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SCL: Explanation for difference in financial statement Year 2011 before and after auditing
On 02/05/2012, Song Da Cao Cuong JSC explained difference in financial statement 2011 before and after auditing as follows:
Before auditing, profit after tax is VND8,273,317,589. In the audited financial statement 2011, it is VND 5,606,268,618 with the decrease of VND2,667,048,971.
Reason:
- In 2011, the loss of exchange rate difference from the borrowing for Project of Light brick Factory is VND2,785,321,552. The Company puts in Long-term Prepaid Expenses, the Auditor has moved this to Financial expenses;
- In 12/2011, the Company has made the mistake in counting from Interest payment into Short-term borrowing pricipal payments with the value VND3,528,983. The Auditor puts it in Interest expenses;
- VND3,000,000 is supported by Hai Duong Department of Science and Technology is counted in Fund of Investment and Development by the Company, but in Others income by the Auditor;
- The Income tax payable of 2011 is VND11,801,564 by the Compay, but none by the Auditor
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