The codes for the PPE sub-major account group and General Ledger
account correspond to those provided in the Revised Chart of Accounts
prescribed under the Accounting Manuals of the respective Sectors
(National, Local, and Corporate).
Additional digits may be used for serial numbers and location/office, as
necessary.
5.7 For easy identification, the Property Number shall be prominently shown
on the property sticker, in addition to the following vital information on
the PPE item:
a. Description of the property
b. Model Number
c. Serial Number
d. Acquisition Date/Cost
e. Person Accountable
f. Space for the validation/signature of the Inventory Committee
5.8 The Inventory Committee shall be responsible for the actual count to
ascertain the existence, completeness, and condition of all PPEs owned
by the government agency.
5.9 In coordination with the Property Division/Unit, the Inventory Committee
shall plan/strategize on how to conduct and complete the physical
inventory within the prescribed period. It shall prepare a Physical
Inventory Plan (PIP) containing, at the least, the specific
assignments/duties of the Committee members, the cut-off date, and a
schedule specifying the dates and locations of the inventory-taking
activities from start-up to the targeted completion of the physical
inventory.
5.10 The PIP shall be approved by the Head of the Agency.
5.11 The Inventory Committee shall submit the approved PIP to the COA
Audit Team at least ten (10) calendar days before the scheduled start of
inventory activities.
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