Securities registered in accordance with Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA. If so, state the name of such stock exchange and the classes of securities listed therein:. a) has filed all reports required to be filed by Section 17 of Rule 17.1 of the SRC and the SRC thereunder or Section 11 of Rule 11(a)-1 of the RSA and the RSA thereunder, and Sections 26 and 141 of of the Corporation Code of the Philippines during the preceding twelve (12) months (or for such shorter period as the registrant was required to file such reports). Indicate the aggregate market value of voting shares held by non-affiliates of the registrant.
Check whether the issuer has submitted all documents and reports required by Article 17 of the Code after the distribution of securities pursuant to a plan confirmed by a court or the Commission. If any of the following documents are incorporated by reference, briefly describe them and identify the part of SEC Form 17-A in which the document is incorporated:. Any questions about the data contained herein should be directed directly to the Corporate Information Officer of the disclosing party.
ANNUAL REPORT PURSUANT TO SECTION 17 OF THE SECURITIES CODE AND SECTION 141 OF THE COMPANY. All securities (common shares) are listed on the Philippine Stock Exchange, Inc. a) has filed reports required to be filed under Section I7 of the SRC and SRC Rule 17 thereunder and Sections 26 and 141 of the Corporation Code of the Philippines during the preceding 12 months (or in such shorter period that the registrant was required to file such reports);
BUSINESS AND GENERAL INFORMATION Item 1. Business
Legal Proceedings
Below is the list of the lawsuits involving the company that are being handled by Atty. None of the directors and officers of the Registrant or any of its subsidiaries or affiliates has been involved in the past five (5) years in any bankruptcy proceeding. Nor have they been convicted by final judgment in any criminal proceeding or subject to any order, judgment or decree of competent jurisdiction, permanent or temporary injunction barring, suspending or otherwise restricting their involvement in any business, securities, commodities or banking activities, nor found by any court or administrative body to have violated any securities or commodities law.
The Registrant or any of its subsidiaries or affiliates is not a party to any pending litigation in which any of their property is the subject.
Submission of Matters to a Vote of Security Holders
OPERATIONAL AND FINANCIAL INFORMATION
Market for Registrants Common Equity and Related Stockholders Matters DIVIDENDS DECLARED FOR THE FISCAL YEAR ENDED MARCH 31, 2014
- Test of Liquidity
- Current ratio measures the number of times that the current liabilities could be paid with the available current assets (Adequate: at least 5:1)
- Quick ratio measures the number of times that the current liabilities could be paid with the available quick assets (Adequate: at least 1:1)
- Test of Solvency
- Equity to asset ratio measures the amount of assets provided by the owner relative to the total assets of the company (Adequate: 50% or more)
- Test of Profitability
- Return on total assets measures how well management has used its assets under its control to generate income (Adequate: at least equal to the
- Return on owner’s equity measures how much was earned on the owners’
- Earnings per share measures the net income per share
- Product Standard
- Teaching performance in the University is constantly being monitored to maintain a satisfactory level of excellence. Various incentives are given to
- The Philippine Association of Colleges and Universities Commission on Accreditation (PACUCOA) has granted Certificates of Level III Re-
- Performance of FEU graduates in their respective Board Exams is generally better than the national passing rate with the following board placers
- Below is a schedule of the first semester enrollment for the past 5 years
- Below is a schedule of Entrance and Entrance Merit Scholars for the past 5 years
Total consolidated net assets consisted of P4,245.05 million equity attributable to the owners of the parent company and P481.30 million equity for the non-controlling interest. Equity attributable to owners of the parent company amounted to P5,158.54 million and was 7.20% higher than P4,811.87 million last year. The tax for this year was P100.27 million and therefore the net profit after tax was P655.25 million, of which P635.62 million was attributable to the owners of the parent company and the balance of P19.63 million to non-controlling interests. interest.
Net profit after tax was P741.47 million, of which P719.30 million was attributable to the owners of the parent company and the balance of P22.17 million to non-controlling interests. Net profit after tax was P890.86 million, of which P800.23 million was attributable to the owners of the parent company and the balance of P90.63 million to non-controlling interests. Net profit after tax was P902.82 million, of which P855.02 million was attributable to the owners of the parent company and the balance of P47.79 million to non-controlling interests.
The debt-to-asset ratio measures the amount of funds provided by creditors relative to the company's total assets. The capital-assets ratio measures the amount of funds provided by the owner relative to the company's total assets (respectively: 50% or more) relative to all the company's assets (respectively: 50% or more).
A. Liquidity
Solvency
- Debt to Equity ratio = Total liabilities Total Stockholder's Equity
- Equity to Asset ratio = Total Stockholder's Equity Total assets
Profitability
- The current economic condition may still affect the sales/revenues/income from operations
- There are no known events that would result in any default or acceleration of an obligation
- There are no known events that will trigger direct or contingent financial obligation that may be material to the company
- There are no material off-balance sheet transactions, arrangements, obligations (including contingent obligations), and other relationships of the company with
- The company does not foresee any cash flow or liquidity problem in the next 12 months
- There are no significant elements of income or loss from continuing operations
- There are no sales of Unregistered or Exempt Securities including Recent Issuance of Securities Constituting an Exempt Transaction
- Segment Reporting
There are no known events that will cause direct or contingent financial obligation that may be material to the company may be material to the company. There are no material off-balance sheet transactions, arrangements, obligations (including contingent obligations) and other relationships of the company with (including contingent obligations), and other relationships of the company with unconsolidated entities or other persons created during the reporting period. The company does not foresee any cash flow or liquidity problem in the next 12 months.
The second semester is usually 90% of the first semester enrollment, while the summer is the lowest at about 33%. A student's full load during the summer is 9 units versus 21 to 24 during the first and second semesters. Any increase in tuition fees usually takes effect in the first semester of the current school year.
Thus, old rates are followed in the summer semester, while new rates are used in the first and second semesters. Since the first quarter is from April to June, the resulting income for the first quarter is expected to be the lowest among the four quarters of the fiscal year.
Financial Statements
- Adoption of New and Amended PFRS
- Separate Financial Statements and Investments in Subsidiaries, an Associate and a Joint Venture
- Financial Assets
- Other Assets
- Property and Equipment
- Investment Property
- Financial Liabilities
- Offsetting Financial Instruments
- Provisions and Contingencies
- Revenue and Expense Recognition
- Leases
- Foreign Currency Transactions and Translation
- Impairment of Non-financial Assets
- Employee Benefits
- Deposits Payable
- Trust Funds
- Borrowing Costs
- Income Taxes
- Related Party Relationships and Transactions
- Equity
- Earnings Per Share
- Events After the End of the Reporting Period
- SIGNIFICANT ACCOUNTING JUDGMENTS AND ESTIMATES The preparation of the University’s financial statements in accordance with PFRS
- Critical Management Judgments in Applying Accounting Policies
- Key Sources of Estimation Uncertainty
- RISK MANAGEMENT OBJECTIVES AND POLICIES
- Market Risk (a) Foreign Currency Risk
- Credit Risk
- Liquidity Risk
- CATEGORIES AND OFFSETTING OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
- Carrying Amounts and Fair Values by Category
- Offsetting of Financial Assets and Financial Liabilities
- FAIR VALUE MEASUREMENT AND DISCLOSURES 1 Fair Value Hierarchy
- Financial Instruments Measurement at Fair Value
- Financial Instruments Measured at Amortized Cost for which Fair Value is Disclosed
- Fair Value Measurement for Non-financial Assets
- CASH AND CASH EQUIVALENTS
- RECEIVABLES
- CROSS-CURRENCY SWAP
- AVAILABLE-FOR-SALE FINANCIAL ASSETS
- OTHER CURRENT ASSETS
- INVESTMENTS IN SUBSIDIARIES, ASSOCIATE AND JOINT VENTURE This account consists of the following as of March 31
- INVESTMENT PROPERTIES
- PROPERTY AND EQUIPMENT
- TRADE AND OTHER PAYABLES This account consists of
- INTEREST-BEARING LOAN
- EDUCATIONAL REVENUES
- OPERATING EXPENSES
- FINANCE INCOME AND FINANCE COSTS 1 Finance Income
- Finance Costs
- MISCELLANEOUS INCOME – Net This consists of the following
- EMPLOYEES’ HEALTH, WELFARE AND RETIREMENT FUND (a) Characteristics of the Defined Benefit Plan
- INCOME TAXES
- RELATED PARTY TRANSACTIONS
- Interest-bearing Advances
- Noninterest-bearing Advances
- Lease of Manila Campus Premises from FRC
- Lease of Makati Campus Premises from FRC
- Lease of Certain Building Floor to FRC
- Lease of Campus Premises to FECSI
- Lease of Certain Buildings to EAEF
- Lease of Office Premises to ICF-CCE, Inc
- Management Services
- Sale of Transportation Equipment
- Key Management Personnel Compensation
- EQUITY
- Capital Stock
- Retained Earnings
- EARNINGS PER SHARE
- COMMITMENTS AND CONTINGENCIES
- Operating Lease Commitments – University as Lessee (a) Lease Agreement with FRC
- Legal Claims
- Others
- CAPITAL MANAGEMENT OBJECTIVES, POLICIES AND PROCEDURES The University aims to provide returns on equity to shareholders while managing
- SUPPLEMENTARY INFORMATION REQUIRED BY THE BUREAU OF INTERNAL REVENUE
- Requirements Under Revenue Regulations (RR) 15-2010
- Requirements Under RR 19-2011
- CORPORATE INFORMATION 1 Background of the University
- Other Corporate Information
- Approval for Issuance of Consolidated Financial Statements
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
- Basis of Preparation of the Consolidated Financial Statements
- Basis of Consolidation
- Business Combinations
- Financial Assets
- Real Estate Held-for-Sale
- Other Assets
- Property and Equipment
- Investment Property
- Financial Liabilities
- Offsetting Financial Instruments
- Provisions and Contingencies
- Revenue and Expense Recognition
- Leases
- Foreign Currency Transactions and Translation
- Impairment of Non-financial Assets
- Employee Benefits
- Deposits Payable
- Trust Funds
- Borrowing Costs
- Income Taxes
- Related Party Relationships and Transactions
- Equity
- Earnings Per Share
- Events After the End of the Reporting Period
- Segment Reporting
- SIGNIFICANT ACCOUNTING JUDGMENTS AND ESTIMATES
- Market Risk
- Financial Instruments Measured at Amortized Cost for which Fair Value is Disclosed
- Fair Value Measurement for Non-financial Assets a) Determining Fair Value of Investment Properties
- Business Segments
- Segment Assets and Liabilities
- Intersegment Transactions
- Analysis of Segment Information
- Reconciliation
- CASH AND CASH EQUIVALENTS
- TRADE AND OTHER RECEIVABLES This account is composed of the following
- CROSS-CURRENCY SWAP
- AVAILABLE-FOR-SALE FINANCIAL ASSETS
- REAL ESTATE HELD-FOR-SALE
- OTHER ASSETS – Net
- INVESTMENTS IN ASSOCIATE AND JOINT VENTURE This account consists of the following as of March 31
- PROPERTY AND EQUIPMENT
- INVESTMENT PROPERTY
Items included in the university's accounts are measured in its functional currency. Financial assets are recognized when the university becomes a party to the contractual terms of the financial instrument. Any post-year-end event that provides additional information about the university's financial position at the end of the reporting period (adjusting event) is reflected in the financial statements.
The carrying amounts and fair values of the categories of financial assets and financial liabilities presented in the statement of financial position are shown below. A description of the university's risk management objectives and policies for financial instruments is given in note 4. The table below shows the fair value hierarchy for the university's classes of financial assets and financial liabilities measured at fair value in the statement of financial position on a recurring basis from March and 2012.
The table below summarizes the fair value hierarchy of the University's financial assets and financial liabilities that are not measured at fair value in the 2014 statement of financial position, but for which fair value is disclosed. An analysis of the movements in the carrying amounts of the University's investments is presented below. A summary of the University's transactions with such related parties is presented below (in thousands of pesos).
The consolidated financial statements of the Group for the year ended March 31, 2014 (including the comparative figures for the years ended March 31, 2013 and 2012) were authorized for issue by the Board of Trustees (BOT) on June 17, 2014. The consolidated financial statements The Group's financial statements have been prepared in accordance with Philippine Financial Reporting Standards (PFRS). Items included in the consolidated financial statements of the Group are measured in the functional currency (see Note 2.15).
All subsequent changes in the share in the capital of the associated company are recognized in the book value of the group's financial investment. The group's share in a jointly controlled company is recognized in the group's consolidated financial statements using the equity method. The group's share of the joint venture's profit is adjusted for any unrealized gains arising from.
Financial assets are recognized when the Group becomes a party to the contractual terms of the financial instrument. Liabilities are recognized when the Group becomes a party to the contractual terms of the instrument. The carrying amounts and fair values of the categories of financial assets and financial liabilities presented in the consolidated balance sheet are shown below.
Analyzes of movements in the carrying value of the Group's investments held by trust banks are presented below.
