The Revised
Chart of Accounts
RCA (Updated 2019)
➢ The Revised Chart of Accounts (RCA)
(Updated 2019), as Object Code in the
Unified Accounts Code Structure (UACS).
➢ The COA Revised Chart of Accounts is
based on the PPSAS as adopted from the
IPSAS.
➢ During the implementation of the GAM for NGAs,
the need to provide additional accounts for some
financial transactions and to modify some
existing account titles, codes and descriptions
emerged.
➢ The Chart of Accounts is further revised to
include additional and modified accounts and to
enable agencies to properly recognize and
present their financial transactions.
UACS Object Coding Scheme
The UACS Object Code (ten digits), which
consists of the RCA Code (eight digits) and the
UACS Sub-Object Code (two digits), is used in the
recognition of transactions in the books of
accounts and in the generation of financial reports
which requires details by sub-object codes.
UACS Object Coding Scheme
Codes are assigned to account groups to
facilitate location of accounts in the general and
subsidiary
ledgers,
provide
systematic
arrangement and classification of accounts, and
facilitate preparation of consolidated financial
statements/reports.
UACS Object Coding Scheme
0
00
Account Group
Major Account Group
Sub-Major Account Group
General Ledger Account
General Ledger Contra-Account
UACS Sub-Object Code
00
00
0
00
It consists
of ten (10)
mandatory
digits.
Elements of Financial Statements
Account Group represents the accounts classification
Code
Account Group
1
Assets
2
Liabilities
3
Equity
4
Revenue/Income
5
Expenses
Elements of Financial Statements
➢ Major Account Group classifies the account
within an account group, e.g. for asset major
accounts: cash and cash equivalents,
investments,
receivables,
inventories,
investment property, etc.
Elements of Financial Statements
➢ Sub-Major Account Group further classifies
the account within the major account group,
e.g. for cash and cash equivalents: Cash on
Hand, Cash in Bank-Local Currency, Cash in
Bank-Foreign Currency, etc.
Elements of Financial Statements
➢ General Ledger (GL) account represents the
account to be presented in the detailed
financial statements, this is composed of (2)
segments. The first two digits from left is the
GL account code and the last digit is
reserved to indicate whether it is a contra
account.
Elements of Financial Statements
➢ UACS
Sub-Object
Code
represents
disaggregation of selected assets, liabilities,
revenue/income, and expenses.
➢ Coding of assets without or with contra
accounts shall be shown in the next slide.
Asset without Contra Account
Cash-Collecting Officers
1
Asset
Cash and Cash Equivalent
Cash on Hand
Cash-Collecting Officers
General Ledger Contra-Account
UACS Sub-Object Code
01
01
01
0
00
Asset with Contra Account
Accounts Receivable
1
Asset
Receivables
Loans and Receivable Accounts
Accounts Receivable
General Ledger Contra-Account
UACS Sub-Object Code
03
01
01
0
00
Asset Contra Account
Allowance for Impairment-Accounts Receivable
1
Asset
Receivables
Loans and Receivable Accounts
Accounts Receivable
Allowance for Impairment-Accounts
Receivable
UACS Sub-Object Code
03
01
01
2
00
Elements of Financial Statements
➢ The UACS Object Codes for Capital Outlay
expenditures are classified in the UACS
Manual
as
expenses
(5060000000).
However, these accounts are used for budget
purposes only.
Elements of Financial Statements
➢ For budget purposes, the UACS Object Code
for
expenses
(starting
with
code
‘5000000000’) shall be used instead of the
UACS Object Code for assets (starting with
code ‘1000000000’).
Elements of Financial Statements
➢ The basis for coding the object classification
in the COA Revised Chart of Accounts is
accrual
accounting
which
requires
transactions to be recorded in the period
when they occur.
Elements of Financial Statements
➢ Elements of Financial Statements of
government agencies recognized under
accrual accounting are those elements relate
to the status or measurement of financial
position and performance of government
agencies.
Responsibility for Updating the UACS Object Code
The first eight digits of the UACS Object Code
are drawn from the Chart of Accounts prescribed
by the COA. The last two digits (referred to as
UACS sub-object codes) are prescribed by the
UACS Committee, composed of representatives
from the DBM, DOF and COA.
Accounts
Agency Responsible for Disaggregation
Cash in Bank
Bureau of the Treasury (BTr)
Taxes
Bureau of Internal Revenue (BIR)
Import Duties
Bureau of Customs (BOC)
Non-Tax Revenues
DOF/BTr
Accounts
Agency Responsible for Disaggregation
Personnel Services
DBM
Maintenance and Other
Operating Expenses
DBM/COA
Financial Expenses
DBM/COA
Capital Outlays
DBM
➢ Chapter 2 – List of Accounts
This chapter contains the titles, RCA codes
(eight digits), UACS sub-object codes (two digits),
and UACS Object Codes (ten digits) of the
accounts, and the applicable PPSASs.
➢ Chapter 3 – Description of Accounts
This chapter presents the titles, codes, normal
balances, and descriptions of all the accounts in
the list except for the UACS sub-object codes.
List of Accounts
RCA Code
UACS SubObject Code
UACS Object
Code
10000000
00
1000000000
Cash and Cash Equivalents
10100000
00
1010000000
Cash on Hand
10101000
00
1010100000
Cash-Collecting Officers
10101010
00
1010101000
Petty Cash
10101020
00
1010102000
Account Title
Assets
Description of Accounts
Description of Accounts
Submitted By:
Pintes, Irah G. - The Revised Chart of Accounts
(Slides 1-6, 19-25)
Quiambao, Regine- Elements of Financial Statements
(Slides 7-18)