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CIRCULAR No. : 2002 – 003

Date: June 20, 2002

To: All Heads of Local Government Units and All Others Concerned

Subject: Prescribing the anual on the !e" Government Accounting

S#stem $anual %ersion& 'or Use in Local Government Units

1.0  Purpose

(n line "ith COA Circular !o) *++,-++. dated October /+0 *++,0 1rescribing the !e" Government Accounting S#stem $!GAS& in all local

government units e2ce1t baranga#s0 effective 3anuar# ,0 *++*0 this manual on

the !GAS $manual version& is hereb# 1rescribed to ensure the 1ro1er 

accounting of all financial transactions of the Local Governments)

2.0 The Manual on the NGAS 

The !GAS anual on its manual version is com1osed of three volumes0

namel#:

%olume ( - The Accounting Policie. 

(t sho"s the basic features and 1olicies on !GAS0

the government accounting 1lan0 discussion on the

financial statements and other related records re4uired

and the illustrative journal entries)

%olume (( - The Accounting !oo", Reco#$, %o#& an$ Re'o#t.

 

(t contains the various formats of the boo5s of 

accounts0 registries0 records0 re1orts and forms including

instructions on their use)

 6e1ublic of the Phili11ines

C())I**I(N (N AUDIT

Common"ealth Avenue0 7ue8on Cit#

Phili11ines

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%olume ((( - The Cha#t o+ Account.

(t includes the list of accounts and the

definitions9descri1tions of each account)

3.0  Saving Clause

Cases not covered b# this Circular shall be referred to the Office of the

Chairman thru the Government Accounting and 'inancial anagement and

(nformation S#stem Office0 this Commission0 for resolution)

.0  Repealing Clause

This manual re1laces the Government Accounting and Auditing anual$GAA&0 %olume ((0 1rescribed under COA Circular !o) ,-/;<0 dated

=ecember ,0,,)

Li5e"ise0 all other circulars0 orders0 memoranda and e2isting rules and

regulations inconsistent "ith the 1rovisions of this anual are hereb#

amended9modified9revo5ed accordingl#)

-.0  Effectivity Clause

This Circular shall ta5e effect immediatel#)