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The consolidated total assets of the group increased by P980.51 million to P10,071.39 million as of the reporting date. The consolidated total assets of the group increased by P980.51 million due to the following significant movements in the accounts:. Cash and cash equivalents increased by P254.79 million mainly due to the collection of tuition fees at FEU schools for the start of the second semester/trimester.

Income tax payable

Deferred tax liabilities

Other non-current liabilities

Revaluation reserves

Retained Earnings

Non-controlling Interest (NCI)

Tuition fees – net

Other school fees

Rental income

Other operating income

Finance income – net

Other income (charges) – net

Research expenses increased by P0.87 million due to the implementation of various research activities and initiatives of the university, which are mainly handled by FEU's University Research Center. Insurance expenses decreased by P4.57 million due to lower amount of property insurance incurred by FEU and FRC. Security services increased by P3.90 million primarily due to EACCI's increase in operations combined with the usual rate increase coming from FEU and FECSI.

Test of Liquidity

Test of Solvency

Test of Profitability

Product Standard

PACUCOA granted candidate status for the Bachelor of Science in Architecture program from September 2015 to September 2018. Bachelor of Business Administration was awarded by the Commission on Higher Education (CHED) Center for Development. The Philippine Accreditation Association of Schools, Colleges and Universities (PAASCU) has granted Level II accredited status to the Bachelor of Science in Information Technology (BSIT) and Bachelor of Science in Computer Science programs by May 2020, while Level I accredited status is granted graduates of the Computer Engineer Program and the Bachelor of Civil Engineering by May 2018.

Market Acceptability

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Items included in the Group's consolidated financial statements are measured using its functional currency (see note 2.15). The functional currency is the currency of the primary economic environment in which the Group operates. All subsequent changes in the equity portion of the participation are recognized in the carrying amount of the Group's investment.

Negative goodwill, being the positive difference between the Group's interest in the net fair value of acquired net identifiable assets and the acquisition price, is charged directly to the income statement. Financial assets are recognized when the Group becomes a party to the contractual terms of the financial instrument. Any gain or loss arising from derecognition of the asset (calculated as the difference between the net sales proceeds and the carrying amount of the asset) is recognized in the income statement in the year in which the asset is derecognised.

The difference between the carrying amount of the derecognized financial liability and the consideration paid or payable is recognized in the income statement. Leases that do not transfer substantially all the risks and rewards of ownership of the asset to the Group are classified as operating leases. The Group determines whether an agreement is or contains a lease based on the content of the agreement.

Compensated absence is recognized for the number of paid holidays (including holiday entitlements) remaining at the end of the reporting period. These are included in the Trade and other payables account in the consolidated balance sheet at the undiscounted amount that the Group expects to pay as a result of the unused entitlement. Any post-year-end event that provides additional information about the Group's financial position at the end of the reporting period (adjusting event) is reflected in the consolidated financial statements.

USE OF JUDGMENTS AND ESTIMATES

Each of these operating segments is managed separately as each of these service lines requires different technology and other resources and marketing approaches. The measurement policies that the Group uses for segment reporting under IFRS 8 are the same as those used in its consolidated financial statements. Additionally, corporate assets that are not directly attributable to the business activities of any operating segment are not allocated to a segment.

There have been no changes compared to previous periods in the measurement methods used to calculate the reported segment result.

RISK MANAGEMENT OBJECTIVES AND POLICIES

To mitigate the Group's exposure to foreign currency risk associated with PVF debt securities denominated in foreign currencies, management entered into a cross-currency swap agreement. The Group's interest rate risk management policy is to minimize interest rate cash flow risk exposures to changes in interest rates. The Group's exposure to interest rate risk arises from financial instruments that are subject to variable interest rates.

The Group's exposure to price risk arises from its investments in equity securities, which are classified as part of PIF Financial Assets in the consolidated statements of financial position. In accordance with the Group's policies, no specific hedging activities are undertaken in relation to these investments. Investments are continuously monitored to ensure that returns on these equity instruments are used or reinvested in a timely manner in favor of the Group.

The Group's exposure to credit risk on its receivables was primarily related to the inability of debtors to pay and students to settle in full the unpaid balance of tuition fees and other charges due to the Group based on installment payment arrangements. The group's exposure to credit risk on its other receivables from debtors and related parties is managed by setting limits and closely monitoring said accounts. The group's management assesses that all financial assets are not impaired and of good credit quality, except for those that are specifically impaired at the end of the accounting period.

The Group classifies receivables for tuition and other fees from students based on the number of semesters the receivables have been outstanding.

CATEGORIES AND OFFSETTING OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES

FAIR VALUE MEASUREMENT AND DISCLOSURES 1 Fair Value Hierarchy

The level within which the asset or liability is classified is determined based on the lowest level of significant inputs to the fair value measurement. If all significant inputs required to determine the fair value of an instrument are observable, the instrument is included in Level 2. The table below shows the fair value hierarchy of the Group's classes of financial assets and financial liabilities measured at fair value in the consolidated statements of financial position on a recurring basis from 31 December and 31 March 2015.

NAVPU is calculated by dividing the fund's total fair value by the total number of units at the end of each reporting period. The fair value of the group's debt securities, which consist of government and corporate bonds, is estimated with reference to the quoted purchase price in an active market at the end of the reporting period and is categorized in level 1. c) Derivatives. The fair values ​​of these non-financial assets were determined based on the following approaches: i) Fair value measurement for land.

Under this approach, when sales prices of comparable land in the immediate vicinity are used to value the subject property without price adjustment, fair value is included in Level 2. On the other hand, if the observed recent prices of the reference property have been adjusted for differences in key attributes , such as property size, zoning and accessibility, fair value is included in Level 3. The fair value of land at Level 3 was determined using an income approach, which is performed with values ​​derived using discounted cash flows. current model.

Under this approach, higher estimated costs used in the valuation will result in higher fair value of the properties.

SEGMENT INFORMATION 1 Business Segments

Below is a reconciliation of the Group's segment information with the key financial information presented in its consolidated financial statements (in thousands).

PROPERTY AND EQUIPMENT

A reconciliation of the carrying amount of property and equipment at the beginning and end of the nine months ended December 31, 2015 and the fiscal year ended March 31, 2015 are presented below. During the period, the University resumed the capitalization of borrowing costs, which was temporarily suspended on March 31, 2015. Therefore, the carrying amount of property and equipment at December 31, 2015 includes capitalized borrowing costs incurred by the bank loan obtained during the period.

The purpose of the loan was to finance the construction of school facilities that form part of the qualifying asset owned by FEU Alabang, Inc. must be used. During the financial year ending 31 March 2015, the construction of EACCI's school building was fully completed. The portion of the said building given by EACCI to East Asia Educational Foundation, Inc. EAEF) is being let out, has been transferred to Investment Property account.

Also during the fiscal year ended March 31, 2015, certain parcels of land, buildings and improvements and construction in progress recorded under the Investment Property Account were reclassified to Property and Equipment Account due to change in their intended use.

INVESTMENT PROPERTY

INTEREST-BEARING LOANS

During the period, the university's BOT also approved the authorization to avail of a financial credit stay of up to P1.0 billion to be used for the development of facilities at the FEU Alabang campus. The said loan is subject to such terms and conditions as the local bank may prescribe (see note 9).

DIVIDENDS

EQUITY

This account also includes the common stock of the university held and acquired by FRC for an amount of P30.1 million as of December 31 and March 31, 2015. The changes in the market value of these shares, which were recognized by FRC as fair value gains or losses, were eliminated. fully and not included in the consolidated financial statements. A portion of the university's retained earnings is limited for dividend declaration to the cost of treasury shares, excluding the amount acquired and held by FRC, as this is considered a cross-investment as of the end of the reporting period.

Retained earnings are limited by law to an amount equal to the cost of the university's treasury shares of P3.7 million. There has been no change in the appropriation of retained earnings for the nine months ended December 31, 2015. The changes in the appropriation of retained earnings for the year ended March 31, 2015 (audited) are shown below.

The appropriations, which are expected to be expended within one year of the end of the relevant reporting period, refer to funds earmarked for facility expansion in the amount of P35.8 million. The university has canceled previous appropriations for the purchase of equipment and improvements in amounting to P56.7 million, as the planned purchase of fixed assets was completed in the fiscal year ended March 31, 2015.

EARNINGS PER SHARE

COMMITMENTS AND CONTINGENCIES

CAPITAL MANAGEMENT OBJECTIVES, POLICIES AND PROCEDURES The Group aims to provide returns on equity to shareholders while managing operational

SEASONAL FLUCTUATIONS

Referensi

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