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GLT: Explanation for difference in financial statement Year 2011 before and after auditing
Global Electrical Technology Corp. explained difference in financial statement 2011 before and after auditing as follows:
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No.
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Items
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Before auditing
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Change
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1
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Cost of goods sold
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141,538,764,348
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141,385,419,581
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-153,344,767
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2
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Income tax payable
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4,210,641,320
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4,072,158,867
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-138,482,453
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3
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Deferred tax
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149,797,998
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161,847,657
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12,049,659
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4
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Profit after tax
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25,982,988,722
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26,262,766,283
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-279,777,561
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Reasons:
- Cost of goods sold decreased due to decrease of allowance for inventories and payment in advance of tax
- Amendment of income tax payable and deferred tax.
HNX
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