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Friday, 06/07/2012 19:33

VDL: Explanation for difference of profit after tax in Financial Statement 2011 before and after auditing

            Lamdong Foodstuffs Joint Stock Co explained the difference of profit after tax in Financial Statement 2011 before and after auditing as follows:

No.

Items

Amount

1

Accumulated profit after tax 2011 before auditing

15,745,433,761

2

Profit after tax 2011 after auditing

15,764,863,667

3

Difference

-19,429,906

            Reasons:

-       The bank paid interest for time deposit in December, 2011 of the company in January of 2012 but not in December. Thus, the company did not account to financial income of 2011. However, the auditor proposed to account this amount to financial income of 2011. That caused the increase of profit after tax after auditing.

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