One-Time Cleansing of Property, Plant, And Equipment (PPE) Account Balances in the Public Sector

Course Focus and Features

This course provides detailed guidance on the proper implementation of the one-time cleansing of Property, Plant, and Equipment (PPE) account balances as mandated by the Commission on Audit (COA). It is designed to help government agencies comply with accounting standards, eliminate discrepancies in PPE records, and ensure the reliability of financial statements.

Key Features:

• Step-by-step guidance on the PPE cleansing process in accordance with COA Circulars

• Reconciliation of accounting records with physical inventory

• Identification and derecognition of unserviceable or non-existent assets

• Preparation and submission of required reports and documentation

• Use of accounting adjustments to ensure accurate balances

Course Objectives

By the end of this course, participants will be able to:

1. Understand the policy framework for the one-time PPE cleansing initiative

2. Reconcile PPE balances with inventory records and physical counts

3. Apply appropriate accounting treatments for missing, unserviceable, or undocumented assets

4. Prepare and submit required reports to COA and oversight agencies

5. Establish ongoing procedures for maintaining accurate PPE records

Who Should Attend

This training is essential for NGAs, LGUs, SUCs and GOCCs/GFIs:

• Accountants and bookkeepers

• Inventory and supply officers

• Internal auditors and finance officers

• Property custodians and asset managers

• Records personnel
  

What You Will Learn

Participants will gain knowledge and practical skills in:

• Relevant COA Circulars and accounting standards (e.g., PPSAS)

• Procedures for PPE inventory-taking and documentation

• Common issues in PPE accounting and how to resolve them

• Adjusting entries, derecognition, and correction of misstatements

• Preparation of reconciliation reports and audit-ready documentation

• Setting up internal controls for ongoing asset management

Total Number of Hours - 16