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CAD: Explanation for difference of financial statements in quarter 2/2009
Cadovimex Seafood Import - Export And Processing Joint Stock Company (CADOVIMEX – VIETNAM) has explained the difference of financial statements in quarter 2/2009 before audit and after audit as follows:
1. The consolidated financial statements:
|
Items |
Before audit (1) |
After audit (2) |
Difference (2)-(1) |
|
- Cost of goods sold |
453,195,978,904 |
454,643,555,957 |
1,447,577,053 |
|
- Financial expenses |
29,426,706,874 |
31,479,201,653 |
2,052,494,779 |
|
- Selling expenses |
21,574,337,835 |
22,181,680,152 |
607,342,317 |
|
- General and administrative expenses |
9,804,655,735 |
9,697,852,228 |
(106,803,507) |
|
- Profit before tax |
4,477,292,468 |
476,681,825 |
(4,000,610,643) |
2. Financial statements of Cadovimex II (a subsidiary):
|
Items |
Before audit (1) |
After audit (2) |
Difference (2)-(1) |
|
- Cost of goods sold |
145,843,444,124 |
147,291,021,177 |
1,447,577,053 |
|
- Financial expenses |
5,870,737,522 |
7,923,232,301 |
2,052,494,779 |
|
- Selling expenses |
4,422,213,498 |
5,029,555,815 |
607,342,317 |
|
- General and administrative expenses |
2,603,096,053 |
2,496,292,544 |
(106,803,507) |
|
- Profit before tax |
1,720,026,614 |
(2,280,584,029) |
(4,000,610,643) |
The figure differences in consolidated income statement were affected by the statement of Cadovimex II (a subsidiary). The figures in the parent company’s statements were changed.
The figure differences of Cadovimex II were recorded incorrectly in some items:
- Distributed tools
- Interest expenses of middle and long-term borrowed capital
- Warehousing expenses of finish products
The differences of Cadovimex II’s statements were adjusted on the audited firm’s request.
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