MANABAT SANAGUSTIN CO CPAs ADOR C MEJIA Partner CPA License No 0029620 SEC

Manabat sanagustin co cpas ador c mejia partner cpa

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2010 in accordance with Philippine Financial Reporting Standards. MANABAT SANAGUSTIN & CO., CPAs ADOR C. MEJIA Partner CPA License No. 0029620 SEC Accreditation No. 0464-AR-1 Tax Identification No. 112-071-634 BIR Accreditation No. 08-001987-10-2010 Issued June 30, 2010; Valid until June 29,2013 PTR No. 2639623MB Issued January 3, 2011 at Makati City July 18, 2011 Makati City, Metro Manila F-3 STATEMENT OF MANAGEMENT’S RESPONSIBILITY FOR CONSOLIDATED FINANCIAL STATEMENTS The management of Puregold Price Club, Inc. is responsible for all information and representations contained in the consolidated financial statements for the year (s) ended December 31, 2009, December 31, 2010 and June 30, 2011. The consolidated financial statements have been prepared in conformity with Philippine Financial Reporting Standards and
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reflect amounts that are based on the best estimates and informed judgment of management with an appropriate consideration to materiality. In this regard, management maintains a system of accounting and reporting which provides for the necessary internal controls to ensure that transactions are properly authorized and recorded, assets are safeguarded against unauthorized use or disposition and liabilities are recognized. The management likewise discloses to the company’s audit committee and to its external auditor: (i) all significant deficiencies in the design or operation of internal controls that could adversely affect its ability to record, process, and report financial data; (ii) material weaknesses in the internal controls; and (iii) any fraud that involves management or other employees who exercise significant roles in internal controls. The Board of Directors reviews the consolidated financial statements before such statements are approved and submitted to the stockholders of the company KPMG Manabat Sanagustin & Co., the independent auditors and appointed by the stockholders, has audited the consolidated financial statements of the Group in accordance with Philippine Financial Reporting Standards and has expressed its opinion on the fairness of presentation upon completion of such audit, in its report to stockholders. M/ LEONARDO B. A President 5 AN P. 60 Vi Chairman and Tmsurcr F-4 INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION ASSETS Current Assets Cash and cash equivalents ........... Investments in trading securities ....... Receivables — net ................. Merchandise inventory .............. Prepaid expenses and other current assets ........................ Total Current Assets ............... Noncurrent Assets Property and equipment — net ........ Deferred tax assets ................
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Other noncurrent assets ............. Total Noncurrent Assets ............ LIABILITIES AND EQUITY Current Liabilities Loans payable .................... Accounts payable and accrued expenses Income tax payable ................ Trust receipts payable .............. Other current liabilities .............. Total Current Liabilities ............ Noncurrent Liabilities Noncurrent accrued rent ............. Retirement benefits liability ........... Total Noncurrent Liabilities .........
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