Jaunpils, 2018-06-26 14:31 CEST (GLOBE NEWSWIRE) -- In 2017, the annual report of the company was audited by LLC Deloitte Audits Latvia.
The auditors had a different opinion on certain items of the balance and accounting policy, as a result of which items were modified in the Balance and the Profit or Loss Statement of 2017:
An unaudited report was submitted before auditors had finalized auditing procedures, and the necessary corrections exceeded the level of significance determined by the auditor; therefore, it was decided to make corrections after finalizing of auditing procedures.
- In the calculation of depreciation of buildings and structures, the depreciation rate 5% starting from reconstruction period of buildings (previously from 1% to 1.2%). Decrease: 57,578 EUR.
- Labour and productive animals. It was decided to approve gradual decrease of value of bulls to the sales value. Decrease: 16,887 EUR
- Transfer of EU funding to income shall be implemented in accordance with the period of valid use of fixed asset. For reconstruction of buildings and structures, this period is 20 years (previously – 5 years). Increase: 46,643 EUR.
- The provisions for doubtful debts were increased by 3,364 EUR upon a recommendation by auditors.
More detailed information is available in the Note 29 of the annual report for 2017.
Board of SC Kurzemes ciltslietu un mākslīgās
apsēklošanas stacija
gatis.kakis@kcmas.lv
