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Tuesday, 03/07/2012 16:48

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

Petrolimex Petrochemical JSC explained difference in financial statement 2011 before and after auditing as follows:

1. Profit after tax after auditing in the parent company’s FS decreased by VND10,586,070 compared  to that before auditing.

Reasons:

The Board of Management increased the salary fund of the year 2011 for PLC company so the profit after tax decrease by VND10,586,070

2. Profit after tax after auditing in the consolidated FS year 2011 decreased by VND6,065,006,984 compared to that before auditing.

Reasons:

Consolidated FS was summarized from FS of the parent company and 2 subsidiary companies (Petrolimex Asphalt Company and Petrolimex Chemical Company). The decrease of the consolidated profit after tax resulted from the decrease of profit of the above companies, specifically:

-          Parent company’s profit after tax: decreased by VND10,586,070 as mentioned above.

-          Petrolimex Asphalt Company’s profit after tax: decreased by VND6,021,556,514

-          Petrolimex Chemical Company’s profit after tax: decrease by VND32,864,400

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