Receiver General for Canada

Transcription

1 Receiver General for Canada Government-wide Chart of Accounts: 2017 to 2018 Chapter 4: Financial reporting accounts: Detailed Updated : Page 1 of 115

2 Table of contents Table of contents 4.1 Introduction Accounting manual Financial reporting account utilization Structure for the financial reporting accounts 4.2 Financial reporting accounts Detailed for 2017 to Assets 2 Liabilities 3 Equity/Deficit 4 Revenue 5 Expenses 6 Cash reconciliation control accounts Master list of release notes for financial reporting accounts for 2017 to 2018 Appendix B Endnotes Page 2 of 115

3 4.1 Introduction This chapter provides an explanation of the financial reporting account (FRA) classification structure and contents, which for government-wide reporting purposes, identifies the relevant asset, liability, net assets/equity, revenue and expense accounts that are required for financial reporting (maintaining accounts in the general ledger) and for preparing the consolidated financial statements for the Government of Canada. The basis for coding the FRA classification is accrual accounting which requires transactions to be recorded in the period when they occur (and not only when cash or its equivalent is received or paid). Therefore, the transactions and events are recorded in the accounting records and recognized in the financial statements of the periods to which they relate. The elements recognized under accrual accounting are assets, liabilities, net assets/equity, revenue and expenses Accounting manual The Financial Information Strategy Accounting Manual URL: provides guidance on the appropriate coding for financial transactions. It should be read in conjunction with the Directive on Accounting Standards, Appendix A: Standard on the Government of Canada Accounting Handbook (GCAH) URL: which is the authoritative accounting reference manual. The GCAH states the Government s accounting choices where options exist under Public Sector Accounting Standards (PSAS), provides the Government s accounting policies in the absence of specific PSAS, and provides specific policies relevant to departmental financial statements or quarterly financial reports. The accounting manual also gives examples of most routine transactions and many complex ones that are unique to government and highlight differences between reporting on an accrual accounting basis, accounting for authorities, and reporting by objects. The Receiver General manual, chapter 10 "Accounting entries" provides additional examples of accounting entries and serve to supplement the Financial Information Strategy Accounting Manual Financial reporting account utilization The Financial reporting accounts (FRAs) included in the departmental Central Financial Management Reporting System (CFMRS) monthly trial balances contain the data needed by the Receiver General (RG) to prepare the financial statements on a monthly and annual basis. Monthly government-wide financial statements are included in the Monthly Statement of Financial Operations (MSFO), which is used by the Department of Finance Canada to produce the results issued in the monthly Fiscal Monitor. The government's annual financial statements are audited by the Auditor General and are included in the Public Accounts of Canada that are tabled, each fall, in Parliament. These statements are also included on a consolidated basis in the Annual Financial Report of the Government of Canada, which is published by the Minister of Finance. Page 3 of 115

4 4.1.3 Structure for the financial reporting accounts The financial reporting account (FRA) structure is designed to identify accounting transactions as follows: Assets are economic resources controlled by an entity as a result of past transactions or events and from which future economic benefits may be obtained. The assets are classified as being either financial assets (cash, accounts receivable, and loans, investments and advances, etc.) and non financial assets (inventories, buildings, machinery and equipment, capital leases and work in progress, etc.). Liabilities are financial obligations to outside organizations and individuals as a result of transactions and events on or before the accounting date. Liabilities are the result of contracts, agreements and legislation in force at the accounting date that require the government to repay borrowings or to pay for goods and services acquired or provided prior to the accounting date. The liabilities generally consist of accounts payable, accrued interest payable, accrued salaries and wages, superannuation, public debt, etc. Net assets/liabilities represent the difference between total assets and liabilities. When the total assets exceed total liabilities, the resulting amount represents net assets. When total liabilities exceed total assets, the resulting amount represents net liabilities. The net assets/liabilities consists of two categories; unrestricted net assets/liabilities and restricted net assets/liabilities. Following the end of each fiscal year, the net balances from the revenues, expenses and departmental payment, payroll, interdepartmental settlement (IS), and deposit control accounts, as well as 35ddd (Organization Transfer out/in), 36ddd (Opening Balance Adjustments), 37ddd (Capital Assets Transfer Out/In Offset) and 38ddd (Accounts Receivable Transition Payment Transfer Out/In Offset accounts) are converted as appropriate into the new year opening balance of the unrestricted net assets/liabilities or the restricted net assets/liabilities account(s). Revenues are increases in economic resources, either by way of inflows or enhancements of assets or reductions of liabilities, resulting from the ordinary activities of a department. They can result from activities such as tax revenue, the sale of goods or services, gain on sales of assets, interest and penalties earned on tax and non tax revenue, and return on investments. Expenses are the cost of resources consumed in and identifiable with the operations of the accounting period. Examples of expenses include operating expenses, grants and contributions, salaries, etc. Cash reconciliation control accounts are similar to a bank account. However, since the cash accounts are restricted to the Receiver General (that is, consolidated revenue fund), departments are required to use the cash reconciliation control accounts. The major difference between the control accounts and bank accounts is that control accounts are closed into net assets/liabilities at year end after all other closings have been done. Page 4 of 115

5 4.2 Financial reporting accounts Detailed for 2017 to Assets 11 Current assets 111 Cash 1111 Cash balances Cash on deposit in Canadian currency (Consolidated Revenue Fund) Special deposits held in trust - Receiver General Cash on deposit in foreign currencies Cash held as collateral 1112 Outstanding deposits (cash in transit) Cash in transit and in hands of collectors at year end Deposits in transit to the Receiver General Outstanding deposits Cash in hands of departments awaiting deposit to the Receiver General 1113 Outstanding payments Outstanding payments (Receiver General cheques and other) Imprest accounts cheques Payments in transit to the Receiver General 1114 Cash equivalent accounts Page 5 of 115

6 11141 Traveller's Cheques Term deposits auction Description:The term deposits resulting of auction are administered by the Bank of Canada and the department of Finance on behalf of the Minister of Finance (Canada). These short-term deposits are made from a portion of the daily surplus of cash balance through the auction orchestrated by the Bank of Canada. The main objective is to deal with short-term cash commitments and not for the purpose of investments. Consequently, the short-term deposits in Canadian currency have short-term of maturity, usually they do not exceed 31 calendar days Other cash equivalent accounts Description:This account is only to be used where no other asset financial reporting account adequately characterizes the transaction Other cash accounts Consolidated Crown corporations and other entities Other cash accounts Description:This account is only to be used where no other asset financial reporting account adequately characterizes the transaction. 112 Accounts receivable 1121 Accounts receivable - Tax revenue Personal income tax Corporate income tax Goods and services tax, including the harmonized sales tax Other excise taxes and duties Canada Border Services Agency Page 6 of 115

7 11215 Energy taxes Other taxes Customs duties and taxes on imports Canada Border Services Agency - (Administered Activities) Canada Border Services Agency Source deductions Non-residents 1122 Accounts receivable - Other revenue, excluding interdepartmental Accounts receivable - Other revenue Accrued receivables For material amounts not yet billed Other receivables Allowance for doubtful accounts - Accounts receivable for other revenue, excluding interdepartmental Description:This contra account is used to write off an account receivable in the 1122x category to its estimated realizable value as soon as it is known that it is not collectible in full. This account should have/is expected to have a credit balance Accounts receivable - Other Accounts receivable for refunds of program expenses Consolidated Crown corporations and other entities Overpayments to be recovered Accrued interest receivables on loans Description:If there is a provision in the loan agreement, interest can be capitalized by including the interest in the loan financial reporting account (FRA). Page 7 of 115

8 11235 Accrued interest receivables on term and demand deposits Transition payment - Pay in arrears Salary overpayments Description:This account is used to record the receivable of a salary overpayments issued by the Regional Pay System (RPS). This FRA should only be used with the entitlement code 406 (Salary overpayments) and the deduction codes 566, Recovery of overpayment - Current year, or 567, Recovery of overpayment - Previous year Unamortized discount on receivables Allowance for doubtful accounts - Other accounts receivable Description:This contra account is used to write off an account receivable in the 1123x category to its estimated realizable value as soon as it is known that it is not collectible in full. This account should have/is expected to have a credit balance Accounts receivable - Interdepartmental Other government departments (OGD) - Accounts receivable Description:An account which records amounts to be received from an Other government department (OGD) for the sale of goods and/or services rendered but the Interdepartmental Settlement (IS) has not been initiated. Month-end and year-end receivables will be recorded using this financial reporting account (FRA). It is comparable to the intercompany accounts receivables in the private sector and will need to be eliminated by the Receiver General at a government-wide level for the purposes of consolidation. Its liability counterpart is FRA Other government department (OGD) - Accounts payable. Note: This account should not be used as a suspense account for IS processing. Please refer to FRA for this purpose. Reference: Financial Information Strategy Accounting Manual "I" indicator to be used with this account except for opening balance Other government department (OGD) - Suspense advances The balance in this account must be zero at year-end Interdepartmental settlement (IS) credits in transit to the Receiver General (for Creditor initiated IS) "I" indicator to be used with this account except for opening balance Accounts Receivable - Tax Revenue - Interdepartmental allocations Page 8 of 115

9 11251 Canada Pension Plan Premiums receivable from Canada Revenue Agency (CRA) Employment and Social Development (Department of) Employment insurance contributions receivable from Canada Revenue Agency (CRA) Employment and Social Development (Department of) Old Age Security overpayments receivable from Canada Revenue Agency (CRA) Employment and Social Development (Department of) Provincial tax collections receivable from Canada Revenue Agency (CRA) Provincial benefit programs receivable from Finance Source deductions receivable from other government department (OGD) Other receivables 1127 Allowance for doubtful tax accounts - Tax revenue Personal income taxes Corporate income taxes Goods and services tax (GST) Canada Border Services Agency - (Administered Activities) Canada Border Services Agency Page 9 of 115

10 11274 Excise tax and duties Canada Border Services Agency - (Administered Activities) Canada Border Services Agency Energy taxes Other taxes Customs duties and taxes on imports Canada Border Services Agency - (Administered Activities) Canada Border Services Agency Source deductions Non-residents 113 Accounts receivable - Tax revenue accrual estimates 1131 Personal income tax - Accrual estimates T1 Instalments received from individuals Estimated accrued receivable (contra) Canada Border Services Agency Suspense clearing accounts 1132 Personal income tax - Employers source deductions accrued Page 10 of 115

11 11321 T4 Source deductions installments received from employers Estimated accrued receivable (contra) Suspense clearing accounts 1133 Corporate income tax - Accruals T2 Installments received from corporations Estimated accrued receivable (contra) Suspense clearing accounts Canada Border Services Agency 1134 Non-resident tax - Accruals Tax withheld on behalf of non-residents Estimated accrued receivable (contra) Suspense clearing accounts 1135 GST - Accruals Installments received from vendors Page 11 of 115

12 11352 Estimated accrued receivable (contra) Canada Border Services Agency - (Administered Activities) Canada Border Services Agency Suspense clearing accounts Canada Border Services Agency - (Administered Activities) Canada Border Services Agency 1136 Excise taxes - Accruals Installments received from manufacturers Estimated accrued receivable (contra) Canada Border Services Agency - (Administered Activities) Canada Border Services Agency Suspense clearing accounts Canada Border Services Agency - (Administered Activities) Canada Border Services Agency 1137 Customs duties - Accruals Installments received from importers Estimated accrued receivable (contra) Canada Border Services Agency - (Administered Activities) Canada Border Services Agency Suspense clearing accounts Canada Border Services Agency - (Administered Activities) Canada Border Services Agency 1139 Other tax revenue - Accruals Page 12 of 115

13 11391 Installments/Withholding received Estimated accrued receivable (contra) Suspense clearing accounts Canada Border Services Agency - (Administered Activities) Canada Border Services Agency 12 Foreign exchange accounts 121 International Monetary Fund 1211 Subscriptions and notes payable Subscriptions Notes payable (contra) International Monetary Fund - General Resources Account Lending 1212 Special drawing rights allocations Special drawing rights allocations 122 Other 1221 Exchange fund account International reserves held in exchange fund account Accrued gains and losses on exchange fund account Page 13 of 115

14 13 Loans, investments and advances (LIA) Departments will be required to identify loans and advances of less than one year in their departmental systems, so the amounts are available at year-end for supplementary analysis purposes. 131 Loans, investments and advances to Crown corporations Description:Accounting requirements for capitalized interest on loans are described in the financial reporting account (FRA) Investments in major/lending institution enterprise Crown corporations Canada Deposit Insurance Corporation Canada Mortgage and Housing Corporation Canada Mortgage and Housing Corporation (Crown Corporation) Export Development Canada Foreign Affairs, Trade and Development (Department of) Export Development Canada (Crown Corporation) Farm Credit Canada Agriculture and Agri-Food (Department of) Business Development Bank of Canada Industry (Department of) 1312 Loans and advances to major/lending institution enterprise Crown corporations Canada Deposit Insurance Corporation Canada Mortgage and Housing Corporation Canada Mortgage and Housing Corporation (Crown Corporation) Page 14 of 115

15 13123 Export Development Canada Export Development Canada (Crown Corporation) Farm Credit Canada Agriculture and Agri-Food (Department of) Business Development Bank of Canada Industry (Department of) 1313 Investments in other enterprise Crown corporations Bank of Canada Canada Development Investment Corporation Royal Canadian Mint Canada Hibernia Holding Corporation Ridley Terminals Transport (Department of) Crown corporation enterprises (CCE) - Equity adjustments Other investments in other enterprise Crown corporations Description:This account is only to be used where no other asset financial reporting account adequately characterizes the transaction Loans and advances to other enterprise Crown corporations Page 15 of 115

16 13142 Canada Post Corporation Canada Revenue Agency Freshwater Fish Marketing Corporation Fisheries and Oceans (Department of) Ports Corporations Transport (Department of) Canada Lands (notes receivable) Other loans and advances to other enterprise Crown corporations Description:This account is only to be used where no other asset financial reporting account adequately characterizes the transaction Investments in consolidated Crown corporations Atomic Energy of Canada Limited Natural Resources (Department of) Canadian Broadcasting Corporation Canadian Heritage (Department of) VIA Rail Canada Inc Transport (Department of) Other investments in consolidated Crown corporation 1316 Loans and advances to consolidated Crown corporations Atomic Energy of Canada Limited Natural Resources (Department of) National Capital Commission Foreign Affairs, Trade and Development (Department of) Canadian Heritage (Department of) Page 16 of 115

17 13164 Canadian Dairy Commission Agriculture and Agri-Food (Department of) Other loans and advances to consolidated Crown corporation 1317 Loans, investments and advances for consolidated Crown corporations Loans, investments and advances to consolidated Crown corporations 1318 Unamortized premium/discount on loans to Crown corporations Unamortized premium/discount on loans to Crown corporations Unamortized premium/discount on notes receivable to Canada Lands Corporation 132 Loans, investments and advances to other governments and organizations 1321 Provincial and territorial governments for regional and industrial development Breakout by province or territory of these accounts is not required centrally. Departments will need to keep data by province in their departmental systems to meet annual Public Accounts requirements Atlantic Development Board for water projects Industry (Department of) Atlantic Provinces Power Development Act Industry (Department of) Financing of special areas and highway agreements Atlantic Canada Opportunities Agency Financing of comprehensive plan development Atlantic Canada Opportunities Agency Other loans and advances for regional and industrial development Page 17 of 115

18 1322 Provincial and territorial governments for other purposes Breakout by province or territory of these accounts is not required centrally. Departments will need to keep data by province in their departmental systems to meet annual Public Accounts requirements Federal-Provincial fiscal arrangements Municipal development and loan boards for capital works Description:Loans have been made, to provinces and municipalities, to augment or accelerate municipal capital works programs Winter capital projects fund Financing of regional electrical interconnections Natural Resources (Department of) Expansion of Agricultural Service Centres Agriculture and Agri-Food (Department of) Provincial tax collection overpayments - T3 Description:To record recoverable overpayments made to the provinces from the Provincial Tax Collection Agreements as a result of an error in the accumulation of tax revenues from trusts (T3) Unamortized discounts on loans to provincial and territorial governments Other loans and advances to provincial and territorial governments 1323 National governments, including developing countries National governments, excluding developing countries Page 18 of 115

19 13232 Developing countries Foreign Affairs, Trade and Development (Department of) Unamortized discounts for loans to developing countries (contra) Foreign Affairs, Trade and Development (Department of) Development of export trade Description:This account is administered by the Crown corporation Export Development Canada (EDC) Export Development Canada (Crown Corporation) Unamortized discounts for loans for development of export trade (contra) Export Development Canada (Crown Corporation) NATO for recoverable damage claims National Defence (Department of) Allowance for doubtful loans Other loans and advances to national governments and developing countries 1324 International organizations Capital subscriptions to development banks Foreign Affairs, Trade and Development (Department of) Capital subscriptions to international banks Foreign Affairs, Trade and Development (Department of) Loans to international organizations Foreign Affairs, Trade and Development (Department of) Page 19 of 115

20 13244 Advances to international organizations and associations Foreign Affairs, Trade and Development (Department of) Advance to Global Environmental Facility Foreign Affairs, Trade and Development (Department of) Capital subscriptions and contributions to International Development Association Foreign Affairs, Trade and Development (Department of) Allowance for subscriptions to international organizations (contra) Foreign Affairs, Trade and Development (Department of) Multilateral advances to international financial institutions Foreign Affairs, Trade and Development (Department of) Allowance for advances to international financial institutions (contra) Foreign Affairs, Trade and Development (Department of) 1325 Unamortized discounts for loans, investments and advances to international organizations Unamortized discounts for loans to international organizations (contra) Foreign Affairs, Trade and Development (Department of) 1326 Portfolio investments Lower Churchill Development Corporation Limited Natural Resources (Department of) Write-down for portfolio investments Other portfolio investments 1327 Other organizations Page 20 of 115

21 13271 Development of export trade payments made to private sector Description:This account is administered by the Export Development Canada Crown corporation (EDC). These payments are made to the private sector only (See account for payments made to national governments) Export Development Canada (Crown Corporation) Unamortized discounts for loans to the private sector for development of export trade (contra) Export Development Canada (Crown Corporation) Payments made to the private sector related to financial assistance to the automotive sector Description:This account is administered by the Export Development Canada Crown corporation (EDC) Export Development Canada (Crown Corporation) 133 Other loans, investments and advances 1331 Loans and accountable advances to employees Missions abroad (Foreign affairs working capital advances) Foreign Affairs, Trade and Development (Department of) Treasury Board Secretariat Personnel posted abroad (Foreign affairs working capital advances) Foreign Affairs, Trade and Development (Department of) Treasury Board Secretariat Imprest accounts, standing advances and authorized loans National Defence (Department of) Accountable advances (temporary advances) Page 21 of 115 Many of these advances are charged to departmental appropriations in the Authority codes at the time the advance is made, and then recorded at year-end as an asset in the Financial Reporting

22 Accounts (if it has not been re-paid) Standing advances to employees These advances may be for travel or for petty cash purposes Other loans and advances to employees 1333 Loans to First Nations and Northern Territories First Nations in British Columbia Indian Affairs and Northern Development (Department of) Native claimants Indian Affairs and Northern Development (Department of) Indian economic development Indian Affairs and Northern Development (Department of) Inuit loan fund Indian Affairs and Northern Development (Department of) Council for Yukon Indians Indian Affairs and Northern Development (Department of) 1334 Other loans made by departments Canadian secured credit facility program Construction of exhibition buildings Agriculture and Agri-Food (Department of) Immigration loans for transportation and assistance Description:This account serves to record the amounts pursuant to section 119 of the Immigration Act that authorizes the making of loans to immigrants and other such classes of persons. The total amount authorized to be outstanding at any time is $110,000, Citizenship and Immigration (Department of) Page 22 of 115

23 13345 Enterprise development loans Industry (Department of) Hibernia development project Natural Resources (Department of) Assistance loans made by Atlantic Canada Opportunities Agency Atlantic Canada Opportunities Agency Nordion International Inc Natural Resources (Department of) Unamortized discounts for loans made by departments (concessionary loans) 1335 Other advances and subsidies Provincial workers compensation boards Employment and Social Development (Department of) Canadian commercial banks Canadian Forces housing National Defence (Department of) Confederation Bridge Public Works and Government Services (Department of) St. John Harbour Bridge Transport (Department of) Veterans Land Act Fund Veterans Affairs (Department of) Page 23 of 115

24 13357 Pilot training program - MILIT-AIR Inc National Defence (Department of) Unamortized discount for other advances and subsidies (concessionary loans) 1336 Loans and advances to consolidated specified purpose accounts Credit side of these accounts are in 2541 series Interest bearing loans to employment insurance account Employment and Social Development (Department of) Advances to crop reinsurance fund Agriculture and Agri-Food (Department of) Advances to agricultural commodities stabilization accounts Agriculture and Agri-Food (Department of) 1337 Loans and advances on expired loan guarantees Loans and advances on expired loan guarantees Allowance for doubtful loans 1338 Loans and advances on transfer (including repayable contributions) Loans Unamortized discount Allowance for doubtful loans and advances 1339 Other loans, investments and advances Loans and advances to individuals other than employees Goods and services tax (GST) (including harmonized sales tax - HST) refundable advance account These accounts will be used by departments; the amounts in these accounts will be transferred on consolidation in the CFMRS to FRA They should be cleared to CCRA by I.S. prior to March31 of each year Canada student loans (direct loans) Employment and Social Development (Department of) Page 24 of 115

25 13394 Amounts subrogated under the Canada Student Loans Act and the Canada Student Financial Assistance Act Employment and Social Development (Department of) Apprentice loans (direct loans) Employment and Social Development (Department of) Quebec Sales Tax (QST) Refundable Advance Account Unamortized discount - Other loans, investments and advances Unamortized discount on Canada student loans risk shared loans Employment and Social Development (Department of) Miscellaneous loans, investments and advances Description:This account is only to be used where no other asset financial reporting account adequately characterizes the transaction. 134 Allowance for valuation Not to be used by departments until the responsibility for the allowances for valuation is transfered to departments Allowance for valuation for loans to Crown corporations Allowance for loans to enterprise Crown corporations Treasury Board Secretariat Canada Mortgage and Housing Corporation (Crown Corporation) Allowance for loans to consolidated Crown corporations Treasury Board Secretariat 1342 Allowances for valuation for loans, investments and advances to other governments and organizations Allowances, provincial and territorial governments for regional and industrial development Allowances, provincial and territorial governments for other purposes Allowance, national governments, including developing countries Allowances, international organizations Allowances, other organizations 1343 Allowances for valuation for other loans, investments and advances Allowances for loans and accountable advances for employees Page 25 of 115

26 13433 Allowances, loans to First Nations and Northern Territories Allowances, other loans made by departments Allowances, other advances and subsidies Allowances, loans and advances on expired loan guarantees Allowances for loans and advances on transfers (incl. repayable contributions) Allowances, other loans, investments and advances 1349 Allowance for valuation for other loans Other loans Treasury Board Secretariat Allowance on Canada student loans (direct loans) Employment and Social Development (Department of) Allowance on amounts subrogated under the Canada Student Loans Act and the Canada Student Financial Assistance Act Employment and Social Development (Department of) Allowance on provincial tax collection overpayments - T3 Description:To record an allowance for recoverable overpayments made to the provinces from the Provincial Tax Collection Agreements as a result of an error in the accumulation of tax revenues from trusts (T3) Allowance for apprentice loans Employment and Social Development (Department of) 135 Loans, investments and advances by consolidated Crown corporations and other entities 1351 Loans and advances by consolidated Crown corporations and other entities Loans and advances by consolidated Crown corporations and other entities 1352 Investments by consolidated Crown corporations and other entities Investments by consolidated Crown corporations and other entities 14 Prepaid expenses and deferred charges 141 Prepaid expenses 1411 Prepaid expenses Prepaid expenses Page 26 of 115

27 142 Deferred charges 1421 Deferred charges on unmatured debt Unamortized discounts on Treasury bills Unamortized discounts on Canada bills Unamortized discounts and premiums on marketable bonds Unamortized commissions on Canada Savings Bonds Unamortized discounts and premiums on Real Return Bonds Unamortized discounts and premiums on foreign bonds 1429 Other deferred charges Other deferred charges 15 Inventories 151 Regular inventories 1511 Inventories held for consumption Inventories held for consumption All inventories held for future program outputs and/or further processing. Inventories held for resale are to be included in the FRA group Work in Progress - Other government department (OGD) Public Works and Government Services (Department of) 1512 Inventories for resale Inventories for resale Page 27 of 115

28 15121 Work in progress - External 16 Capital assets Public Works and Government Services (Department of) 161 Tangible capital assets 1611 Land, buildings and works Land Buildings Works and infrastructure 1612 Machinery and equipment Machinery and equipment Computer hardware Computer purchased and developed software Arms and weapons for defence Environment (Department of the) National Defence (Department of) Royal Canadian Mounted Police Correctional Service of Canada Fisheries and Oceans (Department of) Parks Canada Agency Canada Revenue Agency Other equipment (including furniture) 1613 Vehicles Ships and boats Aircraft Motor vehicles (non-military) Military vehicles National Defence (Department of) Royal Canadian Mounted Police Other vehicles 1614 Leasehold improvements Leasehold improvements, including initial procurement of furniture and fixtures Leasehold improvements, including initial procurement of furniture and fixtures, on properties where custodian is another government department Page 28 of 115

29 162 Accumulated amortization on tangible capital assets The breakdown for accumulated amortization must fit into the breakdown required in the Policy on the Capitalization of Assets. Separate accounts will be needed in departmental systems for each type of capital asset Accumulated amortization on buildings and works Accumulated amortization on buildings Accumulated amortization on works and infrastructure 1622 Accumulated amortization on machinery and equipment Accumulated amortization on machinery and equipment Accumulated amortization on computer hardware Accumulated amortization on computer purchased and developed software Accumulated amortization on arms and weapons for defence Environment (Department of the) National Defence (Department of) Royal Canadian Mounted Police Correctional Service of Canada Fisheries and Oceans (Department of) Parks Canada Agency Canada Revenue Agency Accumulated amortization on other equipment, including furniture 1623 Accumulated amortization on vehicles Accumulated amortization on ships and boats Accumulated amortization on aircraft Accumulated amortization on motor vehicles (non-military) Accumulated amortization on military vehicles National Defence (Department of) Royal Canadian Mounted Police Accumulated amortization on other vehicles 1624 Accumulated amortization on leasehold improvements Accumulated amortization on leasehold improvements, including initial procurement of furniture and fixtures Accumulated amortization on leasehold improvements, including initial procurement of furniture and fixtures, on properties where custodian is another government department 163 Work in progress on tangible capital assets Page 29 of 115

30 1631 Work in progress Assets under construction will be recorded as work in progress and on completion will be re-allocated to the capital asset account(s) that describes the asset Buildings in progress of construction Engineering works in progress of construction Work in progress for software Work in progress related to alternative financing arrangements (public private partnerships) National Defence (Department of) Office of the Communications Security Establishment Commissioner Public Works and Government Services (Department of) Office of Infrastructure of Canada Communications Security Establishment Other construction or work in progress 166 Tangible capital assets under capital leases Capital lease obligations for these assets are included in Land, buildings and works under capital leases Land under capital leases Buildings under capital leases Works and infrastructure under capital leases 1662 Machinery and equipment under capital leases Machinery and equipment under capital leases Computer hardware under capital leases Computer software under capital leases Arms and weapons under capital leases Environment (Department of the) National Defence (Department of) Royal Canadian Mounted Police Correctional Service of Canada Fisheries and Oceans (Department of) Parks Canada Agency Canada Revenue Agency Other equipment under capital leases 1663 Vehicles under capital leases Ships and boats under capital leases Page 30 of 115

31 16632 Aircraft under capital leases Motor vehicle (non-military) under capital leases Military vehicles under capital leases National Defence (Department of) Royal Canadian Mounted Police Other vehicles under capital leases 167 Accumulated amortization on tangible capital assets under capital leases 1671 Accumulated amortization on buildings and works under capital leases Accumulated amortization on buildings under capital leases Accumulated amortization on works and infrastructure under capital leases 1672 Accumulated amortization on machinery and equipment under capital leases Accumulated amortization on machinery and equipment under capital leases Accumulated amortization on computer hardware under capital leases Accumulated amortization on computer software under capital leases Accumulated amortization on arms and weapons under capital leases Environment (Department of the) National Defence (Department of) Royal Canadian Mounted Police Correctional Service of Canada Fisheries and Oceans (Department of) Parks Canada Agency Canada Revenue Agency Accumulated amortization on other equipment under capital leases 1673 Accumulated amortization on vehicles under capital leases Accumulated amortization on ships and boats under capital leases Accumulated amortization on aircraft under capital leases Accumulated amortization on motor vehicles (non-military) under capital leases Accumulated amortization on military vehicles under capital leases National Defence (Department of) Royal Canadian Mounted Police Accumulated amortization on other vehicles under capital leases 168 Work in progress on tangible capital assets under capital lease Page 31 of 115

32 1681 Work in progress under capital lease Assets under construction will be recorded as work in progress and on completion will be re-allocated to the capital asset account(s) that describes the asset Buildings under capital leases in progress of construction Engineering work under capital leases in progress of construction Work in progress for software under capital leases Other construction or work in progress under capital leases 17 Future benefit assets 171 Future pension benefit assets 1711 Consolidated Crown corporations' future pension benefit assets Consolidated Crown corporations' funded pension assets Page 32 of 115

33 2 Liabilities 21 Current liabilities 211 Accounts payable 2111 Accounts payable regular Accounts payable ongoing Accrued salaries and wages Accrued liabilities Accrued liabilities including payables which can be charged against the appropriation as per the PAYE policy. It excludes salary accruals that should be recorded using FRA Year end accrual-pending Budget Implementation Act Accrued interest payable on regular (trade) payables Other payables 2112 Unpaid payroll deductions Income taxes payable (to Government of Canada) Canada pension plan (CPP) payable Employment insurance (EI) payable Superannuation deducted Deductions include those for Supplementary Death Benefits Retirement compensation accounts deducted Other deductions payable to the Government of Canada Deductions payable to outside parties Departmental paylist deductions Other unpaid payroll deductions 2113 Accounts payable interdepartmental Other government departments (OGD) - Accounts payable Description:An account which records amounts owing to an OGD for the sale of goods and/or services rendered but the Interdepartmental Settlement (IS) has not been initiated. Month-end and year-end payables will be recorded using this Financial Reporting Account (FRA). It is comparable to the intercompany accounts payable in the private sector and will need to be eliminated by the Receiver General at a government-wide level for the purposes of consolidation. Its asset counterpart is the FRA Other government department (OGD) - Accounts receivable. Note: This account should not be used as a suspense account for IS processing. Please refer to FRA for this purpose. Page 33 of 115

34 Reference: Financial Information Strategy Accounting Manual "I" indicator to be used with this account except for opening balance Goods and services tax (GST) (including harmonized sales tax - HST) payable to Canada Revenue Agency (CRA) GST payable to CCRA will be recorded in these accounts by departments Interdepartmental settlement (IS) debits in transit to the Receiver General (for debtor initiated IS) "I" indicator to be used with this account except for opening balance Quebec sales tax (QST) payable to government departments Public Works and Government Services (Department of) 2114 Notes payable Notes payable to International Development Association Notes payable to development banks Foreign Affairs, Trade and Development (Department of) Notes payable to international financial institutions Foreign Affairs, Trade and Development (Department of) Notes payable to other international organizations and banks 2115 Other accounts payable Provincial sales tax, excluding harmonized sales tax (HST) Consolidated Crown corporations and other entities Contractor's holdback Accrued interest payable on capital leases Page 34 of 115

35 21155 Amounts owing to banks under direct financing arrangements pursuant to the Canada Student Financial Assistance Act (CSFA) Employment and Social Development (Department of) Account payable to other levels of government (contra asset) Revaluation of foreign currency forward contract Other accounts payable Description:This account is only to be used where no other liability financial reporting account adequately characterizes the transaction Accounts payable by Canada Revenue Agency (CRA) - Tax revenue Personal and non-residents tax payable account Description:Represents amounts payable by Canada Revenue Agency (CRA) to taxpayers for personal income tax, trust income tax, source deductions and non-resident taxes. It includes amounts payable as a result of tax assessed and amounts payable estimated by CRA which have not yet been assessed Canada Border Services Agency - (Administered Activities) Corporate income taxes payable Description:Represents amounts payable by CRA to taxpayers for corporate income tax. It includes amounts payable as a result of tax assessed and amounts payable estimated by CRA which have not yet been assessed Goods and services tax (GST) Page 35 of 115

36 21164 Accounts payable provincial sales tax Canada Border Services Agency - (Administered Activities) Canada Border Services Agency Accounts payable Nova Scotia Worker Compensation Accounts payable to the Ministry of Revenue Quebec (MRQ) by Canada Revenue Agency (CRA) Description:Represents amounts payable by the Canada Revenue Agency (CRA) to the Ministry of Revenue Québec (MRQ) for taxes withheld at source by CRA from employees living in Québec but working outside Québec. It also includes amounts due to CRA from MRQ for taxes withheld at source by MRQ from employees living outside Québec but working in Québec. This account also includes the amount payable by CRA to MRQ for goods and services tax (GST) refund/rebate cheques issued by MRQ that have not been cashed by the taxpayer as CRA refunds MRQ only when the cheques were cashed by the taxpayer Accounts payable to provinces - Other taxes Canada Border Services Agency - (Administered Activities) Other tax revenues payable Canada Border Services Agency - (Administered Activities) Canada Border Services Agency 2117 Accounts payable - Tax revenue - Interdepartmental allocations Canada pension plan premiums payable to the Department of Social Development Employment insurance contributions payable to Human Resources and Skills Development (HRSD) Page 36 of 115

37 21173 Old age security overpayments payable to the Department of Social Development T1 (Individual) Provincial and Territorial Tax Collections Payable to Finance Description:Under the Federal-Provincial Fiscal Arrangements Act, the Government of Canada is empowered to enter into agreements with provincial and territorial governments, to collect income taxes on their behalf, and to make payments to them with respect to such taxes. The Government of Canada entered into agreements with provinces and territories (excluding Quebec) to collect individual and corporation income tax through Canada Revenue Agency (CRA). In turn, CRA transfers this money to the Department of Finance who will make the payment to the provinces and territories in equal monthly instalments. This account is used by CRA to pay to the Department of Finance the individual income tax collected. The Financial Reporting Account (FRA) is used for the corporate tax collected Provincial Benefit Programs Payable to Canada Revenue Agency (CRA) Harmonized Sales Tax (HST) Payable to Finance (used by Canada Revenue Agency - CRA) Canada Border Services Agency - (Administered Activities) T2 (Corporate) Provincial and Territorial Tax Collections Payable to Finance Description:Under the Federal-Provincial Fiscal Arrangements Act, the Government of Canada is empowered to enter into agreements with provincial and territorial governments to collect income taxes on their behalf and to make payments to them with respect to such taxes. The Government of Canada entered into agreements with provinces and territories (excluding Quebec) to collect individual and corporation income tax through Canada Revenue Agency (CRA). In turn CRA transfers this money to the Department of Finance who will make the payment to the provinces and territories in equal monthly instalments. This account is used by CRA to pay to the Department of Finance the corporate income tax collected. The Financial Reporting Account (FRA) is used for the individual tax collected. Page 37 of 115

38 21179 Other Payables Canada Border Services Agency - (Administered Activities) Canada Border Services Agency 212 Interest and Matured Debt 2121 Matured Debt Marketable Bonds Canada Savings Bonds Treasury Bills Matured Debt in Foreign Currencies 2122 Interest Due on Unmatured Debt Interest Due Compound Interest on Canada Savings Bonds Interest Due on Coupons 2123 Interest Accrued on Unmatured Debt Interest Accrued on Marketable Bonds Page 38 of 115

39 21232 Interest Accrued on Canada Savings Bonds Interest Accrued on Special Non-Marketable Bonds Issued to Canada Pension Plan (CPP) Investment Fund Interest Accrued on Unmatured Debt in Foreign Funds Interest Accrued on Other Liabilities Interest Accrued for Promissory Notes Interest Accrued for Medical Equipment Trust 213 Current Portion of Long-Term Debt 2131 Unmatured Debt in Canadian Currency Marketable Bonds Canada Savings Bonds Treasury Bills 2132 Unmatured Debt in Foreign Currency Marketable Bonds 214 Allowances Page 39 of 115

40 2141 Allowance for Employee Benefits Accounting requirements to be done by departments unless otherwise specified for an individual account Allowance for Maternity/Parental Leave Allowance for Vacation Pay Allowance for Termination Benefits - Work Force Adjustment Allowance for Retroactive Salaries Allowance for time-off in lieu Allowance for severance benefits - Departments Allowance for Termination Benefits - Departments Allowance for Other Employee Benefits Consolidated Crown Corporations and Other Entities Allowance for Sick Leave Benefit Plan - Departments Canada Revenue Agency 2142 Allowance for Borrowings of Crown Corporations Total Borrowings of Agent Enterprise Crown Corporations Borrowings of Agent Enterprise Crown Corporations Expected to be Repaid Total Borrowings of Consolidated Crown Corporations Page 40 of 115