CTX: Explanation for difference in figures of FS before and after review

Vietnam Investment Construction and Trading Joint Stock Corporation explained reviewed conclusion of auditing company – Ernst & Young Vietnam Co., ltd for particular and consolidated financial statement of Vietnam Investment Construction and Trading JSC in first 06 months of 2013 as follows:
1/ Regarding to record of revenue and cost price of real estate business activities relating to real estates purchased by the Corporation
In first 06 months of 2013, the Corporation cancelled some contracts of selling real estate in Olalani High-grade Apartment Zone (Danang) because buyers did not pay according to contract commitment. The Corporation recorded this transaction as decrease of revenue and cost price of goods sold in first 06 months of 2013 with appropriate amount of VND 10,213,056,000 and VND 8,510,168,895.
Auditing company concluded record of revenue from real estate in Olalani project in previous financial years was not appropriate because almost risks and profits connected closely to this real estate own right were not handed over to sellers.
2/ Regarding to record of fixed assets in Yen Hoa urban zone project
The Corporation had document no. 231/CTX-KHTC dated 02/4/2013 on explanation for audit opinion for particular and consolidated financial statement reviewed by Ernst & Young Vietnam Co., ltd.
3/ Regarding to temporary stop of paying interest expense in advance of payables of privatization to SCIC in 2012 and first 06 months of 2013
In first 06 months of 2013, the Corporation continued deducting in advance interest expense in the balance of payables of privatization to SCIC on basis of financial statements. The Corporation was working with SCIC and functional authorities to determine influence of legal documents on value of payables and arising interests.
4/ Regarding to record of corporate advantage value (trademark)
The Corporation had document no. 862.1/CTX-KHTC dated 04/9/2013 on explanation for audit opinion for particular and consolidated financial statement reviewed by Ernst & Young Vietnam Co., ltd.

HNX

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