BCKT nam 2012 Bao cao tai chinh rieng Cong ty Co phan Van hoa Tan binh Ban phat hanh English 1365990871

BCKT nam 2012 Bao cao tai chinh rieng Cong ty Co phan Van hoa Tan binh Ban phat hanh English 1365990871 tài liệu, giáo á...

for the fiscal year ended as at 31/12/2012

BOARD OF MANAGEMENT, BOARD OF DIRECTORS AND BOARD OF CONTROLLERS

The members of The Board of Management in the fiscal year and to the reporting date are:

The members of The Board of Directors in the fiscal year and to the reporting date are:

The members of the Board of Controllers are:

on publishing the value of Tan Binh General Service Culture Company to transform into ALTA Company Thecompany operates under Business and Tax Licenses No.0301420079 dated 31 August 1998 by Department of Planningand Investment of Ho Chi Minh City, registered to change the 25th dated 19 June 2010

REPORT OF THE BOARD OF DIRECTORS

The company‟s head office is located at Plot II-3, Group CN2, Street No 11, Tan Binh Industrial Zone, Tay ThanhWard, Tan Phu District, Ho Chi Minh City

The auditors of Auditing and Accounting Financial Consultancy Service Company Limited (AASC) take the audit of

On behalf of The Board of Directors

Hoang Van Dieu

General Director

Ho Chi Minh City, 25 March 2013

STATEMENT OF THE BOARD OF DIRECTORS’ RESPONSIBILITY IN RESPECT OF THE FINANCIAL STATEMENTS

State whether applicable accounting standards have been followed, subject to any material departures disclosedand explained in the Financial Statements;

The Board of Directors is responsible for the Financial Statements of each financial year which give a true and fair view

of the state of affairs of the Company and of its operation results and cash flows for the year In preparing thoseFinancial Statements, The Board of Directors is required to:

Make judgments and estimates that are reasonable and prudent;

The Board of Directors pledges that the company does not offend obligation of information disclosure under regulation

in Circular No 52/2012/TT-BTC dated 05 April 2012 issued by Ministry of Finance guiding disclosure of information

Prepare the Financial Statements on going concern basis unless it is inappropriate to presume that the Companywill continue in business

The Board of Directors is responsible for ensuring that proper accounting records are kept which disclosed, withreasonable accuracy at any time, the financial position of Company and to ensure that the accounting records complywith the registered accounting system It is responsible for safeguarding the assets of the Company and hence for takingreasonable steps for the prevention and detection of fraud and other irregularities

Select suitable accounting policies and then apply them consistently;

Establishment and maintenance of an internal control system which is determined neccessary by The Board ofDirectors and Those charged with governance to ensure the preparation and presentation of Financial Statements

do not contain any material misstatement caused by errors or frauds;

To: Shareholders, The Board of Management and The Board of Directors

ALTA Company

Basis of opinion

Auditor’s opinion

Auditing and Accounting Financial Consultancy

Service Company Limited (AASC)

On the Financial Statements for the fiscal year ended as at 31 December 2012

We have audited the Financial Statements of ALTA Company prepared on 25 March 2013 including: Balance Sheet as

at 31 December 2012, Income Statement, Cash Flow Statement and Notes to Financial Statements for the fiscal yearended as at 31 December 2012 as set out on pages 05 to 36

These Financial Statements are the responsibility of the The Board of Directors of Company Our responsibility is toexpress an opinion on these Financial Statements based on our audit

We conducted our audit in accordance with Vietnamese Standards on Auditing Those standards require that we planand perform the audit to obtain reasonable assurance about whether the Financial Statements are free of materialmisstatement An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in theFinancial Statements An audit also includes assessing the compliance with current accounting standards and system andthe accounting principles used and significant estimates made by The Board of Directors, as well as evaluating theoverall Financial Statements presentation We believe that our audit provides a reasonable basis for our opinion

In our opinion, the Financial Statements of ALTA Company give a true and fair view, in all material respects, of thefinancial position of the Company as at 31 December 2012, and of the results of its operations and its cash flows for theyear then ended in accordance with the Vietnamese Accounting Standards and System and comply with relevantstatutory requirements

252 2 Investments in joint-ventures, associates 8.700.000.000 8.700.000.000

259 4 Provision for devaluation of long-term investments (3.086.711.581) (1.242.152.067)

314 4 Tax payables and statutory obligations 16 9.016.630.403 494.546.250

Note Code RESOURCE

BALANCE SHEET

As at 31 December 2012 (continue)

31/12/2012 01/01/2012

5 Foreign currencies

Ho Chi Minh City, 25 March 2013

OFF-BALANCE SHEET ACCOUNTS

20 5 Gross profit from sale of goods and rendering

INCOME STATEMENT

Year 2012

Note Code ITEM

-05 Gains/losses from investing activities (2.251.126.476) (7.466.176.071)

11 Increase/Decrease in payables (excluding interest

payables, enterprise income tax payables)

2.829.783.055 (21.165.932.110)

23 3 Loans to other entities and purchase of debt

instruments of other entities

24 4 Repayment from borrowers and proceeds from

sales of debt instruments of other entities

4.600.000.000 19.684.560.000

27 7 Interest, dividends and profit received 2.436.143.014 3.298.675.071

(Under indirect method)

Year 2012

CASH FLOW STATEMENT

Year 2012 Year 2011

(Under indirect method)

Year 2012

CASH FLOW STATEMENT

Ho Chi Minh City, 25 March 2013

-No.91 B2, Pham Van Hai Street, Ward 3, Tan Binh District,

Ho Chi Minh City

Alta Laser Game Maximark 3T2 Maximark 3/2 Supermarket, District 10, Ho Chi Minh CityAlta Prepress No.9 - 11, Truong Chinh District, Ward 11, Tan Binh District,

Ho Chi Minh City

Laser game Nguyen Kim Nguyen Kim Center - Thu Duc Branch, Thu Duc District, Ho

Chi Minh CitySuoi Tien Cultural Tourism Zone, District 9, Ho Chi MinhCity

Alta Printing No.105 Au Co Street, Ward 14, Tan Binh District, Ho Chi

Minh CityOutlet Unique

Plot II-3, Group CN2, Street No 11, Tan Binh Industrial Zone,Tay Thanh Ward, Tan Phu District, Ho Chi Minh City

No 17 Dong Son Street, Ward 7, Tan Binh District, Ho ChiMinh City

Sunflower Environmental Technology

Alta Paper Industry Plot II-3, Group CN2, Street No 11, Tan Binh Industrial Zone,

Tay Thanh Ward, Tan Phu District, Ho Chi Minh CityAlta Plastics Plot II-3, Group CN2, Street No 11, Tan Binh Industrial Zone,

Tay Thanh Ward, Tan Phu District, Ho Chi Minh City

Au Lac Technology Applications and

Media Services Company Limited

No.927/8 (Old No.169/8), Cach mang Thang 8 Street, Ward 7,Tan Binh District, Ho Chi Minh City

No.927/8 (Old No.169/8), Cach mang Thang 8 Street, Ward 7,Tan Binh District, Ho Chi Minh City

Trung Duong Audio & Video

Alta Toys

The Company’s associates are as follows:

-Producing composite - general plastic materials; producing paper and products made from paper;

Assembling electric machinery, manufacturing and processing artistic goods, cosmetics;

Trading many kinds of entertainments such as billiards, roller - skate, games;

Manufacturing, arranging, audio - video art programs (with the approved contents)

Beauty care (except business operation make bleed);

Producing and trading printing, picture, packing, toy and education equipments industry;

Publishing books, newspaper, audio and video with program;

Dealing commerce, general services, advertisement, cinema and many kinds of entertainments;

Curling, beauty care, renting wedding dress, clothing, designing graphic, painting art, cosmetic;

Amending, assembling electronics equipments, serving computer software; renting, reproducing records andother services, joining or directly investing in-country or overseas in culture and technique of producingcultural products;

Renting premises, office, factory;

Buying, selling cultural products, books, newspapers, tapes, disks with the approved contents (do not buy orsell video, music disks at the head office); electronic products, electric products; components of computer anddigital machine (camera, movie camera, telephone);

Being as an agency rendering internet service;

Vietnam Denmark Development

Cooperation Co., Ltd

Au Lac Trading Advertising Printing Joint

Stock Company

Supplement information of Subsidiaries, Associates, Joint ventures of the Company is provided in Note No 13

Manufacturing, buying and selling plastics bottle (do not re-produce waste at the head office);

Producing materials for manufacturing packing and printing ink industry;

Building civil and industrial projects; serving industrial hygiene service;

Safe and Sound Medicine Corporation (*)

Plot II-3, Group CN2, Street No 11, Tan Binh Industrial Zone,Tay Thanh Ward, Tan Phu District, Ho Chi Minh City

No.11, Truong Chinh Street, Ward 11, Tan Binh District, HoChi Minh City

Plot II-3, Group CN2, Street No 11, Tan Binh Industrial Zone,Tay Thanh Ward, Tan Phu District, Ho Chi Minh City

The Company‟s business fields are:

Trading in restaurant, keeping motors;

Business field (continue)

-The influence of the Company's business fields during the year on the Financial Statements

Accounting period and accounting monetary unit

The Company maintains its accounting records in VND

Accounting Standards and Accounting system

Accounting System

Announcement on compliance with Vietnamese standards and accounting system

Form of accounting record

Financial Instruments

Following activities

Films and television programs production;

Composing, artistry and entertainment activities: Holding professional artistry performance (not working athead office);

Organize trading introduction and promotion;

Vocational training;

Wholesale alcoholic and non-alcoholic beverages;

The company applies Vietnamese Accounting Standards and supplement documents issued by the State Financialstatements are prepared in accordance with regulations of each standard and supplement documents as well aswith current accounting system

The company is applying accounting record by computer

In the financial statements of the Company, the intra-group balances and transactions related to assets, equity,receivables and payable are eliminated in full

Financial statements of the Company are prepared based on summarization of transactions incurred, then recordedinto accounting books of dependent accounting entities and at the offices of the Company

Annual accounting period commences from 1st January and ends on 31st December

The company applies Enterprise Accounting System issued under Decision No.15/2006/QĐ-BTC dated 20 March,

2006 by Minister of Finance amended and supplemented in accordance 244/2009/TT-BTC 31/12/2009 Circular ofthe Minister of Finance

Financial statements are presented based on historical cost principle

In 2012, spongy bag products have environmental protection tax with amount 40,000/kg leading to product pricesincrease, reduce the purchasing power of consumers However, speed of reducing in sales is less than speed of theexpense because in production cost has fixed costs

Value added service on telecommunication network (not included Internet access agent services);

Financial Instruments

Initial recognition

Financial assets

Financial liabilities

Value after initial recognition

Cash and cash equivalents

Inventory is recorded by perpetual method

There are currently no regulations on revaluation of financial instruments after initial recognition

Method for valuation of work in process: work in progress is obtained based on direct material costs

Financial liabilities of the Company including loans, trade payables and other payables, accrued expenses Atinitial recognition, financial liabilities are determined by issuing price plus other expense directly related to theissuance of those liabilities

Cash and cash equivalents comprise cash on hand, cash in banks and short-term, highly liquid investments with anoriginal maturity of less than three months that are readily convertible into known amounts of cash and that aresubject to an insignificant risk of change in value

Financial assets of the Company including cash and cash equivalents, trade receivables and other receivables,lending, long-term and short-term investments At initial recognition, financial assets are identified by purchasingprice/issuing cost plus other expenses directly related to the purchase and issuance of those assets

Receivables is presented on the Financial statements according to book value of trade receivable and otherreceivables after deducting provision for bad receivable debts

Inventories are stated at original cost Where the net realizable value is lower than cost, inventories should bemeasured at the net realizable value The cost of inventories comprise the purchase price, costs of conversion andother costs incurred in bringing the inventories to their present location and condition

The cost of inventory at the year-end is calculated by weighted average method

Fixed assets and depreciation of fixed assets

Having maturity less than 1 year/1 operating cycle are recognized as short-term assets;

Investments in subsidiaries over which the Company has control rights are stated at original cost Distributionsfrom accumulated net profits from subsidiaries arising subsequent to the date of acquisition are recognized in theStatement of comprehensive income Other distributions received (in excess of such profits) are considered arecovery of investment and are deducted to the cost of the investment

Financial investment at the balance sheet date, if:

Intangible assets are the land use rights (the area at Plot II-3, Group CN2, Street No 11, Tan Binh Industrial Zone,Tay Thanh Ward, Tan Phu District, Ho Chi Minh City Total area of ​​9,987 square meters, expires at 17/06/2047)and management software In which, land use right includes the actual cost spent for land use rights and areamortized by straight-line method over useful life

Having maturity over than 1 year/1 operating cycle are recognized as long-term assets

Investment property is depreciated on a straight-line basis as other assets

Investments in associates over which the Company has significant influence are stated at original cost.Distributions from accumulated net profits from associates arising subsequent to the date of acquisition arerecognized in the Statement of comprehensive income Other distributions received (in excess of such profits) areconsidered a recovery of investment and are deducted to the cost of the investment

Investment in a joint venture entity is accounted by cost method and kept unadjusted thereafter for the postacquisition change in the venture's share of net assets of the joint venture entity The Statement of comprehensiveincome reflects the venture's share of the net accumulated profits of the joint venture entity arising as from thecontribution date

Investment property is recognised at historical cost During the period of waiting for capital appreciation or ofoperating lease, investment property is recorded at cost, accumulated depreciation and net book value

Bill and treasury bill, fixed deposit with maturity not over than 3 months from the date of acquisition arerecognised as “cash equivalents”;

For long term investments in other entities: the provision rate will be determined based on financial statements

of these entities

Owner‟s equity is stated at actually contributed capital of owners.

Other capital of owner is the fair value of assets offered to the company by other entities or individuals lesspayable taxes (if any) imposed on these assets; and the amount added from income statement

Dividends to be paid to shareholders are recognised as a payable in Statement of financial position afterdeclaration from the Board of Management

Premium reserve is recorded by the difference (over/under) between the selling price and the par value of treasurystocks when stocks are firstly or additionally issued or reissued Direct expenses related to the additional issuance

of shares or reissuing treasury stock is recorded to reduce the surplus capital stock

Treasury stocks is stocks issued and reacquired by the company Treasury stocks is stated at actual value andrepresented in Statement of Financial position as a deduction in owner‟s equity Profits (losses) are not recordedwhen the Company acquires, sells, issues or cancels treasury stocks

Borrowing costs are recognized into operating costs during the period, except for which directly attributable to theacquisition, construction or production of a qualifying asset included (capitalized) in the cost of that asset, whengather sufficient conditions as regulated in SAV No 16 “Borrowing costs”

The calculation and allocation of long-term prepaid expenses to profit and loss account in the period should bebased on nature of those expenses to select a reasonable method and allocated factors Prepaid expenses areallocated partly into operating expenses on a straight-line basis

Prepaid expenses only related to present fiscal year are recognised as short-term prepaid expenses and arerecorded into operating costs

Expenses not yet occurred may be charged in advance into production and operating costs in order to ensure whenthese expenses arise, they do not make material influence on production and operating costs on the basis ofsuitability between revenue and cost When these expenses arise, if there is any difference with the amountcharged, accountants additionally record or make decrease to cost equivalent to the difference

Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying assetthat takes more than 12 months to put into use under certified purposes or for sale should be included (capitalized)

in the cost of that asset, including interest on borrowings, amortization of discounts or premiums relating toissuing bonds and ancillary costs incurred in connection with the arrangement of borrowings

Prepaid expenses incurred during the year but related to business operations of several years are recorded as term prepaid expenses and are amortised to the income statement in several years

long-Foreign currency transactions

Cash on hand, Cash at

bank, Cash in transit

and short-term debts

Differences arising from revaluation atthe end of the year will be transferredinto financial income or expense

The balance of differences arising fromrevaluation at the year end shall berecorded on financial statements, andthen will be reversed at beginning of nextfiscal year

The stage of completion of the transaction at the balance sheet date can be measured reliably;

It is probable that the economic benefits associated with the transaction will flow to the Company;

The costs incurred for the transaction and the costs to complete the transaction can be measured reliably

Since 2012, the Company has changed its accounting policies on foreign currency transactions and differencearising from currency exchange following Decree 179/2012/TT-BTC replacing Decree 201/2009/TT-BTC dated15th October, 2009 of Ministry of Finance guiding on dealing with differences in currency exchange According

to the Decree, transaction currency other than booking currency of the Company (VND) will be recorded based onthe exchange rate at the date of transaction At the end of fiscal year, items denominated in foreign currency (Cash

on hand, Cash at bank, Cash-in-transit, accounts receivables, accounts payables excluding advances fromcustomers, advances to suppliers, revenue received in advance) will be revaluated according to the averageexchange rate of commercial banks that the Company opened accounts at the time of preparation of financialstatements All the exchange differences arising from settlement or revaluation of foreign currency at the year endwill be recorded into income statement In comparison with the year of 2011, the differences arising fromrevaluation of foreign currency at the year end will be recognized as follows:

Revenue from sale of goods should be recognized when all the following conditions have been satisfied:

The amount of revenue can be measured reliably;

The economic benefits associated with the transaction of goods sold have flown or will flow to the Company;The significant risks and rewards of ownership of the goods have been transferred to the buyer;

The amount of revenue can be measured reliably;

The costs incurred or to be incurred in respect of the transaction of goods sold can be measured reliably.Such changes in accounting policy will not apply retrospective to financial statements from 2011 backwards

The stage of completion of a transaction may be determined by surveys of work completed method

Revenue from rendering of services is recognized when the outcome of that transaction can be measured reliably.Where a transaction involving the rendering of services is attributable to several periods, each period‟s revenueshould be recognized by reference to the stage of completion at the balance sheet date The outcome of atransaction can be estimated reliably when all the following conditions are satisfied:

The Company retains neither continuing managerial involvement as a neither owner nor effective control overthe goods sold;

Expenses of capital lending and borrowing;

Dividends should be recognized when the Company‟s right to receive payment is established

The amount of the income can be measured reliably

Items recorded into financial expenses consist of:

It is probable that the economic benefits associated with the transaction will flow to the Company;

Provision for devaluation of securities investment

Income from interest, royalties and dividends and other financial income earned by the Company should berecognized when these two conditions are satisfied:

Loss due to foreign exchange differences arising from transactions relating to foreign currencies;

Expenses or losses relating to financial investment activities;

Current tax assets and liabilities for the current and prior periods are measured at the amount expected to berecovered from or paid to the taxation authorities The tax rates and tax laws used to compute the amount are those that are enacted by the balance sheet date

3 CASH AND CASH EQUIVALENTS

Receivables from social insurance

Receivables from health insurance

Receivables from unemployment insurance

2.645.000.000210.900.545

31/12/2012

26.091.918.679

32.495.8725.734.564

3.827.608.951

31/12/2012VND

12.100.000.000

VND

01/01/2012VND6.399.270.831

(*) The balance is the loans to employees with period less than 01 year, interest rate equal to the interest rate atCommercial banks trading with Company

Receivables from Sunflower Environmental Technology

Corporation (Sunet)

Receivable from dividends and profit of Au Lac Trading

Advertising Printing Joint Stock Company

Receivables from Au Lac Technology Applications and Media

Services Co.,Ltd