8. Biological Assets
This account is composed of the following:
Bearer Biological Assets 2024 2023
Breeding Stocks ₱ 1,294,856.00 ₱ 1,294,856.00
Plants and Trees 10,446,583.97 10,446,583.97
Total Biological Assets ₱ 11,741,439.97 ₱ 11,741,439.97
a. One-Time Cleansing of account balances
Biological assets of ₱11,741,439.97 are non-moving for more than 5 years. There are
ongoing efforts to reconcile the physical count vis-à-vis the accounting records. For
the ensuing year, the Accounting Unit will take up the necessary accounting entries to
write-off/drop from the books of accounts the unreconciled biological asset items
pursuant to COA Circular No. 2020-006.
The above balances are stated in net recoverable value.
9. Intangible Assets
This account is composed of the following:
Computer Software ₱ 784,450.00 ₱ 784,450.00
Less: Accumulated Depreciation (732,095.33) (732,095.33)
Total Intangible Assets ₱ 52,354.67 ₱ 52,354.67
a. One-Time Cleansing of account balances
Intangible assets of ₱784,450.00 are non-moving for more than 5 years. There are
ongoing efforts to reconcile the physical count vis-à-vis the accounting records. For
the ensuing year, the Accounting Unit will take up the necessary accounting entries to
write-off/drop from the books of accounts the unreconciled intangible asset items
pursuant to COA Circular No. 2020-006.
10. Financial Liabilities
This account is composed of the following:
Financial Liabilities
Payables
Accounts Payable ₱ 6,115,865.85 ₱ 1,919,135.71
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