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TRI: Explanation for difference of the financial statement
Sai Gon Beverages Joint Stock Company (TRIBECO) has explained difference
* Of the financial statement of the first 6 months 2010 before and after examination as follows:
* Previously, TRIBECO had deducted for provision of long-term investment in the integrated financial statement. After selling 30% shares on 30th June 2010, the 6% remaining was transferred to other long-term investment. Therefore, in the examined financial statement, the company deducted for the long term investment to the TRIBECO Binh Duong and in the financial statement of the parent company and in the integrated financial statement as VND10,007,515,754.
* Adjustment of provision of long-term securities investment devaluation:
|
Stock |
Volume |
Investment value |
Market price at 30/6/10 |
Market value at 30/6/10 |
Provision |
Deducted for provision |
Additional deduction |
|
Kinh Do |
213,500 |
15,708,000,000 |
52,500 |
11,208,750,000 |
4,499,250,000 |
5,374,600,000 |
(875,350,000) |
|
Kidos |
50,600 |
1,771,000,000 |
|
|
|
|
|
|
Sabeco |
50,000 |
3,500,000,000 |
41,000 |
2,050,000,000 |
1,450,000,000 |
|
1,450,000,000 |
|
Total |
|
20,979,000,000 |
|
13,258,750,000 |
5,949,250,000 |
5,374,600,000 |
574,650,000 |
* The examined financial statement deducted for the investments leading to increase of expenses and a VND10,582,165,754 decrease of profit.
* Expenses of long-term payment in advance changed policy of recording packing in the financial statement. All packing reflected in the account of receivables and used in the company is considered as expenses distributed within 10 years. Thus, the company easily controlled shortfall of packing and allocated expenses fully. Allocating expenses affected profit of the company.
* Changing policy of recording packing in financial statement has not impacted on the accounting policy. It only adjusted display of the financial statement.
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