A five-year strategic financial plan for Sorsogon II Electric Cooperative (SORECO II)

By: Bautista, Irish E., Cariaga, Donna, Jessamyn D., Cayco, Wallen P., De Leon, Ashley N., Eco, Jemimah Azil D., Labella, Maryrose L., Para, Arjay L., Ricablanca, Hannah J., Tabuena, Siege A., Villamor, Kyla Mae M
Language: English Manila: PLM, c2022Description: Financial Plan: (BSBA major in Financial Management) - Pamantasan ng Lungsod ng Maynila, 2022Content type: text Media type: unmediated Carrier type: volumeGenre/Form: academic writingDDC classification: . LOC classification: HG4001 B38 2022
Contents:
EXECUTIVE SUMMARY Sorsogon II Electric Cooperative (SORECO II) is a registered non-profit and stock electric cooperative under the provision of the National Electrification Administration Act (RA 6038). It has a Certificate of Franchise for a period of fifty (50) years issued on August 22, 1979 that expires on August 21, 2029. The entity was conceived to serve the six (6) municipalities and one (1) city in the upper half of the province of Sorsogon, with a total area of 1,134 square kilometer. Upon analysis, the entity has been identified to be having difficulties in terms of handling its liquid assets. Its current assets consist mainly of accounts receivable insufficient to cover its obligations. In consequence, the entity is unable to efficiently manage its debt. In conclusion, the proponents chose to implement a Perform Pledging of Accounts Receivable / Invoice Discounting in order to improve SORECO II's liquidity. This method shall utilize the accounts receivables of the entity as collateral for a loan. The proponents strongly believe that through this financing method, there shall be an improvement in the entity's cash ratio and accounts payable turnover. Ultimately, the operating performance of the entity shall improve since the company will have immediate funds that can reduce its expenses.
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EXECUTIVE SUMMARY Sorsogon II Electric Cooperative (SORECO II) is a registered non-profit and stock electric cooperative under the provision of the National Electrification Administration Act (RA 6038). It has a Certificate of Franchise for a period of fifty (50) years issued on August 22, 1979 that expires on August 21, 2029. The entity was conceived to serve the six (6) municipalities and one (1) city in the upper half of the province of Sorsogon, with a total area of 1,134 square kilometer. Upon analysis, the entity has been identified to be having difficulties in terms of handling its liquid assets. Its current assets consist mainly of accounts receivable insufficient to cover its obligations. In consequence, the entity is unable to efficiently manage its debt. In conclusion, the proponents chose to implement a Perform Pledging of Accounts Receivable / Invoice Discounting in order to improve SORECO II's liquidity. This method shall utilize the accounts receivables of the entity as collateral for a loan. The proponents strongly believe that through this financing method, there shall be an improvement in the entity's cash ratio and accounts payable turnover. Ultimately, the operating performance of the entity shall improve since the company will have immediate funds that can reduce its expenses.

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