COMPUTE FOR DAY SALES OUTSTANDING RATIO  GIVEN   ASSETS   Current Assets     Cash and cash equivalents   ₱ 345,929,975 Receivables - net   228,360,959 Notes receivable   195,007,214 Inventories   33,918,796 Due from related parties - current portion   1,602,120,064 revenue    2,104,932,423

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Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.