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SVS: Explanation for negative profit and difference in audited Financial Statement 2012 and Financial Statement 2012
On 27/3/2013, Viet Star Securities Corporation explained the negative profit in 2012 and difference in the audited financial statement 2012 and financial statement 2012 as follows:
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Difference:
- Adjustment to increase income: VND146,548,593
- Adjustment to increase expenses : VND 616,960,212
- Adjustment to increase profit: VND3,060,000
- The difference of VND(-)470,411,619 between income and expenses and adjustment to increase profit by VND3,060,000 led to difference in accumulated profit after tax 2012 before and after auditing, specifically accumulated loss increased by VND467,351,619 (0,507%).
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Negative profit
Negative profit in 2012 was due to allowance for unlisted stocks and reduction in income from brokerage activities, income could not cover expenses.
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