LG 2002 Annual Report Download - page 27

LG Electronics Inc. IAnnual Report 2002 I50 51
(In millions of Korean Won)
The accompanying notes are an integral part of these non-consolidated financial statements.
Continued;
This report is effective as of January 25, 2003, the audit report date. Certain subsequent events or circumstances, which may occur between the audit report date
and the time of reading this report, could have a material impact on the accompanying non-consolidated financial statements and notes thereto. Accordingly, the
readers of the audit report should understand that there is a possibility that the above audit report may have to be revised to reflect the impact of such
subsequent events or circumstances, if any.
As discussed in Note 2 to the accompanying non-consolidated financial statements, the Company made an early adoption of Statement of Korean Financial
Accounting Standards (“ SKFAS” ) No. 6 on subsequent events for the nine-month period from April 1, 2002 to December 31, 2002. Accordingly, the
dividends included in the appropriations of retained earnings (draft) were not recognized as liabilities in the balance sheet as of December 31, 2002. The
effect of this early adoption of SKFAS No. 6 was to decrease liabilities and increase retained earnings as of December 31, 2002 by
￦ 157,431 million
Accounting principles and auditing standards and their application in practice vary among countries. The accompanying non-consolidated financial
statements are not intended to present the financial position, results of operations and cash flows in conformity with accounting principles and practices
generally accepted in countries and jurisdictions other than the Republic of Korea. In addition, the procedures and practices used in the Republic of Korea to
audit such financial statements may differ from those generally accepted and applied in other countries. Accordingly, this report and the accompanying non-
consolidated financial statements are for use by those who are knowledgeable about Korean accounting principles or auditing standards and their
application in practice.
Seoul, Korea
January 25, 2003
ASSETS
Current assets:
Cash and cash equivalents (Note 5)
￦ 17,176
Short-term financial instruments 766
Trade accounts and notes receivable, net (Notes 4, 5 and 22) 1,187,275
Inventories (Notes 6 and 8) 1,180,690
Other accounts receivable, net (Notes 4 and 5) 194,404
Prepaid expenses 67,896
Accrued income (Notes 4 and 5) 143,167
Advances (Note 4) 166,951
Derivatives transaction debit (Note 14) 2,110
Other current assets (Note 4) 2,174
Total current assets 2,962,609
Property, plant and equipment, net of accumulated depreciation (Notes 8 and 23) 2,893,372
Long-term financial instruments (Note 3) 8,729
Investment securities (Note 7) 2,652,630
Refundable deposits (Note 5) 293,619
Long-term trade accounts receivable (Note 4) 123
Long-term prepaid expenses 68,878
Deferred income tax assets, net (Note 19) 237,905
Long-term loans (Notes 4 and 22) 42,246
Intangible assets (Notes 9 and 23) 972,467
Total assets
￦￦
10,132,578
December 31, 2002
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