Prescribing the Government Accounting Manual for Use of All National Government Agencies

October 22, 2015

COA CIRCULAR NO. 007-15

 

1.0 Purpose/Coverage

This Circular is issued to prescribe the Government Accounting Manual (GAM) for use of all National Government Agencies (NGAs) consisting of departments, bureaus, offices and instrumentalities, including state universities and colleges, in accordance with pertinent accounting and budgeting rules and regulations, including the following:

a. Commission on Audit (COA) Circular No. 2013-002 dated January 30, 2013 prescribing the Adoption of the Revised Chart of Accounts for National Government Agencies (NGAs);

b. COA Resolution No. 2014-003 dated January 24, 2014 prescribing the adoption of the Philippine Public Sector Accounting Standards (PPSAS);

c. COA Circular No. 2014-003 dated April 15, 2014 providing the implementing rules and guidelines on the 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 NGAs;

d. COA Circular No. 2015-002 dated March 9, 2015 prescribing supplementary guidelines on the preparation of financial statements and other financial reports, the transitional provisions of the implementation of the PPSAS and the coding structure;

e. COA-DBM Joint Circular No. 2013-1 dated March 15, 2013 prescribing the revised guidelines on the submission of Quaterly Accountability Reports on Appropriations, Allotments, Obligations and Disbursements;

f. COA-DBM Joint Circular No. 2014-1 dated July 2, 2014 prescribing the guidelines on the modified formats of the Budget and Financial Accountability Reports (BFARs);

g. COA-DBM-DOF Joint Circular No. 2013-1 dated August 6, 2013 prescribing the Unified Accounts Code Structure (UACS); and

h. COA-DBM-DOF Joint Circular No. 2014-1 dated November 7, 2014 providing the enhancement of UACS prescribed under COA-DBM-DOF Joint Circular No. 2013-1.

2.0 The Manual

The GAM (Annex A) is composed of three volumes, namely:

Volume I — Accounting Policies, Guidelines and Procedures, and Illustrative Accounting Entries

It contains the general provisions, basic standards and policies, the specific guidelines and procedures for each standard, and the illustrative entries for typical transactions of national government agencies.

Volume II — Accounting Books, Registries, Records, Forms and Reports

It contains the various formats of books of accounts, registries, records, forms and reports, and the instructions on their use.

Volume III — the Revised Chart of Accounts (Updated 2015)

It contains the List and Description of Accounts per COA Circular No. 2013-002 dated January 30, 2013, amendments per COA Circular No. 2014-003 dated April 15, 2014, and additional/modified accounts.

3.0 Saving Clause

Cases not covered in the GAM shall be referred to this Commission, through the Government Accountancy Sector, for resolution.

4.0 Repealing Clause

The GAM replaces the New Government Accounting System (NGAS) Manual, Volumes I, II and III, prescribed under COA Circular No. 2002-002 dated June 18, 2002.

Further, all other circulars, orders, memoranda and existing rules and regulations inconsistent with the provisions of the GAM are hereby amended/modified/revoked accordingly.

5.0 Effectivity

This Circular shall take effect on January 1, 2016.

(SGD.) MICHAEL G. AGUINALDOChairperson

(SGD.) HEIDI L. MENDOZACommissioner

(SGD.) JOSE A. FABIACommissioner

Note: Annex A of the Circular may be accessed in the COA Website @ www.coa.gov.ph

Published in The Philippine Star on November 5, 2015.