WALC REIMBURSED VND850 MILLION TO EMPLOYEES IN CASH FOR...

2014, WALC reimbursed VND850 million to employees in cash for the fees they subscribed for courses inadvance.If the employees who are sponsored by WALC have to re-sit an exam after their first unsuccessful attempt, WALCwill advance them the exam fees for these subsequent attempts (with invoices issued to the employees) andclaim reimbursement from the employees by deduction from their salary. For accounting purposes, WALC recordsthe whole advance as administrative expenses and the amounts claimed back as other income. The totaladvances for 2014 amounted to VND550 million, of which WALC had claimed back VND350 million by 31 December 2014.