LETV 2017 huge loss 13 billion 800 million become A share listed company loss king

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 LETV 2017 huge loss 13 billion 800 million become A share listed company loss king


In addition, the announcement shows that the balance of debt owed by Jia Yueting controlled by the relevant parties amounted to 7 billion 300 million yuan, accounting for about 40% of the total assets of LETV. If you see the net assets of the music network, by the end of 2017, the net assets of the music network are only 663 million yuan, that is, the balance of the above related parties is 11 times the net net assets of the music vision network. Another major concern in the financial statement was that the CPA firm issued an audit report incapable of expressing opinions and listed the matters described in the basis for the formation of an incapable of expressing opinions, involving accounts receivable and other receivables. The reason for the huge loss of LETV in 2017 lies in the large amount of accounts receivable. Music network previously in the performance express, said at one breath of about 4 billion 400 million yuan of relevant party receivables to prepare for bad debt preparation and about 3 billion 500 million yuan of long-term asset reduction preparation. According to the previous announcement, in 2017, the net profit deficit of the music network expanded, and music as a result of poor receivables receivable from related parties or one of the reasons. The letter said that in the process of auditing, sufficient and appropriate audit evidence could not be obtained on the preparation of the receivables for bad debts. It was not possible to obtain effective evidence through the implementation of the letter of correspondence or to implement an alternative audit procedure for the recoverability of the above receivable. Therefore, it is impossible to determine whether it is necessary to make adjustments to the relevant accounts receivable and other receivables balance and bad debt preparation items. LETV has failed to obtain the audit report of the audit institution without reservation for two consecutive years. For the annual report of the 2016 year of music vision, the accounting audit institution at that time had issued a unreserved opinion with the paragraph of emphasis around the related transactions, and prompted the investors to pay attention to the notes. Source: Beijing News instant news Author: Jiang Bo editor in charge: Li Tian Yi _NN7528 The reason for the huge loss of LETV in 2017 lies in the large amount of accounts receivable. Music network previously in the performance express, said at one breath of about 4 billion 400 million yuan of relevant party receivables to prepare for bad debt preparation and about 3 billion 500 million yuan of long-term asset reduction preparation. According to the previous announcement, in 2017, the net profit deficit of the music network expanded, and music as a result of poor receivables receivable from related parties or one of the reasons. The letter said that in the process of auditing, sufficient and appropriate audit evidence could not be obtained on the preparation of the receivables for bad debts. It was not possible to obtain effective evidence through the implementation of the letter of correspondence or to implement an alternative audit procedure for the recoverability of the above receivable. Therefore, it is impossible to determine whether it is necessary to make adjustments to the relevant accounts receivable and other receivables balance and bad debt preparation items. LETV has failed to obtain the audit report of the audit institution without reservation for two consecutive years. For the annual report of the 2016 year of music vision, the accounting audit institution at that time had issued a unreserved opinion with the paragraph of emphasis around the related transactions, and prompted the investors to pay attention to the notes.