COA Guidelines & Procedures: One-Time Cleansing of Property, Plant & Equipment Account Balances for

TUESDAY & WEDSNESDAY, JUNE 6 & 7, 2023 * 1:30PM TO 4:45PM VIA ZOOM

Part 1: Background
            • Rationale
            • Purpose
            • Coverage
               • Government Agencies
               • Property, Plant and Equipment Accounts
            • Key Players

 

Part 2: General and Procedural Guidelines of the Inventory Taking
            • General Guidelines
            • Procedural Guidelines
               • Inventory taking
                  - Preliminary activities prior to the conduct of inventory taking
                     ✓ Property Unit
                     ✓ Accounting Unit
                  - Actual inventory taking
                     ✓ Inventory Committee

Part 3: Reconciliation of inventory count per RPCPPE with property and accounting records and Recognition of
            PPE Found in Station
            • Property Unit
            • Accounting Unit

Part 4: Disposition Procedures for Non-existing/ Missing PPE
            • Property Unit
            • Accounting Unit

Part 5: Procedures in the Derecognition of Non-existing/ Missing PPE without Available Record of Accountability
            • Derecognition of Non-existing/ Missing PPE without Available Record of Accountability
               • Head of the Agency
               • Accountant
               • Accounting Unit
            • Responsibility and Authority to Decide Request for Derecognition
               • Responsible COA Officer

Part 6: Accounting Entries and Disclosure in the Notes to the Financial Statements
            • Accounting Standards on Recognition of PPE found at station
            • Recognition of loss of PPE and setting up accountability of accountable officer
            • Writing-Off/ Dropping of remaining balances of unreconciled SL for PPEs
            • Derecognition of non-existing/missing PPEs with authority from COA
            • Disclosures on PPE in the Notes to the Financial Statements

Basis/Reference:

COA Circular No. 2020-006 dated January 31, 2020 (Guidelines and Procedures in the Conduct of Physical Count of Property, Plant and Equipment (PPE), Recognition of PPE Items Found at Station, and Disposition for Non-existing/ Missing PPE Items, for the One-Time Cleansing of PPE Account Balances

 

Methodology:

On-line lecture and discussions via Zoom with Question-and-Answer segment

Attendees from the government are exempted from the P2,000.00 limit set by COA for attending training provided by the private sector based on Department of Budget and Management Circular No. 563 dated April 22, 2016.

Attending this training is not covered by Philippine Procurement Law or RA 9184 based on its Revised IRR’s Section 4.5-b. which classifies training continuing education, conferences and similar activities as "non-procurement activities that shall be governed by applicable COA, CSC, and DBM rules".