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Property, Plant and Equipment

What are Property Plant and Equipment (PPE)?
How do you measure and recognize value of PPE?
What PPE are considered semi- expendable?
What is unserviceable property?
What is an Inventory and Inspection Report of Unserviceable Property (IIRUP)?
What is an Inventory and Inspection Report of Unserviceable Semi-expendable Property (IIRUSP)?
What are the modes of disposal of unserviceable PPE?
When is the appropriate time to drop from the books the unserviceable PPE? Is it after disposal or upon preparation of the Inventory and Inspection Report of Unserviceable Property (IIRUP)?
When is an accountable officer liable for the loss or damage of property under his/her custody?
Is COA Circular No. 89-296 on Property Disposal applicable to agencies holding foreclosed assets?
Is it necessary to hire an appraiser for the appraisal of unserviceable properties?
What are the requirements for the request for relief of property/money accountability?
How is the appraised value of the waste materials determined?
Are we going to apply the same disposal procedures for the salvage materials from demolished/repaired buildings?
If the property has already exceeded its useful life, will this be automatically subjected to disposal? How long, in terms of years, can a vehicle be disposed of, even if still serviceable?
How frequent should the agency appraise and dispose of unserviceable assets? To facilitate the volume of property, is it possible to do disposal of property quarterly? Can we dispose that equipment which were damaged by earthquakes acquired 2 years ago?
What is the consequence when an employee made an illegal payment or disposition of public funds upon the instruction of the head of the agency?
What is the remedy if an accountable officer disagrees with a specific transaction?
What should an accountable officer do when he/she loses a government owned property/asset of his assigned Local Government Agency?
What are the procedures in derecognizing non-existing or missing PPEs?
What should the agency do for PPE items found during the physical count but not recorded in the books?
What are semi-expendable items and how should it be recorded in the books?
Can the agency dispose of properties not recorded in the books but physically present and currently in the agency’s custody?
Regarding the cleansing of PPE, what are the remedies for the management for the unrecociled items in PPE?
What is the procedure for the Disposal of properties and other assets owned by the Local Government Units?
What are applicable COA guidelines on the disposal of properties of LGUs?
Who may file the Request Relief from Accountability due to fortuitous events or natural calamities, or due to acts of man; theft, robbery, arson, etc.?
Who will decide on the request?
What is the effect of Relief from Accountability by COA?
What is one time cleansing of PPE accounts?
What is the capitalization threshold for items of Property, Plant and Equipment?
What would be the accounting treatment to previously classified PPE amounting to P15,001 to P50,000 now classified as Semi-Expendable Property for current and prior years?
Are works of art such as paintings, the value of which appreciate or increase through time, be classified as semi-expendable property?
What is the reglementary period in filing a notice of loss to the COA auditor as a requirement for the request for relief from property accountability?
How much is the filing fee for a request for relief from money or property accountability?
What are the types of disposals of unserviceable properties and its step by step procedures?
What are the requirements for the disposal of unserviceable properties?
What are the requirements for the disposal of unserviceable properties by way of demolition?
Is it allowed that the unserviceable properties without value be transferred to any individual connected with the agency instead of destroying or throwing them?
Whose appraised value must prevail? That of the agency or the COA?
What is Waste Materials Report (WMR)?
What will be the recognition value of donated properties?
What are the property records to be maintained by the Chief Accountant?
What is the frequency of taking physical inventory of supplies or property?
When should the inventory report of Property plant and equipment be submitted?
What are considered as Semi-Expandable Property?
How to de-recognize non-existing/missing PPEs without available record of accountability?