|
NST: Explanation for audit's note in FS (First 06 months of 2013)
On 12/09/2013, Ngan Son JSC explained for audit’s note in FS of the first
06 months of 2013 as follows:
1. The balance of inventories of the Company as at 30/06/2013 worth about
VND 282.9 billion, including types of inventory materials such as tobacco
material and processed tobacco with the volume of 4.564 tons equivalent to VND
262 billion (accounting for 44.71% of total assets value as at 30/06/2013). The
main cause is the Company’s sales mainly focused on the last 06 months of the
year, besides in 2013, the Company’s sales also have some difficulties that led
to the lower revenue compared to the same period of the previous year. The
consumption of inventory mentioned above and the volume of purchasing goods of
the last 06 months of the year of the Company can be completely implemented and
do not affect significantly to the operating plan and the profit of 2013
2. Determining salary budget (according to estimated number) is VND 15.1
billion, equivalent to 29% of the planed salary budget of 2013 because the
Company extracts the salary budget above on sales revenue of the first 06
months of the year
3. The depreciation of the first 06 months of 2013 of stemming tobacco
material processing chain with the capacity is 24,000 tons/year is being
extracted base on the estimated cost because the chain is imported from Europe
that led to some problems in installing and operating the chain accordingly, so
as at 30/06/2013, the project’s settlement still has not finish yet.
In September of 2012, when the Company put the chain into operation, the
Company has registered with Hanoi Tax Department on the method for depreciation
according to yield (according to Circular No. 203/2009/TT-BTC then the chain
only reach the capacity is 50% of the designed capacity, but according to the
Circular No. 45/2013/TT-BTC on 25/04/2013 of Financial Ministry then one of
conditions for depreciation is that the chain must reach 100% of designed
capacity) so the settlement of depreciation expense (increase or decrease) will
be adjust by the Company when making the Financial Statement of 2013
HNX
|
