Sanita, Shaira Mica, V.

BSA 3-1

STATEMENT OF ASSETS, LIABILITIES AND FUND BALANCE

ASSETS
 In the Current Assets accounts, both Cash and Cash Equivalents and Project and other
advances decreased but still manage to be the major source of assets of the incorporation.
In addition to that, the company also have its short-term investments and other current
assets that both increases indicating that the corporation benefited from its resources
 Noncurrent Assets consists of Property, plant, and equipment and other noncurrent assets
that can be considered as 2.06% and 2.5% of the total assets of the incorporation for 2018
and 2017 respectively.
LIABILITIES AND FUND BALANCE
 Liabilities of the company consists of their current projects and payable that decreases in
the current year while its noncurrent liability is their retirement benefit obligations that
increases as of the current year. The current ratio or the working capital ratio of the
company are 1.99 and 2.54 for 2017 and 2018 respectively that indicates the number of
time that current liabilities could be paid with the available current assets.
 The fund balance is increased by 17.43% or Php1,630,095.

STATEMENT OF SUPPORT, REVENUES and EXPENSES

 The source of Support and Revenues of the company are from grants and donations,
membership fees and other income which increases by 3.76% in total.
 The company incurs expenses on their project costs and on general and administrative
expenses that also increases by 4.55% and 4.91% for its project costs and general
administrative expenses respectively.
 The excess of support and revenues over expenses in 2017 is higher than 2018

STATEMENT OF CHANGES IN FUND BALANCE

 To compute the ending fund balance of the company, the beginning balance is added to
the excess of support and revenues over expenses which we can find in the Statement of
Assets, Liabilities, and Fund Balance
 STATEMENT OF CASH FLOWS
Cash Flows from Operating Activities
 Cash flows from operating activities includes the revenue generated, expenses paid, and
funding work capital. To compute the net cash (used in) provided by operating activities:

Receipts:

Collections from customers xxx

Interest Received xxx

Dividend Received xxx xxx

Payments:

To suppliers (xxx)

To employees (xxx)

For interest (xxx)

For income tax (xxx) (xxx)

Depreciation xxx

Gains (xxx)

Losses xxx

Increase in Current Assets (xxx)

Decrease In Current Assets xxx

Increase in Current Liabilities xxx

Decrease in Current Liabilities xxx

xxx

 The following are added to the cash flows from operating activities
1. Excess of support and revenue over expenses
2. Retirement benefit cost
3. Depreciation
4. Unrealized foreign exchange loss (net)
5. Project and other advances
6. Interest received from bank deposits and cash equivalents
 The following are deducted in the computation of cash flows from operating activities
1. Interest income from bank deposits and cash equivalents
2. Interest income from short term investments
 3. Interest income from multi-purpose loans to employees
4. Increase in other current assets
5. Decrease in project and other payables

Cash Flows from Investing Activities

 Is the cash that has been generated (or spent) on non-current assets that are intended to
produce a profit in the future. To compute the net cash used in investing activities:

Acquisition of Plant Assets (xxx)

Loan to another company (xxx)

Proceeds from sale of investments xxx

Proceeds from sale of plant assets xxx

Collections of Loans xxx

xxx
 Additions to property and equipment are added to short term investment and to get the
net cash used in investing activities by the company interest received from short term
investment and interest received from multi-purpose loans to employees is deducted to
the latter.

OTHER NOTES TO FINANCIAL STATEMENTS

 Financial Statement of the Foundation is prepared in accordance and in compliance with
the Philippine Reporting Standard for small and Medium-sized Entities (PFRS for SMEs)
for each type of asset, liability, income, and expenses.
 Cash consists of cash on hand and demand deposits. Cash Equivalents are made for up to
3 months. There is no restriction on the Foundation’s cash and cash equivalents as at
December 31, 2018 and 2017.
 Interest income earned from short term investment are included as “Other Income (net)”
of the foundation accounted under Statement of Support, Revenues and Expenses
 Project advances of the foundation pertains to cash advances made to third parties with
respect to maintenance of project site used for a designated activity or other expenses.
Advances are generally collected in 30-90 days
 Foundation’s PPE as of 2018 and 2017 are not held as collateral for its liabilities and are
free from any encumbrances
 The following information for the year ended December 31, 2018, is presented in the BIR
but not required part of the basic financial statements
1. Value Added Tax
2. Taxes on Importation
3. Excise Tax
4. Documentary Stamp Tax
5. All other local and national taxes
6. Withholding Taxes
7. Deficiency Tax Assessment and Tax Cases