Polytechnic University Mission & Goals

To become a top-tier comprehensive polytechnic university in Asia.

To provide inclusive, fair, and relevant polytechnic education to boost national development.

Focuses on innovative teaching methods, strong faculty, and student development.

Emphasizes increasing research, community engagement, and collaborating with others.

Focuses on leadership, resource management, and effective human resource practices.

Innovative curriculum and instruction methods.

Empowered, expert faculty.

Holistic student development.

Honesty and ethical conduct in all actions.

Pride in and support of the nation.

Dedication to helping others.

Welcoming people from diverse backgrounds.

A strong commitment to high standards.

Entries made at the end of an accounting period to update account balances

Systematic allocation of an asset's cost over its useful life.

Total depreciation expense recorded for an asset since its purchase.

Expense recorded for uncollectible accounts receivable.

Contra-asset account reducing the balance of accounts receivable.

Expense incurred but not yet paid.

Income earned but not yet received.

Expense paid in advance but not yet incurred.

Revenue received in advance but not yet earned.

Recognizing revenue and expenses when they are earned or incurred, not necessarily when cash changes hands.

(Acquisition cost - residual value) / useful life

Records pre-paid expenses as an asset and later adjusts it to expense.

Initially records pre-paid expenses as an expense, then adjusts as an asset

Records advance payments as a liability (unearned revenue).

Records advance payments as revenue, then adjusts as a liability for the unearned amount.

Adjusts the inventory account in periodic systems to reflect beginning and ending inventory.

Cash paid for rent in advance of use.

Cash received for services or goods not yet provided.