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Rossi Residencial SA Adjusts Accounting Policies Adapted Retrospectively as from January 1, 2009


Thursday, 4 Oct 2012 04:08pm EDT 

Rossi Residencial SA announced that it filed its quarterly information form for the quarter ended on June 30, 2012. In order to improve the collection of its financial statements, the Administration with the support of independent auditor its accounting policies used in previous exercises and concluded by modifying them retrospectively as from January 1, 2009. None of these adjustments took effect at the cash balance and the cash equivalents of the Company. Most of them result in mere temporal shift in recognition of net revenues and costs not constituting a write-down which would have a permanent effect of the net worth of the Company. The adjustments can be divided on the basis of its accounting effects into those that cause temporal displacement of revenues and costs recognition which caused permanent adjustment of the net equity of the Company. Detailed information on the adjustments is available in the explication note number 2.24 in the quarterly financial statement document mentioned above. 

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1.64
0.02 +1.23%
11 Jul 2014