Identification

• Current assets - cash and other assets intended for sale
• cash and cash equivalents - cash and short term, highly liquid
• cash on hand - refers to money (bills and coins) still in possession
• checks & other cash items - refers to dated checks postal money order
• cash in coop federation - refers to money deposited in federations to which they are affiliated
• petty cash fund - refers to the limited amount of money set aside for small expenditures
• revolving fund - refers to the amount set aside to cover disbursements
• change fund - refers to reasonable amount of money set aside by BOD
• ATM fund - refers to the money placed in the ATM
• E-wallet fund - refers to the money placed in gcash, paymaya etc
• loans and receivables - financial assets w fixed or determinable payments that are not quoted in an active market
• loans receivable (current) - refers to outstanding balance of loans granted which are not yet due
• loans receivable (past due) - refers to outstanding balance of loans to member-borrowers not paid on installment due dates using PAR
• Loans Receivables (Restructured) - refers to receivables from member-borrowers whose loan accounts were restructured upon full payment
• Loans Receivable (Loans in Litigation) - refers to receivables from member-borrowers under legal action
• Unearned Interests and Discounts - refers only to the existing interest on loans deducted in advance prior to the effectivity of this guidelines. contra asset account
• Allowance for Probable Losses (loans) - refers to the cumulative amount of probable or impairment losses arising from non collection of past due loans.
• Accounts Receivables Trade (Current) - refers to the amount due from member, non-member patrons and/or ATM providers resulting from sales of related goods /merchandise which are expected to be collected within the credit terms set by the Board of Directors.
• Accounts Receivables Trade (Past Due) - refers to total trade receivables due from members and/or non-member patrons which remain unpaid beyond the credit terms set by the BOD.
• Accounts Receivables Trade (Restructured) - refers to total Trade receivables from the member & non-member patrons whose accounts were restructured upon full payment
• Accounts Receivables Trade (in Litigation) - refers to total trade receivables from member and non-member patrons under legal action.
• Allowance for Probable Losses (Accounts Receivable Trade) - refers to the cumulative amount of probable or impairment losses arising from non collection of accounts.
• Installment Receivables (Current) - refers to the amount due from members and non-member patrons for sale of merchandise/goods on a deferred payment or installment plan.
• Installment Receivables (Past Due) - refers to the amount due from members and non-member patrons for sale of merchandise / goods on a deferred payment or installment plan which remain unpaid beyond the terms set by the cooperative.
• Installment Receivables (Restructured) - refers to the amount due from members and non-member patrons for sale of merchandise / goods on a deferred payment or installment plan that were restructured upon full payment or settlement of interests due and/or penalties.
• Installment Receivable in Litigation - refers to the amount due from members and non-member patrons for sale of merchandise / goods on a deferred payment or installment plan under legal action
• Allowance for Probable Losses (Installment Receivables) - refers to the cumulative amount of probable or impairment losses arising from non collection of installment receivables
• Unrealized Gross Margin - refers to the unrealized portion of the gross margin on goods sold on installment basis
• Service Receivable - t refers to the amount due from member, non-member patrons and/or ATM providers resulting from services rendered
• Sales Contract Receivable - refers to amortized cost of the receivables arising from installment sale of assets acquired in settlement of loans/obligations.
• Allowance for Probable Losses Sales Contract Receivables - refers to the cumulative amount of probable or impairment losses that may arise from non-collection of payment on Sales Contract Receivables
• Accounts Receivable non trade - refers to receivables other than accounts receivable-trade. Examples of this, income tax receivable, and insurance claims receivable, etc.
• Allowance for Probable Losses Accounts Receivable-non trade - refers to the cumulative amount of probable or impairment losses that may arise from non-collection of payment on Accounts Receivable-non trade
• Advances to Officers, Employees and Members - refers to duly approved cash advances for official business to officers, employees and members
• Due from Accountable Officers, Employees and Members - refers to total collectibles due from accountable officers and employees arising from shortages, losses and unliquidated cash advances beyond the prescribed period
• Finance Lease Receivable - refers to receivables arising from sale of goods/property under finance lease agreement.
• Allowance for Impairment Finance Lease Receivable - refers to the cumulative amount of impairment loss that may arise from non collection of payment on Finance Lease Receivables.
• Receivable Assigned (Surety Agreement) - amount due from the CSF Cooperative’s member-borrower/endorser, by virtue of its endorsement or subrogation of the debt, under a deed of assignment of credit issued by the lending bank in favor of the CSF Cooperative
• Unearned Income Receivable Assigned - refers to the amount of income received but not yet earned on receivable assigned from surety agreement
• Other Current Receivables - refers to transactions/adjustments not classified under any of the receivable accounts mentioned.