Attached files
| file | filename |
|---|---|
| 8-K/A - LAKELAND INDUSTRIES INC | v176896_8ka.htm |
| EX-10.27 - LAKELAND INDUSTRIES INC | v176896_ex10-27.htm |
| EX-10.26 - LAKELAND INDUSTRIES INC | v176896_ex10-26.htm |
| EX-10.29 - LAKELAND INDUSTRIES INC | v176896_ex10-29.htm |
| EX-10.24 - LAKELAND INDUSTRIES INC | v176896_ex10-24.htm |
| EX-10.25 - LAKELAND INDUSTRIES INC | v176896_ex10-25.htm |
| EX-10.28 - LAKELAND INDUSTRIES INC | v176896_ex10-28.htm |
| EX-10.23 - LAKELAND INDUSTRIES INC | v176896_ex10-23.htm |
Exhibit
10.30
NOTES TO: QUALYTEXTIL
SA - Reconciliation of Brazilian GAAP to US
GAAP
Three
months ended April 30, 2008
|
(a)
Reclassify interest expense and interest income out of "net
financial"
|
|||||
|
(b)
Capital reserve reversal recognized as income
|
(b)
|
47,944 | |||
|
(c) Reclassify
a government VAT tax incentive as a reduction of cost of goods
sold
|
(c
)
|
94,149 | |||
|
(d)
Not used
|
|||||
|
(e)
Net adjustment to administrative expenses
|
|||||
|
Legal
fees not accrued under Brazilian GAAP - difference in opening and ending
accruals
|
(1,348 | ) | |||
|
Management
compensation not accrued under Brazilian GAAP - charge to earlier
period
|
(107,266 | ) | |||
|
Outsourcing
sales contractor invoices recorded one month in arrears - difference in
opening and ending accruals
|
15,457 | ||||
|
Outsourcing
labor contractor invoices recorded one month in arrears - reverse
beginning accrual
|
(22,930 | ) | |||
|
(e)
Net adjustment to administrative expenses
|
(e)
|
(116,087 | ) | ||
|
(f) Net
adjustment to cost of goods sold
|
|||||
|
inventory
reserve not recorded under Brazilian GAAP - charged to earlier
periods
|
(73,367 | ) | |||
|
reclassify
a government VAT tax incentive (ICMS) as a reduction of cost of goods
sold
|
(c
)
|
(94,149 | ) | ||
|
Outsourcing
labor contractor invoices recorded one month in arrears - reverse
beginning accrual
|
(48,106 | ) | |||
|
(f) Net
adjustment to cost of goods sold
|
(f)
|
(215,622 | ) | ||
|
(g) Income
tax accrual to adjust to US GAAP income
|
(g)
|
52,760 | |||
|
(h) The
three month statement of profit and loss has been derived from the
internally generated monthly financial statements. These financial
statements have been translated using the rate applicable to each month.
The exchange rate of $1.71288 represents a weighted average of the monthly
rates used.
|
|||||