CONTENTS OF THE GAM

Volume 1 Volume 2 Volume 3

22 Chapters, 19 Annexes, Acronyms 92 appendices 3 chapters

 Accounting policies  Books, Registries, Records,  List of accounts

Forms, and Reports
o Accounting
o Budget
o Treasury
o Property/Supply
Management

 Guidelines and Procedures  Instructions: How to  Code and description of

o Accounting accomplish accounts
o Budget
o Treasury
o Property/Supply
Management
 Illustrative Accounting entries  When/where to submit

 Sample format of the FS

CHANGES ADOPTED IN THE GAM (ACCOUNTING)

Particulars NGAs Manual GAM
FS Title 1. Balance sheet 1. Statement of Financial Position
2. Statement of Income 2. Statement of Financial Performance
and expenses 3. Statement of Changes in Net Assets/Equity
3. Statement of 4. Statement of Cash flow
government equity
4. Cash flow statement
Components of FS Four Six
In addition to the above:
5. Statement of Comparison of Budget and Actual
Amounts
6. Notes to Financial Statements
Chart of Accounts COA Circular 2004-008, COA Circular 2013-002, January 30, 2013
September 20, 2004 COA Circular, 2014-003, April 15, 2014
COA Circular 2015-007, October 22, 2015
Unified Accounts Code None Compliant
Structure (UACS)
Books Maintained Regular Agency Book and By Fund Cluster
National Government Book
Estimated useful lives of Prescribed by COA Management prerogative; COA prescribes the
PPE ranges
PPE Threshold None 50,000 and above
Inventory Closing Moving Weighted Average Moving Weighted Average; Specific Identification
Fund Maintenance One Fund Concept Fund Clustering (prescribed in UACS Manual)
01 – Regular Agency Fund
02 – Foreign Assisted Projects Fund
03 – Special Accounts – Locally Funded/Domestic
Grants Fund
 04 – Special Accounts – Foreign Assisted/Foreign
Grants Fund
05 – Internally Generated Funds
06 – Business Related Funds
07 – Trust Receipts
Cash Flow Direct Method Direct Method
Completed Public Derecognized Recognized
Infrastructure
Statement of Financial Without distinction With distinction: current and non-current
Position: Assets and
Liabilities
Statement of Financial Form part of income Not part of revenue from current operation
Performance subsidies,
transfers
Impairment loss None Recognized
Adjustment affecting Uses prior years’ Direct adjustment to equity; no more PYA account
Government equity adjustment (PYA) account
Income collection Without authority to use: Recognized by the NGAs concerned
recognized by BTr
With authority to use:
recognized by NGAs
Accounting for Donation:
w/ conditionality
w/o conditionality Income Liability
with restriction
Income Revenue

- Revenue

Monitoring of None Section C of Obligation Request and status (ORS)

obligation/payment
Reisdual value of PPE 10% of the cost At least 5% of the cost rates determined by the
management
New standards none PPSAS 3 - Accounting Policies, Changes in
Accounting estimates and errors
PPSAS 4 – The effects of changes in foreign
exchange rates
PPSAS 5 – Borrowing costs
PPSAS 6 – Consolidated and Separate Financial
Statements (Superseded by PPSAS 37, effective 1
January 2019)
PPSAS 9 – Revenue from Exchange transactions

CHANGES ADOPTED IN THE GAM (BUDGET)

Particulars NGAs Manual GAM
1. Maintenance of Registries of Allotments and Registries of Allotments, Obligations and
Registries Obligations (RAO) RAOPS, Disbursements (RAOD) (RAODPS, RAODMO,
RAOMOOE, RAOCO, RAOFE RAODCO, RAODFE)
RBU RBUDPS, RBUDMOOE, RBUDCO, RBUDFE
RAPAL (COA-GAS only) RAPA; (COA-GAS and agencies)
Registry of Revenue and None New
other receipts
2. Statement of None Additional component of FS
Comparison of Budget
and Actual Amounts
3. Monitoring of None Section C of Obligation Request and Status
Obligation/Payment (ORS)
4. Forms Obligation Request (ObR) Obligation Request and Status (ORS)
None Notice of Obligation Request and Status
Adjustment (NORSA)
Budget Utilization Request Budget Utilization Request and Status (BURS)
(BUR)
None Notice of Budget Utilization Request and Status
Adjustment (NBURSA)

GOVERNMENT ACCOUNTING MANUAL Provides updates on the following:

CONTENTS  Government Accounting policies,

guidelines, standards, and
 Legal Basis
procedures
 GAM for NGAs
 Coding structure and accounts
 Objectives
(Unified Account Code Structure
 Summary of contents
U.A.C.S)
 Changes adopted
 Accounting books, registries,
 New standards adopted
records, forms, reports, and financial
 Budget and Financial statements
Accountability Reports
 Accounting journal entries
LEGAL BASIS
CHAPTERS IN VOLUME 1, GAM FOR
Article 1X-D, Section 2 par, (2), 1987 NGAS
Philippine Constitution: mandates COA to
Chapter 1 – Introduction
promulgate accounting rules and regulations
Chapter 2 – General provisions, basic
GAM for NGAS: a PFM Reform
standards and policies
 An activity of the Accounting and Chapter 3 – Budget Monitoring and
Auditing Reforms Project under the Reporting
PFM Reform Roadmap
 Prepared by a committee supervised Chapter 4 – Responsibility Accounting
by COA’s Philippine Public Sector
Chapter 5 – Revenue and other receipts
Accounting Standards Board
 Exposed to various stakeholders for Chapter 6 – Disbursements
comment/recommendation •
Chapter 7 – Financial Instruments
Funded by a Kreditanstaltfur
Wiederaufbau (KfW) Technical Chapter 8 – Inventories
Assistance Fund
 Approved by COA Commission Chapter 9 – Investment Property
Proper, through Circular No. 2015- Chapter 10 – Property, Plant and Equipment
007 dated October 22, 2015
 Used effective January 01, 2016 Chapter 11 – Agriculture

OBJECTIVES OF THE GAM Chapter 12 – Intangible assets