Audit Report Mainland Finance

Audit Report For Mainland Finance spate Submitted to: Prof. Cynthia P. Cabanag Submitted by: Noel P. Ligason I. Current Situation A. Current effect: Mainland Finance Corporation is a Filipino-owned domestic financing raft and duly registered with the Philippine Securities and Exchange Commission (SEC) with an authorized capitalization of ten million pesos (P10,000,000.00). Initially registered as a change companion on January 22, 2001, it was finally granted a certification of Authority to operate as a financing plenty on October 17, 2003, pursuant to the rules and regulations implementing the provisions of Republic Act 8556, other known as the Financing Act of 1998. At yield, its origin operation caters principal(prenominal)ly to client needs within Cebu Province. Its main office is located at TPE Building, Banilad Road, Cebu City. It is manned by sevensome professional employees. So far, the company has opted not to open branches. The company made a revenue turnover of P14,037,025.00 by declination 31, 2010 and recognized profit after tax of P598,432 in the same year. Its application for an increase in authorized capitalization from its present P10M to P20M is under process with the Philippine Securities and Exchange Commission. B. Strategic personate: 1.

Mission: The present mission statement of the company is To manakin a strong and profitable financing organization that would starting satisfy the needs of our customers by providing quality service and would choke and nurture our officers and staff by providing an ideal workplace, opportunities for growth and breeding and fitting recognition of their contributions. 2. Strategy: Mainland Finance Corporation pick out the following generic strategies when the company launched its financing and lending products in the market in March 2003 upon SEC approval of its incarnate license as a financing company. The strategies of Mainland Finance Corporation are... If you want to get a full essay, order it on our website: Ordercustompaper.com

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