JihSun Financial: Jih Sun FHC announces the actual effect of adopting a new accounting policy from 2022.

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Declaration

1.Date of the board of directors resolution:2022/02/23
2.Nature of the change:Change of accounting policy
3.Reason for the change: The accounting policy for the follow-up measurement
of investment property has been changed from a cost model to a fair value
model.
4.Each line item affected and the actual effect for
the fiscal year before the fiscal year changed by
retrospective application of the accounting policy change:
(1) The actual effect on the consolidated balance sheet of 2021/01/01:
The investment property has been increased by NT$67,312,000.
The deferred income tax assets have been increased by NT$29,315,000.
The deferred income tax liabilities have been increased by NT$16,886,000.
The net worth has been increased by NT$79,741,000.
(2) The actual effect on the consolidated balance sheet of 2021/12/31:
The investment property has been increased by NT$70,877,000.
The property and equipment have been increased by NT$4,144,000.
The deferred income tax assets have been increased by NT$32,202,000.
The deferred income tax liabilities have been increased by NT$16,701,000.
The retained earnings has been increased by NT$83,762,000.
The net worth has been increased by NT$90,522,000.
(3) The actual effect on the 2021 consolidated comprehensive income
statement:
The gain on valuation of property has been decreased by NT$2,271,000.
The depreciation and amortization expenses have been decreased by
NT$3,220,000.
The income tax expense has been decreased by NT$3,072,000.
The net profit of 2021 has been increased by NT$4,021,000.
The other comprehensive income of 2021 has been increased by NT$6,760,000.
The total comprehensive income of 2021 has been increased by NT$10,781,000.
5.Actual effect on the opening balance of retained earnings
 for the last fiscal year:On January 1,2021, the retained earnings
has been increased by NT$79,741,000.
6.Reasons of the material difference between the actual
effect of the accounting policy change and the original
projected effect announced and filed:Not applicable
7.The CPA opinion on the reasonableness of the aforementioned
reasons of difference:Not applicable
8.Dissenting or qualified opinion from independent directors:None
9.Countermeasures:The board of directors of the Company has approved this case
on 2022/02/23. We have received the reply from the Financial Supervisory
Commission on 2022/02/11 under Letter of Jin-Guan-Yin-Kong-Zi No.1100236036
that the Company itself does not hold investment property, however,
Jih Sun Securities Co., Ltd. and Jih Sun International Commercial Bank
subsidiaries have hold the investment property in the consolidated financial
statements which have separately applied to the Financial Supervisory
Commission and obtained the approval in accordance with the Regulations
Governing the Preparation of Financial Reports of their belonging industry.
Therefore, the Company is not required to apply for approval in accordance
with Article 6, Item 1 of the Regulations Governing the Preparation of
Financial Reports by Financial Holding Companies.
10.Any other matters that need to be specified:None.
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