Annex E-Modified RCA Account Codes Desc PDF
Annex E-Modified RCA Account Codes Desc PDF
Annex E-Modified RCA Account Codes Desc PDF
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4. Account Title Cash in Bank-Local Currency, Current Account
Account Code 10102020
Normal Balance Debit
Description This account is debited to recognize deposits with AGDBs of income
received for which the agency has authority to use; trust receipts
authorized under specific contracts and agreements; Revolving Fund
under specific laws; and other transactions covered by credit
advices/memos received from the AGDBs. This account is credited for
check disbursements and other transactions covered by debit
advices/memos received from the AGDBs.
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In the BIR and BOC books, this account is debited for the constructive
receipt of tax revenue and customs duties through TRA, and this account
is credited for the year-end closing to Accumulated Surplus/(Deficit).
In the books of the BTr, this account is credited for the constructive
receipt of tax revenue and customs duties through TRA, and this account
is debited for the year-end closing to Accumulated Surplus/(Deficit)
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12. Account Title Investments in Government-Owned or Controlled Corporations
Account Code 10204010
Normal Balance Debit
Description This account is debited to recognize interests of NGAs and/or NG equity
in capital stocks of GFIs/GOCCs, and acquired entities. This account is
credited upon receipt of the return of investments, sale, transfers and
write-off.
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Government Organizations (NGOs)/Civil Society Organizations (CSOs)
for implementation of specific projects. This account is credited for
liquidation, write-off, and/or adjustments.
29. Account Title Medical, Dental and Laboratory Supplies for Distribution
Account Code 10402040
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Normal Balance Debit
Description This account is debited to recognize the cost of medical, dental and
laboratory supplies purchased/received for distribution to private
individuals/institutions or other government agencies. This account is
credited upon distribution to end-users, transfers, losses, other disposal,
and/or adjustments.
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end-users, transfers, losses, other disposal, and/or adjustments.
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users, transfers, losses, other disposal, and/or adjustments.
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without cost, of the roads, highways and bridges, underpass and other
road network facilities such as traffic lights, road signage for public use
and the like. This account is credited upon authorized disposal of the
asset, derecognition of the carrying amount of the replaced portion, and/or
adjustments.
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operations; animals in farms, fields, zoos, wildlife sanctuaries, aviaries,
aquariums; animals for research purposes; and the like. This account is
credited upon transfer to other agency, loss due to death or other causes,
other disposal, and/or adjustments.
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credited upon sale, transfers, loss or death, and/or adjustments.
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68. Account Title Forfeited Property/Assets
Account Code 19999030
Normal Balance Debit
Description This account is debited to recognize the fair value of seized/distraint non-
saleable persona l property which include, among others, debts, credits,
and interests in and rights to personal property of such persons, as
payment of tax liabilities of delinquent taxpayers. This account is credited
for collection, release of distraint, forfeiture, reclassification to other asset
accounts, and/or adjustments.
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Authorized Agent Banks (AABs) and other collecting agents. This
account is debited upon payment or return of the tax refunds to the
appropriate taxpayers, AAB or collecting agent, and/or adjustments.
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liability, and/or adjustments.
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84. Account Title Donations in Kind
Account Code 40402020
Normal Balance Credit
Description This account is credited to recognize all donations in kind received from
other government agencies, private sector or foreign donors without
conditions and/or upon fulfillment of conditions and with a term of more
than one year. This account also includes assets acquired at no or nominal
cost. This account is debited, at year end, to close to the Revenue and
Expense Summary account, and/or adjustments.
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credited, at year end, to close to the Revenue and Expense Summary
account, and/or adjustments.
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94. Account Title Legal Services
Account Code 50211010
Normal Balance Debit
Description This account is debited to recognize the cost incurred for authorized legal
services, rendered by private lawyers or lawyers from other government
agencies, excluding legal defense expenses. This includes special counsel
allowances granted to government lawyers from other agencies deputized
to represent the government in court as special counsel. This account is
credited, at year end, to close to the Revenue and Expense Summary
account, and/or adjustments.
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(TEF) Subsidy to GOCCs and NGAs. This account is credited, at year
end, to close to the Revenue and Expense Summary account, and/or
adjustments.
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Normal Balance Debit
Description This account is debited to recognize the cost of subscriptions for ICT
software, data center service, cloud computing service, library and other
reading materials, and the like. This account is credited, at year end, to
close to the Revenue and Expense Summary account, and/or adjustments.
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115. Account Title Loss on Initial Recognition of Biological Assets
Account Code 50504110
Normal Balance Debit
Description This account is debited to recognize amount of loss incurred upon initial
recognition of biological assets. This account is credited, at year end, to
close to the Revenue and Expense Summary account, and/or adjustments.
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