FINANCIAL STATEMENTS

Under the
NGAS
 The Financial Statements
Process
Statement of
Pre-Closing
Income and
TB
Expenses

Closing journal
Entries

Post-Closing Balance
TB Sheet
 Financial Statements

• Statement of Income and Expenses

• Balance Sheet
• Statement Cash Flows (Direct)
• Statement of Changes in Equity
• Notes to the Financial Statements
Types of Financial Statements

Statement of Income and Expenses

Detailed
Condensed

Balance Sheet
Detailed
Condensed

Statement of Cash Flows (Direct Method)

Statement of Income
and Expenses
 Statement of Income and Expenses

The Statement of Income and Expenses shows

the result of operations of an agency for a given
period.
It comprises the revenue/income, expenses
and net income/loss.

The Statement of Income and Expenses shall

be prepared by the Accounting Division based
on the data reflected on the Pre-Closing Trial
Balance.
Detailed Statement of Income and Expenses

Department/Agency Name
Detailed Statement of Income and Expenses
For the Year Ended December 31, 200__

Income
Subsidy Income
Subsidy Income from National Government xxx
Less :
Subsidy to Regional Offices/ Staff Bureaus xxx
Subsidy to Operating Units xxx xxx xxx
Permits and Licenses xxx
Franchising and Licensing Fees xxx
Permit Fees xxx
Registration Fees xxx
Other Permits and Licenses xxx
Fines and Penalties - Permits and Licenses xxx xxx

General Income
Detailed Statement of Income and Expenses

Service Income
Clearance and Certification Fees xxx
Inspection Fees xxx
Processing Fees xxx
Fines and Penalties - Service Income xxx xxx
Business Income
Tuition Fees xxx
Hospital Fees xxx
Income from Communication Facilities xxx
Landing and Parking Fees xxx
Printing and Publication Income xxx
Rent Income xxx
Other Business Income xxx
Fines and Penalties - Business Income xxx xxx
Other Income
Income from Grants and Donations xxx
Interest Income xxx
Miscellaneous Income xxx
Other Fines and Penalties xxx xxx xxx
Gross Income xxx
Detailed Statement of Income and Expenses

Expenses
Personal Services
Salaries and Wages
Salaries and Wages - Regular xxx
Salaries and Wages - Military/Uniformed xxx
Salaries and Wages - Contractual xxx
Salaries and Wages - Emergency xxx xxx
Other Compensation
Personnel Economic Relief Allowance (PERA) xxx
Additional Compensation (ADCOM) xxx
Representation Allowance (RA) xxx
Transportation Allowance (TA) xxx
Clothing/Uniform Allowance xxx
Productivity Incentive Allowance xxx
Honoraria xxx
Longevity Pay xxx
Cash Gift xxx
Year End Bonus xxx xxx
Detailed Statement of Income and Expenses

Personnel Benefits Contributions

Life and Retirement Insurance Contributions xxx
PAG-IBIG Contributions xxx
PHILHEALTH Contributions xxx
ECC Contributions xxx xxx
Other Personnel Benefits
Pension Benefits - Civilian xxx
Pension Benefits - Military/Uniformed xxx
Retirement Benefits - Civilian xxx
Retirement Benefits - Military/Uniformed xxx
Terminal Leave Benefits xxx
Other Personnel Benefits xxx xxx
Detailed Statement of Income and Expenses

Maintenance and Other Operating Expenses

Traveling Expenses
Traveling Expenses -Local xxx
Traveling Expense- Foreign xxx xxx
Training and Scholarship Expenses
Training Expenses xxx
Scholarship Expenses xxx xxx
Supplies and Materials Expenses
Office Supplies Expenses xxx
Accountable Forms Expenses xxx
Food Supplies Expenses xxx
Drugs and Medicine Expenses xxx
Medical, Dental and Laboratory Supplies Expenses xxx
Gasoline, Oil and Lubricants Expenses xxx
Agricultural Supplies Expenses xxx
Textbooks and Instructional Materials Expenses xxx
Military and Police Supplies Expenses xxx
Other Supplies Expenses xxx xxx
Detailed Statement of Income and Expenses

Utility Expenses
Water Expenses xxx
Electricity Expenses xxx
Cooking Gas Expenses xxx xxx
Communication Expenses
Postage and Deliveries xxx
Telephone Expenses - Landline xxx
Telephone Expenses - Mobile xxx
Internet Expenses xxx
Cable, Satellite, Telegraph, and Radio Expenses xxx xxx
Membership Dues and Contributions to Organizations xxx
Awards and Indemnities xxx
Advertising Expenses xxx
Printing and Binding Expenses xxx
Rent Expenses xxx
Representation Expenses xxx
Transportation and Delivery Expenses xxx
Storage Expenses xxx
Subscription Expenses xxx
Detailed Statement of Income and Expenses
Rewards and Other Claims xxx
Professional Services
Legal Services xxx
Auditing Services xxx
Consultancy Services xxx
Environment/Sanitary Services xxx
General Services xxx
Janitorial Services xxx
Security Services xxx
Other Professional Services xxx xxx
Repairs and Maintenance
Land Improvements
Repairs and Maintenance -Land Improvement xxx
Buildings
Repairs and Maintenance - Office Buildings xxx
Repairs and Maintenance - School Buildings xxx
Repairs and Maintenance - Hospitals and Health Centers xxx
Leasehold Improvements
Repairs and Maintenance - Leashold Improvements, Land xxx
Repairs and Maintenance - Leashold Improvements, Buildings xxx
Repairs and Maintenance - Other Leasehold Improvements xxx
Repairs and Maintenance - Other Structures xxx xxx
Detailed Statement of Income and Expenses

Office Equipment, Furniture and Fixtures

Repairs and Maintenance - Office Equipment xxx
Repairs and Maintenance - Furniture and Fixtures xxx
Repairs and Maintenance- IT Equipment
and Software xxx xxx
Machineries and Equipment
Repairs and Maintenance - Machineries xxx
Repairs and Maintenance -
Communication Equipment xxx
Repairs and Maintenance - Medical, Dental
and Laboratory Equipment xxx
Repairs and Maintenance - Sports Equipment xxx
Repairs and Maintenance- Other Machineries
and Equipment xxx xxx
Detailed Statement of Income and Expenses

Transportation Equipment
Repairs and Maintenance - Motor Vehicles xxx
Repairs and Maintenance - Aircraft and
Aircraft Ground Equipment xxx
Repairs and Maintenance - Other Transportation
Equipment xxx xxx
Other Property, Plant and Equipment
Repairs and Maintenance - Other Property,
Plant and Equipment xxx
Public Infrastructures
Repairs and Maintenance - Roads, Highways
and Bridges xxx
Detailed Statement of Income and Expenses

Subsidies and Donations

Subsidy to Local Government Units xxx
Subsidy to Government Owned and Controlled Corp. xxx
Subsidy to NGOs/POs xxx
Donations xxx xxx
Confidential, Intelligence, Extraordinary and
Miscellaneous Expenses
Confidential Expenses xxx
Intelligence Expenses xxx
Extraordinary Expenses xxx
Miscellaneous Expenses xxx xxx
Taxes, Insurance Premiums and Other Fees
Taxes, Duties and Licenses xxx
Fidelity Bond Premiums xxx
Insurance Expenses xxx xxx
Detailed Statement of Income and Expenses
Non-Cash Expenses
Bad Debts
Bad Debts Expense xxx
Depreciation
Land Improvements
Depreciation - Land Improvements xxx
Depreciation - Other Land Improvements xxx xxx
Buildings
Depreciation - Office Buildings xxx
Depreciation - Other Structures xxx xxx
Leasehold Improvements
Depreciation - Leasehold Improvements, Land xxx
Depreciation - Leasehold Improvements, Buildings xxx
Depreciation - Other Leasehold Improvements xxx xxx
Office Equipment, Furniture and Fixtures
Depreciation - Office Equipment xxx
Depreciation - Furniture and Fixtures xxx
Depreciation - IT Equipment xxx
Depreciation - Library Books xxx xxx
Machineires & Equipment
Depreciation - Communication Equipment xxx
Depreciation - Medical, Dental and Laboratory Equipment xxx
Depreciation - Sports Equipment xxx
Depreciation - Other Machineries and Equipment xxx xxx
Detailed Statement of Income and Expenses
Transportation Equipment
Depreciation - Motor Vehicles xxx
Depreciation - Aircraft and Aircraft Ground Equip.xxx
Depreciation - Other Transportation Equip. xxx xxx xxx
Depletion
Obsolescence - IT Software xxx
Other Maintenance and Operating Expenses
Other Maintenance and Operating Expenses xxx xxx
Total Operating Expenses xxx
Net Operating Income (Loss) xxx
Add (Less): Other Income (Expenses)
Interest Income xxx
Gain/Loss on Foreign Exchange xxx
Gain/Loss on Sale of Disposed Assets xxx xxx
Financial Expenses
Bank Charges (xxx)
Interest Expenses (xxx) (xxx)
Loss of Assets (xxx) xxx
Net Income (Loss) xxx
Condensed Statement of Income and Expenses

Department ________________
Condensed Statement of Income and Expenses
Year Ended December 31, 2002

Income
Subsidy Income from National Government xxx
General Income
Permits and Licenses xxx
Service Income xxx
Business Income xxx
Other Income xxx xxx
Gross Income
Less: Expenses
Personal Services
Salaries and Wages xxx
Other Compensation xxx
Personnel Benefits Contributions xxx
Other Personnel Benefits xxx xxx
Maintenance and Other Operating Expenses
Traveling Expenses xxx
Training and Scholarship Expenses xxx
Supplies and Materials Expenses xxx
Condensed Statement of Income and Expenses

Utility Expenses xxx

Communication Expenses xxx
Membership Dues and Contributions to Organizations xxx
Advertising Expenses xxx
Printing and Binding Expenses xxx
Rent Expenses xxx
Representation Expenses xxx
Subscription Expenses xxx
Professional Services xxx
Repairs and Maintenance xxx
Condensed Statement of Income and Expenses

Subsidies and Donations xxx

Confidential, Intelligence, Extraordinary and
Miscellaneous Expenses xxx
Taxes, Insurance Premiums and Other Fees xxx
Non-Cash Expenses xxx
Other Maintenance and Operating Expenses xxx xxx
Net Operating Income (Loss)
Add (Less): Other Income (Expenses)
Other Income xxx
Gain/Loss Accounts xxx xxx
Loss of Assets (xxx)
Financial Expenses (xxx) (xxx)

Net Income (Loss) xxx