Since I have let the first panel opened by default. I have added minus-circle for opened panel and plus-circle for rest of all closed panel. but, the minus-circle didn't work on default opened panel. i want to show minus-circle for opened panel & plus-circle for rest of all closed panel.
jQuery(function($) {
        var $active = $('#accordion .panel-collapse.in').prev().find('a').addClass('actives');
        $active.find('a').append('<span class="fa fa-minus-circle pull-right"></span>');
        $('#accordion .panel-heading').not($active).find('a').prepend('<span class="fa fa-plus-circle pull-right"></span>');
        $('#accordion').on('show.bs.collapse', function(e) {
            $('#accordion .panel-heading.actives').removeClass('actives').find('.fa').toggleClass('fa-plus-circle fa-minus-circle');
            $(e.target).prev().find('a').addClass('actives').find('.fa').toggleClass('fa-plus-circle fa-minus-circle');
        });
        $('#accordion').on('hide.bs.collapse', function(e) {
            $(e.target).prev().find('a').removeClass('actives').find('.fa').removeClass('fa-minus-circle').addClass('fa-plus-circle');
        });
    });
.new-buying-requirements{
  background-color: #F7F7F7;
}
.panel-group .panel {
    border-radius: 0;
  }
.new-requirements-panel-title {
    font-size: 2.28em;
    font-family: 'montserrat';
  }
.panel-heading{
  padding: 0px;
}
  .panel-title > a {
    display: block;
    padding: 20px;
    text-decoration: none;
    background-color: #fff;
    color: #383F42;
  }
  .more-less {
    float: right;
  }
  .panel-default > .panel-heading + .panel-collapse > .panel-body {
    border-top-color: #EEEEEE;
  }
  .actives{
    background-color: #1E6C97 !important;
    color: #fff !important;
  }
  .panel-group .panel+.panel{
    margin-top: 15px;
  }
  .new-requirements-panel-group {
    margin-bottom: 60px;
    margin-top: 60px;
}
.media-lft{
  padding-top: 5px;
  padding-right: 16px;
}
.media-lft>img{
  border: 1px solid #ccc;
}
.media-heading{
  color: #1E6C97;
}
.buying-requirement-media-body>p{
  margin-bottom: 0px;
  font-family: 'montserrat';
  font-size: 1.28em;
}
<link rel="stylesheet" href="https://maxcdn.bootstrapcdn.com/font-awesome/4.7.0/css/font-awesome.min.css">
<link rel="stylesheet" href="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.7/css/bootstrap.min.css">
<script src="https://ajax.googleapis.com/ajax/libs/jquery/3.2.0/jquery.min.js"></script>
<script src="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.7/js/bootstrap.min.js"></script>
<div class="new-buying-requirements">
 <div class="container-fluid">
  <div class="row">
   <div class="col-sm-12">
    <div aria-multiselectable="true" class="panel-group new-requirements-panel-group" id="accordion" role="tablist">
     <div class="panel panel-default new-requirements-panel">
      <div class="panel-heading new-requirements-panel-heading" id="headingOne" role="tab">
       <h4 class="panel-title new-requirements-panel-title"><a aria-controls="collapseOne" aria-expanded="true" data-parent="#accordion" data-toggle="collapse" href="#collapseOne" role="button">Requirements</a></h4>
      </div>
      <div aria-labelledby="headingOne" class="panel-collapse collapse in" id="collapseOne" role="tabpanel">
       <div class="panel-body new-requirements-panel-body">
        
        <div class="media">
         <div class="media-left media-lft"><img align="middle" class="media-object" src="https://cdn.paperindex.com/piimages/flags/United-Kingdom.jpg" style="width:45px; height: 30px;"></div>
         <div class="media-body buying-requirement-media-body">
          <p>A buyer from [Leeds], [UK]</p>
          <p>posted their [<a class="lnk" data-original-title="" href="#" title="">AKD Emulsions</a>] requirement inviting suppliers to submit quotations</p>
         </div>
        </div>
       </div>
      </div>
     </div>
     <div class="panel panel-default new-requirements-panel">
      <div class="panel-heading new-requirements-panel-heading" id="headingTwo" role="tab">
       <h4 class="panel-title new-requirements-panel-title"><a aria-controls="collapseTwo" aria-expanded="false" class="collapsed" data-parent="#accordion" data-toggle="collapse" href="#collapseTwo" role="button">Quotations</a></h4>
      </div>
      <div aria-labelledby="headingTwo" class="panel-collapse collapse" id="collapseTwo" role="tabpanel">
       <div class="panel-body new-requirements-panel-body">
        
        <div class="media">
         <div class="media-left media-lft"><img align="middle" class="media-object" src="https://cdn.paperindex.com/piimages/flags/United-Kingdom.jpg" style="width:45px; height: 30px;"></div>
         <div class="media-body buying-requirement-media-body">
          <p>A buyer from [UK]</p>
          <p>requested a quotation from [<a class="lnk" data-original-title="" href="#" title="">99Corporate Inc</a>] in [Beijing], [China]</p>
         </div>
        </div>
       </div>
      </div>
     </div>
     <div class="panel panel-default new-requirements-panel">
      <div class="panel-heading new-requirements-panel-heading" id="headingThree" role="tab">
       <h4 class="panel-title new-requirements-panel-title"><a aria-controls="collapseThree" aria-expanded="false" class="collapsed" data-parent="#accordion" data-toggle="collapse" href="#collapseThree" role="button">Supplier</a></h4>
      </div>
      <div aria-labelledby="headingThree" class="panel-collapse collapse" id="collapseThree" role="tabpanel">
       <div class="panel-body new-requirements-panel-body">
        <div class="media">
         <div class="media-left media-lft"><img align="middle" class="media-object" src="https://cdn.paperindex.com/memberlogos/1225_logo_beta.jpg" style="width:45px; height: 30px;"></div>
         <div class="media-body buying-requirement-media-body">
          <p>[<a class="lnk" data-original-title="" href="#" title="">VBX Ltd</a>] from [Indonesia] <img align="middle" height="15" src="https://cdn.paperindex.com/piimages/flags/Indonesia.jpg" width="20"></p>
         </div>
        </div>
        
         <div class="media-body buying-requirement-media-body">
          <p>[<a class="lnk" data-original-title="" href="#" title="">iPaper Inc</a>] from [UK] <img align="middle" height="15" src="https://cdn.paperindex.com/piimages/flags/United-Kingdom.jpg" width="20"></p>
         </div>
        </div>
       </div>
      </div>
     </div>
     <div class="panel panel-default new-requirements-panel">
      <div class="panel-heading new-requirements-panel-heading" id="headingFour" role="tab">
       <h4 class="panel-title new-requirements-panel-title"><a aria-controls="collapseFour" aria-expanded="false" class="collapsed" data-parent="#accordion" data-toggle="collapse" href="#collapseFour" role="button">Products</a></h4>
      </div>
      <div aria-labelledby="headingFour" class="panel-collapse collapse" id="collapseFour" role="tabpanel">
       <div class="panel-body new-requirements-panel-body">
        <div class="media">
         <div class="media-left media-lft"><img align="middle" class="media-object" src="https://cdn.paperindex.com/productimages/1075_22052007070008_pic.jpg" style="width:45px; height: 30px;"></div>
         <div class="media-body buying-requirement-media-body">
          <p>[<a data-original-title="" href="#" title="">Kraft Paper</a>] details were added by <a data-original-title="" href="#" title="">KBX Ltd</a> to their company profile</p>
         </div>
        </div>
        
        <div class="media">
         <div class="media-left media-lft"><img align="middle" class="media-object" src="https://cdn.paperindex.com/productimages/0_22112016080604_pic.jpg" style="width:45px; height: 30px;"></div>
         <div class="media-body buying-requirement-media-body">
          <p>[<a data-original-title="" href="#" title="">V-belt</a>] details were added by <a data-original-title="" href="#" title="">ABC Paper Pvt Ltd</a> to their company profilV-belte</p>
         </div>
        </div>
       </div>
      </div>
     </div>
    </div><!-- panel-group -->
   </div>
  </div>
 </div>
</div>