State the total market value of the voting stock held by non-affiliates of the registrant. Among the 48 top performing Philippine PLCs Overall and of the 30 in the Top 5 Philippine PLCs by sector, FEU was the only educational institution. It is one of only 13 Philippine universities that are members of the ASEAN University Network - Quality Assurance (AUN-QA).
Validation of this institutional effort includes CHED's citations of (a) the teacher training programs of the IE as a Center of Excellence and (b) the Bachelor of Science in Business Administration program of the IABF as a Center of Development. Almost all the academic programs on the Manila campus are accredited by the PACUCOA. Far Eastern University is a member of the ASEAN University Network ‒ Quality Assurance (AUN-QA), the International Center of Excellence in Tourism and Hospitality Education (THE-ICE), and the Association to Advance Collegiate Schools of Business (AACSB).
A detailed description of the various levels of program accreditation can be found in the 2005 CMO Series 1. Since the business core school is located in the university belt, the competitors are prestigious colleges and universities within the specified area.
EAST ASIA COMPUTER CENTER, INC. (EACCI)
For higher education, FEU Diliman is working to become a professional institution recognized for the business and information technology fusion of its academic programs.
FEU ALABANG
FAR EASTERN COLLEGE SILANG, INC
FEU HIGH SCHOOL, INC
The same year in December, FEU High School's Sarimanok Dance Troupe qualified for the final round of the Woobie's Street Dance Competition at the World Trade Center, Pasay City. In addition to participating in external events, FEU HS clubs and organizations also organize events and competitions for other schools, such as the Cinemorayta Film Festival. This film festival is a program that provides an opportunity for FEU High School students from different FEU Basic Education units to showcase their talents, skills and interest in filmmaking.
Last 2019, the event was able to screen eight (8) films directed and produced by FEU High School students.
ROOSEVELT COLLEGE, INC
EDUSTRIA, INC
The school will offer a unique curriculum in the Academic Track in three areas: Science, Technology and Engineering (STEM); Accounting, Business and Management (ABM); and the General Academic Beach (GAS).
FERN REALTY CORPORATION
All of the Company's working capital for its existing operation for fiscal year June 1, 2019 through May 31, 2020 was generated internally. The BOT has overall responsibility for establishing and overseeing the Group's risk management framework. It has a risk management committee headed by an independent trustee who is responsible for developing and monitoring the Group's policies, which cover risk management areas.
Management is responsible for monitoring compliance with the Group's risk management policies and procedures and for reviewing the adequacy of these policies in relation to the risks faced by the Group. The group does not engage in trading in financial assets for speculative purposes, nor does it write options. The most significant financial risks to which the group is exposed are described in note 4 to the consolidated financial statements (on page 41).
Portion of 2nd floor (790 sq. meters) of a five (5) storey building made of concrete materials located at P. Nursing Building Eight (8) storey building made of concrete materials located at escalation annual FEU Manila Campus, Nicanor Reyest St . , Manila.
Legal Proceedings
Submission of Matters to a Vote of Security Holders
OPERATIONAL AND FINANCIAL INFORMATION
Market for Registrants Common Equity and Related Stockholders Matters
FEU Stockholders as of May 31, 2020
Management’s Discussion and Analysis or Plan of Operation
- Test of Liquidity
- Test of Solvency
- Test of Profitability
- Product/Service Standards
- Market Acceptability
The Group's consolidated equity consists of equity attributable to owners of the parent company and NCI amounting to P7,556.5 million and P2,861.4 million respectively. The Group's results of operations continue to be positive as consolidated net profit after tax remained strong for the three years last fiscal year. During the year, the Group's operations remained buoyant with operating income amounting to P483.9 million, and other income amounting to P156.2 million.
The Group's operating income for the fiscal year ended May 31, 2020 was recorded at P771.9 million, a 16% improvement from last year. Liquidity refers to the Group's ability to pay its current short-term obligations when they are due. Solvency refers to the Group's ability to pay all its debts, regardless of whether these liabilities are current or long-term.
It also refers to the Group's ability to earn a reasonable amount of income in relation to its total investment. At the reporting date, certain economic factors affect the income and revenue from the Group's operations.
Financial Statements
Report of independent auditors to accompany supplementary information required by the Securities and Exchange Commission, filed separately from the basic consolidated financial statements. Schedule B – Receivables from directors, officers, employees, related parties and principal shareholders (other than related parties). Schedule C - Receivables from related parties that are eliminated during the consolidation of financial statements.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
CONTROL AND COMPENSATION Item 9. Trustees and Executive Officers
Rosanna Esguerra-Salcedo, 56, Filipino: Treasurer, Far Eastern University, Inc
She graduated with honors in accounting from the University of the East. Examiner, Central Bank of the Philippines; Head of Internal Audit, Far Eastern University; Chief Accountant and Budget Director, Far Eastern University; Compliance Officer, Far Eastern University; and Professor of Accounting at Far Eastern University. Nagal graduated from the Far Eastern University with a degree in commerce, majoring in accounting.
Auckland, New Zealand; Compliance Officer, Far Eastern University (September 2015 to January 2017); and Risk Management Officer, Far Eastern University (September 2015 to October 2018). Business Administration, majoring in Accounting from the Philippine School of Business Administration, Quezon City Campus in 1987 and earned his Masters in Management from the Asian Institute of Management in 2004. The members of the Board of Trustees of the Corporation are elected at the Annual Shareholders' Meeting. Meeting to hold office until the next succeeding annual meeting, or until such time as their respective successors are elected and qualified.
Officers are appointed or elected annually by the Board of Directors at its organizational meeting, and each holds office until the next meeting of the Board in the following year or until a successor is elected, appointed and qualified. PACU Seminar: "The Avalanche is Here: Addressing the Challenges in Higher Education" (participated as Key Speaker).
Executive Compensation
Members of the corporation's Board of Directors are receiving gas allowances for regular board/special board meetings they attend. They are also entitled to fiscal year-end bonuses at the Board's discretion, while corporate officers are entitled to base salaries, fringe benefits, and bonuses at the Board's discretion. No information is available regarding all outstanding warrants or options held by members of the Board of Directors and corporate officers.
Security Ownership of Certain Beneficial Owners and Management
The group's related parties include related parties under joint management, senior employees and others as described in note 25 to the consolidated financial statements (on page 91).
SCHEDULES AND OTHER REPORTS
SEC Form 17-C and Quarterly Report
- CORPORATE INFORMATION 1 Organization and Operations
- Approval of the Financial Statements
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
- Basis of Preparation of Financial Statements
- Adoption of New and Amended PFRS
- Separate Financial Statements and Investments in Subsidiaries and an Associate
- Financial Assets
- Prepayments and Other Assets
- Investment Properties
- Financial Liabilities
- Offsetting Financial Instruments
- Provisions and Contingencies
- Foreign Currency Transactions and Translation
- Employee Benefits
- Income Taxes
- Related Party Transactions and Relationships
- Equity
- Segment Reporting
- Events After the End of the Reporting Period
- SIGNIFICANT ACCOUNTING JUDGMENTS AND ESTIMATES
- Critical Management Judgments in Applying Accounting Policies
- Key Sources of Estimation Uncertainty
- RISK MANAGEMENT OBJECTIVES AND POLICIES
- Liquidity Risk
- CATEGORIES AND OFFSETTING OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
- Carrying Amounts and Fair Values by Category
- FAIR VALUE MEASUREMENT AND DISCLOSURES 1 Fair Value Hierarchy
- Financial Instruments Measurement at Fair Value
- Fair Value Measurement for Non-financial Assets
- CASH AND CASH EQUIVALENTS
- RECEIVABLES - Net
- FINANCIAL ASSETS
- Financial Assets at FVTPL
- Financial Assets at FVOCI (Classified as AFS Financial Assets in 2018) As of May 31, the University’s financial assets at FVOCI are classified in the statements of
- Investment Securities at Amortized Cost (Classified as HTM Investments in 2018)
- CROSS-CURRENCY SWAPS
- PREPAYMENTS AND OTHER CURRENT ASSETS The breakdown of this account is as follows
- Investment in RCI
- Investment in FEU High
- Investment in Edustria
- Investment in an Associate
- LEASES
- Lease Payments Not Recognized as Liabilities
- Additional Profit or Loss and Cash Flow Information
- EDUCATIONAL REVENUES
- Unearned Tuition Fees
- Tuition Fee Rebates
- OPERATING EXPENSES
- FINANCE INCOME AND FINANCE COSTS 1 Finance Income
- Finance Costs
- EMPLOYEES’ HEALTH, WELFARE AND RETIREMENT FUND 1 Salaries and Employee Benefits Expense
- Post-employment Defined Benefit (a) Characteristics of the Defined Benefit Plan
- INCOME TAXES
- Dividend Income
- Lease of Land, Various Buildings and Facilities
- Lease of Certain Building Floor to FRC
- Lease of Campus Premises to FECSI
- Sub-lease of Buildings to FEU High
- Lease of Certain Buildings to EAEF and EACCI
- Lease of Facilities from EACCI
- Lease of Campus Premises to FEUAI
- Interest-bearing Loan from FEU High, FEU HWFRP and EACCI
The financial statements of the University have been prepared in accordance with Philippine Financial Reporting Standards (PFRS). Items included in the university's financial statements are measured in its functional currency. The functional currency is the currency of the primary economic environment in which the University operates.
Financial assets are recognized when the university becomes a party to the contractual terms of the financial instrument. Advances and other current assets of the university include inventory, such as books and merchandise. The university determines whether an arrangement is or contains a lease based on the arrangement's content.
The University has established policies and procedures regarding related party transactions in accordance with the regulations of the SEC. In the University's separate financial statements, however, there are no operating segments that are organized and managed separately according to the nature of the services provided. Any end-of-year event that provides additional information about the University's financial position at the end of the reporting period (adjustment event) is reflected in the financial statements.
The BOT has overall responsibility for establishing and overseeing the University's risk management framework. The university's exposure to price risk stems from its investments in equity securities, which are classified in the statement of financial position as part of the accounts Financial assets according to FVOCI and Financial assets according to FVTPL. A description of the University's risk management objectives and policies for financial instruments is given in Note 4.
An analysis of the movements in the carrying amount of the University's investment securities at amortized cost for the years ending May and 2018 is presented below. Related accrued interest is presented as part of the Accounts Receivable account in the statements of financial position (see Note 8). The table below describes the nature of the University's leasing activities by type of ROUA recognized in the 2020 statement of financial position.
These are recognized as revenue as soon as the University's performance obligation has been met. The university has claimed itemized income tax deductions in all years presented.
