What is a debenture for school?
A debenture is a loan taken by the school thus the payment of fees by the parents of a child against his/ her admission in the school as a student is the way of contributing to the long term funding of the school. The fee mainly covers the school’s running cost and not the capital costs.
Why do schools offer debentures?
Most schools state that the fees are generally set at a level which covers most if not all of the school’s running costs, but not its capital costs. So, debentures are how parents of students contribute to the long-term funding of the School.
Are debentures refundable?
Refundable/Non-refundable/Depreciating In at least one school, the debenture depreciates to zero in seven years. If a child is to continue on in the school, the parents must buy a new debenture or the child will not be allowed to stay in the school.
What do mean by debenture?
A debenture is a marketable security (a type of investment) issued by a business or other organization to raise money for long-term activities and growth. It is a form of debt capital so it is accounted for as debt on the balance sheet of the issuing company.
What is debenture fee?
Fee Debenture means that certain debenture, or any replacement, substitution or amended and restated form thereof, in the principal amount of one hundred seventy thousand and no/100 United States Dollars ($170,000), issued by the Company in favor of the Buyer, the form of which is attached hereto as Exhibit F.
Are bonds and debentures same?
In a sense, all debentures are bonds, but not all bonds are debentures. Whenever a bond is unsecured, it can be referred to as a debenture. To complicate matters, this is the American definition of a debenture. In British usage, a debenture is a bond that is secured by company assets.
How do you account for debentures?
Notes: Discount on issue of Debentures is a capital loss and will be written off during the life time of the debentures. The unamortized parts will be shown on the Assets side of the balance sheet as Unamortized expenses. Loss on issue of debentures can be written off from Securities Premium reserve.
Are all ESF schools IB?
At secondary level, the two ESF all-through schools, Renaissance College and Discovery College offer the International Baccalaureate Middle Years Programme (IB MYP) from Years 7 to 11. For the other five ESF secondary schools, the curriculum are aligned to the MYP framework from Years 7 to 9.
How many ESF schools are there?
22 schools
The English Schools Foundation (ESF) manages 22 schools in Hong Kong: five secondary schools, nine primary schools, two “all through” schools, five kindergartens and one school for children with special needs.