DID: Explanation for difference in profit after tax 2012 after auditing

(30/04/2013) DIC DONG TIEN JSC announced explanation for difference in profit after tax in FS 2012 before and after auditing as follows:
1. Difference

<div align="right">Unit: million VND

</div> No
Indicator
Year 2012 before auditing
Year 2012 after auditing
Difference
Difference %
1
Gross sales

<div align="right">96,667.67

</div>

<div align="right">96,667.67

</div>

<div align="right">0

</div>

<div align="right">0

</div> 2
Cost of goods sold

<div align="right">83,926.05

</div>

<div align="right">84,229.53

</div>

<div align="right">303.48

</div>

<div align="right">3.62

</div> 3
Selling expenses

<div align="right">1,204.42

</div>

<div align="right">1,204.42

</div>

<div align="right">0

</div>

<div align="right">0

</div> 4
General and administration expenses

<div align="right">4,729.66

</div>

<div align="right">5,010.43

</div>

<div align="right">280.77

</div>

<div align="right">5.93

</div> 5
Other expenses

<div align="right">126.20

</div>

<div align="right">234.73

</div>

<div align="right">108.53

</div>

<div align="right">86

</div> 6
Income tax payable

<div align="right">303.28

</div>

<div align="right">120.26

</div>

<div align="right">(183.01)

</div>

<div align="right">(11.41)

</div> 7
Profit after tax

<div align="right">1,529.24

</div>

<div align="right">1,019.46

</div>

<div align="right">(509.77)

</div>

<div align="right">(33.33)

</div>
2. Explanation
- Cost of goods sold: due to adjustment in increasing expense of VND303.48 million
- General and administration expense:
+ Adjustment to increase prepaid expense: VND76.21
+ Adjustment to increase allowance for job loss: VND24.55 million
+ Extraction of allowance for receivables: VND180.00
- Other expenses: payment of fine, tax
- Income tax payable: due to increase in profit before tax, and in 2012, the company was exempted from tax, 30%, but FS before auditing was not account for 30% reduction in tax

View more random threads:

• Shares rise slightly on both exchanges
• Both stock indices decline on liquidity problems
• Northern and southern bourses slide down
• Construction stocks not profitable in short term: Brokers
• Navibank plans to list 100 million shares in Hanoi
• GHC: Notice of record date for dividend payment in cash - 1st round for year 2015
• Economic data fails to lift shares
• VCC: Result of transactions of Directors, PDMR (Mr. Trung)
• Shares earlier losses in HCM City
• AAA: Notice of record date for dividend payment in cash year 2015