NVN: Explanation adjustment of COGS

House Viet Nam Joint Stock Company has explained adjustment of cost of goods sold in the financial statement Q1/2010 as follows:

Unit: VND

In Q2/2010, the company adjusted selling price, thus total expected sales of the BCR project increased, meanwhile investment expenses remained unchanged. This made rate of COGS/net sales decreased. When recording sales in Q2/2010, the company decreased COGS in Q1/2010 in order to record the item of (Sales – expenses) to match with consistent principle in the fiscal period.

Therefore, business result in Q1/2010 as informed was different from the accumulative number of business result in Q2/2010

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