VICTORIAS MILLING COMPANY, INC.

AND SUBSIDIARIES
Consolidated Financial Statements
August 31, 2013, 2012, 2011

FINANCIAL DISCLOSURE CHECKLIST

AUTIDA, MARYJOY MAEDAWNNA
DEL VALLE, DIOSETTE KATRINA
HINDANG, JEFFREY
KONG, CHRISTIAN LULU
LIGUTOM, GAUDENCIO QUINITO
MACABAYA, JERALD OLIVER
SANTOSIDAD, KRISTIE

Company Background
Victorias Milling Company, Inc. (VMC) is a
domestic corporation located in Victorias City,
Negros Occidental. Since its incorporation on
May 7, 1919, VMC has engaged in integrated
raw and refined sugar manufacturing.
VMC continues to lead all sugar centrals with
7,021,820 Lkg (1 Lkg = 50 kgs) of raw sugar
production which comprises 27.20% of
production share in Negros Occidental Province

 It also operates engineering services

and the following subsidiaries:
o
o
o
o
o

Victorias Foods Corporation (VFC),

Canetown Development Corporation (CDC)
Victorias Quality Packaging Corporation (VQPC),
Victorias Golf and Country Club, Inc. (VGCCI),
Victorias Agricultural Land Corporation (VALCO)

General Disclosures
All the necessary General Disclosures
including the additional disclosures
required by the Securities and Exchange
Commission were disclosed in Victorias
Milling Companys Consolidated Financial
Statements

GENERAL DISCLOSURES

YES

Components of Financial Statements

Identification of components
Display and repetition of information if necessary
Disclosure if FS comply with Phil. GAAP
Present basis for preparation, accounting policies
selected, disclose information not presented elsewhere
in FS required by SFAS and necessary for a fair
presentation
Disclosure that FS are fairly presented even with a
departure from a requirement of SFAS

FS presented in a systematic manner

SFAS applied for the first time
FS Cross reference
Comparatives
Going concern
Other general disclosure
Reporting companies under SRC
Date of authorization
Financial review by management

NO

N/A

Accounting Policies
As to Accounting Policies, all the
applicable information with regards to
Victorias Milling Companys accounting
policies was fairly presented in the
Consolidated Financial Statement

ACCOUNTING POLICIES

YES

GENERAL DISCLOSURES

SPECIFIC POLICIES

CHANGES IN ACCOUNTING POLICY

IMPAIRMENT OF ASSETS

NO

N/A

ASSOCIATES

JOINT VENTURES

SUBSIDIARIES

RELATED PARTY TRANSACTIONS

COMMITMENTS

CONTINGENT LIABILITIES AND

CONTINGENT ASSETS

EVENTS AFTER THE BALANCE SHEET

DATE

DISCONTINUING OPERATIONS

EARNINGS PER SHARE (EPS)

ACCOUNTING POLICIES (cont.)

YES

CONSTRUCTION CONTRACTS
DISCONTINUING OPERATIONS

NO

N/A

FUNDAMENTAL ERRORS

UNCERTAINTIES ABOUT GOING

CONCERN

DEPARTURE FROM GENERALLY

ACCEPTED
ACCOUNTING PRINCIPLE (GAAP)

CHANGE OF YEAR-END

INTERMEDIATE PARENT COMPANY

CONSOLIDATED FINANCIAL
STATEMENTS
NOT PRESENTED

 Victorias Milling Company, Inc. and

Subsidiaries disclosed all the necessary
disclosures and additional disclosures and
schedules as required by the Securities
and Exchange Commission. And the
financial statements prepared are in
accordance with generally accepted
accounting principles (GAAP) in the
Philippines.