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CLP: Explanation for 2013 profit before & after auditing Cuu Long Seaproducts Company explained the difference in 2013 profit after tax of the parent company and the consolidated before and after auditing:
- Financial
Statement of parent company:
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Items
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Before
auditing:
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After
auditing:
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Difference
|
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VND
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Financial expenses
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27,548,414,529
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27,587,076,167
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38,661,638
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Deferred corporate income tax expenses
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-665,364,665
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-665,364,665
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Profit after tax
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-61,883,286,137
|
-61,256,583,110
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626,703,027
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Reason: -
Financial
expenses increased VND 38,661,638 because the auditing recalculated the late payment interest. -
Deferred corporate
income tax expenses decreased VND665,364,665 because the auditing increased
income tax from provision for devaluation of inventories until December 31,
2013. -
Profit after tax increased
VND626,703,027 because the auditing adjusted financial expenses and deferred
corporate income tax expenses. - Consolidated Financial Statement:
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Items
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Before auditing:
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After auditing:
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Difference
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VND
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Cost of goods sold
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1,124,995,386,381
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1,125,554,241,599
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558,855,318
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Financial expenses
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31,202,473,061
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31,241,134,699
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38,661,638
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Selling expenses
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33,091,805,298
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33,201,295,589
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109,490,291
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General and administration expense
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18,144,997,880
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18,518,064,840
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373,066,960
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Current corporate income tax expenses
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-1,043,275,146
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-999,024,231
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44,250,915
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Deferred corporate income tax expenses
|
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-665,364,665
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-665,364,665
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Profit after tax
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-78,792,699,519
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-79,251,659,973
|
-458,960,454
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Reason: -
Cost of goods
sold increased VND558,855,318 because subsidiary adjusted inventory value VND274,938,240 and
depreciation of
fixed assets VND283,917,075. -
Financial
expenses increased because the auditing recalculated the late payment interest. -
General and administration
expense increased because subsidiary adjusted audit fees, provision for bad debts and VAT.
HOSE
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