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DST: Explanation for auditor’s opinion on semi-annual FS 2013
(Aug. 13, 2013)
Nam Dinh
Educational Book and Equipment Joint Stock Company explained the auditor’s
opinion on semi-annual FS 2013 as follows:
1.
Auditor’s opinion: The Company has not set up the actual
salary levels paid to the employees for the first 6 months of 2013 with the
amount of VND 353,191,250. The Company presented VND 143,112,843, the remaining
VND 210,078,407 is put in “other receivables” on the balance sheet. If enter
the entire actual salary expenses until 30 June 2013 in the expenses of the
period, the business result of the first 6 months of 2013 has a loss of VND
210,078,407
Explanation
of the Company: The Company primarily buys and sells schoolbooks and
educational products on seasonal base (school semesters). Until 30 June 2013,
the Company mainly bought, the salary expense of 6 months (paid the employees
VND353,191,250) while the revenue of the first 6 months had not covered those
expenses. Therefore, the Company deducted 143,112,843 to the expense account;
the debit balance on 3341 account was VND 210,078,407 which the Company entered
in “other receivables” on the balance sheet. In July and August 2013, the
Company will continue to deduct the above debit balance.
2.
Auditor’s opinion: The inventory has not been
classified and evaluated. The value of the inventory is VND 1,271,004,864
(accounting for 9.57% of the total assets).
Explanation
of the Company: Most of the inventory is the books of previous years with new
content that the Company continues selling off; clear the too old products
3.
Auditor’s opinion: Provision for some of overdue debts
is short of VND 39,756,071 compared to the regulated level
Explanation
of the Company: Actively collect the debts and complete the provision in Q.IV/2013 HNX
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