Tiếng Việt
普通话
The accounting policy for recording wage expenses of the company is that “Wage fund is made on actual revenue multiplied with pay rate approved by the Vietnam National Chemical Group (Vinachem) at the end of the fiscal year”.
As the pay rate is only approved by Vinachem at the end of the fiscal year, LIX temporarily calculated wage fund according the payroll approved in 2011 as a basis for recording wage expense in H1/2012. At the end of the year, based on the decision of Vinachem, LIX will recalculate the wage fund for necessary adjustments.