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V15: Explanation for difference in Audited Financial Statement 2011
Vietnam Construction JSC No.15 explained difference in profit after tax in the Audited Financial Statement 2011 and Financial Statement 2011 as follows:
Balance sheet (after auditing)
- Total assets : VND 355,410,054,838 (with an decrease of VND1,363,707,180)
- Reasons:
+ Increase of allowance for uncollectible accounts: VND1,363,707,180
+ Change of amount VND3,061,908,967 from “Advanced payments to suppliers” to “Other current assets”
+ Decrease of tax payable due to decrease of profit: VND340,926,795
+ Decrease of profit after tax: VND1,022,780,385
Income Statement
- Profit before tax 2011 after auditing: VND11,122,594,606 with an decrease of VND1,363,707,180.
- Reasons: General and Administration expenses increased due to allowance for uncollectible accounts
- Profit after tax decreased following the decrease of profit before tax
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