 680-699
Expenses 700-999
Personal Services 700-749
Maintenance and Other 750-969
Operating Expenses
Financial Expenses 970-999
3.0 SAVING CLAUSE
Cases not covered in this Circular shall be referred to the Government
Accounting and FMIS (GAFMIS), this Commission, for resolution.
4.0 REPEALING CLAUSE
The provisions of COA Circular Nos. 2002-002 and 2002-003 dated June
18 and 20, 2002, respectively, are hereby modified/revised accordingly.
5.0 EFFECTIVITY
This circular shall take effect January 1, 2003.
