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ABS-CBN Sports And Action
ABS-CBN Corporation, commonly known as ABS-CBN, is a Filipino media and entertainment group based in Quezon City. It is the Philippines' largest entertainment and media conglomerate in terms of revenue, operating income, assets, equity, market capitalization, and number of employees. ABS-CBN was formed by the merger of Alto Broadcasting System and Chronicle Broadcasting Network. ABS was founded in 1946 by Jewish American electronics engineer James Lindenberg as Bolinao Electronics Corporation (BEC). In 1952, BEC was renamed Alto Broadcasting System (ABS) after Judge Antonio Quirino, brother of President Elpidio Quirino, purchased the company
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Fiscal Year
A fiscal year (or financial year, or sometimes budget year) is the period used by governments for accounting and budget purposes, which vary between countries. It is also used for financial reporting by business and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis, but generally do not require the reporting period to align with the calendar year (1 January to 31 December). Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes. The calculation of tax on an annual basis is especially relevant for direct taxaction, such as income tax
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Division (business)
A division of a business, sometimes called a business sector or business unit (segment), is one of the parts into which a business, organization or company is divided. The divisions are distinct parts of that business. If these divisions are all part of the same company, then that company is legally responsible for all of the obligations and debts of the divisions. However, in a large organization, various parts of the business may be run by different subsidiaries, and a business division may include one or many subsidiaries. Each subsidiary is a separate legal entity owned by the primary business or by another subsidiary in the hierarchy. Often a division operates under a separate name and is the equivalent of a corporation or limited liability company obtaining a fictitious name or "doing business as" certificate and operating a business under that fictitious name
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Parent Company
A parent company is a company that owns enough voting stock in another firm to control management and operation by doing and influencing or electing its board of directors
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Equity (finance)
In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured by subtracting liabilities from the value of an asset. For example, if someone owns a car worth $15,000 and owes $5,000 on the loan used to buy the car, then the difference of $10,000 is equity. Equity can apply to a single asset, such as a car or house, or to an entire business entity
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Asset
In financial accounting, an asset is any resource owned by the business. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset. Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). The balance sheet of a firm records the monetary value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business. One can classify assets into two major asset classes: tangible assets and intangible assets
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Net Income
In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is a measure of the profitability of a venture. It is an entity's income minus cost of goods sold, expenses (e.g., SG&A), depreciation and amortization, interest, and taxes for an accounting period. It is computed as the residual of all revenues and gains over all expenses and losses for the period, and has also been defined as the net increase in shareholders' equity that results from a company's operations. It is different from the gross income, which only deducts the cost of goods sold. For households and individuals, net income refers to the (gross) income minus taxes and other deductions (e.g., mandatory pension contributions)
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Earnings Before Interest And Taxes
In accounting and finance, earnings before interest and taxes (EBIT) is a measure of a firm's profit that includes all incomes and expenses (operating and non-operating) except interest expenses and income tax expenses. Operating income and operating profit are sometimes used as a synonym for EBIT w
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Philippine Peso
The Philippine peso, also referred to by its Filipino name piso (Philippine English: /ˈpɛs/, /ˈp-/, plural pesos; Filipino: piso [ˈpiso, pɪˈso]; sign: ₱; code: PHP), is the official currency of the Philippines. It is subdivided into 100 centavos or sentimos in Filipino. As a former colony of the United States, the country used English on its currency, with the word "peso" appearing on notes and coinage until 1967
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Chief Operating Officer
Chief operating officer (COO), also called the chief operations officer, is one of the highest-ranking executive positions in an organization, comprising part of the "C-Suite"
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Subsidiary
A subsidiary, subsidiary company or daughter company is a company that is owned or controlled by another company, which is called the parent company, parent, or holding company. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a government or state-owned enterprise. In some cases, particularly in the music and book publishing industries, subsidiaries are referred to as imprints. In the United States railroad industry, an operating subsidiary is a company that is a subsidiary but operates with its own identity, locomotives and rolling stock
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Media Conglomerate
A media conglomerate, media group, or media institution is a company that owns numerous companies involved in mass media enterprises, such as television, radio, publishing, motion pictures, theme parks, or the Internet
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Chief Financial Officer
The chief financial officer (CFO) is the officer of a company that has primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and financial reporting. In some sectors, the CFO is also responsible for analysis of data. Some CFOs have the title CFOO for chief financial and operating officer. In the United Kingdom, the typical term for a CFO is finance director (FD). The CFO typically reports to the chief executive officer (CEO) and the board of directors and may additionally have a seat on the board. The CFO supervises the finance unit and is the chief financial spokesperson for the organization
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Chief Executive Officer
The chief executive officer (CEO), or just chief executive (CE), is the most senior corporate, executive, or administrative officer in charge of managing an organization – especially an independent legal entity such as a company or nonprofit institution. CEOs lead a range of organizations, including public and private corporations, non-profit organizations and even some government organizations (notably Crown corporations). The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the entity, which may include maximizing the share price, market share, revenues or another element
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President
The president is a common title for the head of state in most republics. In politics, president is a title given to leaders of republican states. The functions exercised by a president vary according to the form of government. In parliamentary and semi-presidential republics, they are limited to those of the head of state, and are thus largely ceremonial. In presidential republics, the role of the president is more prominent, encompassing also (in most cases) the functions of the head of government
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