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Friday, 01/06/2012 09:46

TST: Explanation for difference in financial statement Year 2011 before and after auditing

Telecommunication Technical Service JSC explained difference in financial statement 2011 before and after auditing as follows:

The difference before and after auditing 2011 is VND497,576,967

-       Gross profit of audited financial statement 2011 of audited FS increased VND717,454,860 (4.59%) because gross sale of merchandise decreased VND299,850,390 (-0.39%) but cost of goods decreased VND1,017,305,250 (-1.09%) due to amendment of revenue and expense in advance

-       Financial expense of audited FS increased VND717,454,860 (+4.59%) because Foreign exchange differences

-       General and administration expense of audited FS increased VND762,904,574 (+7.29%) due to amendment of allowance for debts, inventories and salary expenses.

-       Profit before tax 2011 of audited FS decreased VND946,316,885 (-42.19%), income tax payable decreased VND448,739,918 (-79.89%) due to a VND1,627,100,000 of non taxable income in total taxable income.

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