Sie sind auf Seite 1von 22

Interim

Reporting

Edited by Taufik Hidayat

Interim Financial Reporting

Interim reports cover a time period of less


than one year
Publicly held companies are required to
publish quarterly reports
The quarterly report is, in many ways, a
smaller version of the annual report

Edited by Taufik Hidayat

13-2

Interim Financial Reporting

X.K.2 Bapepam, quarterly report:


This must be filed within a month after the
end of each of the first three quarters for
unaudited F/S.
This must be filed within two months after
the end of each of the first three quarters for
limited reviewed F/S.
This must be filed within three months after
the end of each of the first three quarters for
audited F/S.
Edited by Taufik Hidayat

13-3

Minimum components of an interim


financial report
Items in interim financial reports:
1. a condensed statement of financial position.
2. a condensed statement of comprehensive
income, presented as either;
1. a condensed single statement; or
2. a condensed separate income statement and a
condensed statement of comprehensive income;.

Edited by Taufik Hidayat

13-4

Periods Required to be Presented


Interim reports shall include the period:
1. Statement of financial position as of the end of
the current interim period and a comparative
statement of financial position as of the end of
the immediately preceding financial year.
2. Statements of comprehensive income for the
current interim period and cumulatively for the
current financial year to date, with comparative
statements of comprehensive income for the
comparable interim periods (current & year-todate) of the immediately preceding financial
year.
Edited by Taufik Hidayat

13-5

Periods Required to be Presented


Interim reports shall include the period:
3. Statement of changes in equity cumulatively for
the current financial year to date, with a
comparative statement for the comparable yearto-date period of the immediately preceding
financial year.
4. Statement of cash flows cumulatively for the
current financial year to date, with a
comparative statement for the comparable yearto-date period of the immediately preceding
financial year.
Edited by Taufik Hidayat

13-6

Periods Required to be Presented


Entity publishes interim financial reports halfyearly:

Edited by Taufik Hidayat

13-7

Periods Required to be Presented


Entity publishes
quarterly:

interim

Edited by Taufik Hidayat

financial

reports

13-8

Recognition & Measurement


An entity shall apply the same accounting
policies in its interim financial statements as
are applied in its annual financial
statements,

except for accounting policy changes made after


the date of the most recent annual financial
statements that are to be reflected in the next
annual financial statements.

In deciding how to recognize, measure, classify,


or disclose an item for interim financial reporting
purposes, materiality shall be assessed in
relation to the interim period financial data.
Edited by Taufik Hidayat

13-9

Recognition & Measurement


Revenues that are received seasonally,
cyclically, or occasionally within a financial
year shall not be anticipated or deferred as of
an interim date if anticipation or deferral would
not be appropriate at the end of the entity's
financial year.
Costs that are incurred unevenly during an
entity's financial year shall be anticipated or
deferred for interim reporting purposes if, and
only if, it is also appropriate to anticipate or
defer that type of cost at the end of the financial
year.
Edited by Taufik Hidayat

13-10

Accounting Changes in Interim Periods


Change in an accounting principle
Restating the financial statements of prior
interim periods of the current financial year
and the comparable interim periods of any
prior financial years that will be restated in
the annual financial statements.
when it is impracticable, apply the new
accounting policy prospectively from the
earliest date practicable.

Edited by Taufik Hidayat

13-11

Reporting Standards for Interim


Income Statements

13-12

Reporting Standards for Interim


Income Statements
Revenue
The measurement basis used in an interim
period should be the same as that used for the
full fiscal year.
Revenue from seasonal businesses cannot be
manipulated to eliminate seasonal trends.

13-13

Reporting Standards for Interim


Income Statements
Cost of goods sold and inventory
General rule: Interim cost of goods sold should
be computed with the direct and allocated cost
elements on the same basis as used to
compute the annual cost of goods sold.

13-14

Reporting Standards for Interim


Income Statements
All other costs and expenses
General principle: Costs and expenses should
be charged to interim income in the interim
period in which they are incurred.
Some costs and expenses however, are
allocated among the interim periods based on:

An estimate of time used


An estimate of benefit received, or
Activity level of the interim period

13-15

Reporting Standards for Interim


Income Statements
Disposal of a component or extraordinary,
unusual, infrequently occurring, and contingent
items
Measurement and reporting on the same bases as
used to prepare the annual report.
Extraordinary items, discontinued operations, and
unusual and infrequently occurring items should be
reported in the interim period in which they occur.
The materiality test for extraordinary items should
be based on the income estimate for the entire
fiscal year.
13-16

Reporting Standards for Interim


Income Statements
Disposal of a component or extraordinary,
unusual, infrequently occurring, and contingent
items
The materiality test for discontinued operations and
unusual and infrequent transactions should be
based on the operating income of the interim period
in which the discontinued operations are first
reported.
Contingencies that could affect the company also
must be disclosed on the same basis as that used in
the annual report.
13-17

Accounting Changes in Interim Periods


Change in an accounting principle
Requires retrospective application.
Only the direct effects of the change, including
any related tax effects, are included in the
retrospective application.
A change from an accounting principle not
generally accepted to a generally accepted
accounting principle is a correction of an error,
requiring restatement of all prior financial
statements.
13-18

Accounting Changes in Interim Periods


Change in an accounting estimate
The result of new information that becomes
available to the entity.
These changes are reported on a current and
prospective basis only.

13-19

Accounting Changes in Interim Periods


Change in a reporting entity
Requires retrospective application.
Primary examples of changes:

Presenting consolidated or combined financial


statements rather than individual statements for the
separate entities.
Changing the specific subsidiaries that comprise the
consolidated entity for which consolidated financials
are presented.
Changing the entities that are included in combined
financial statements.
13-20

Accounting Changes in Interim Periods


International Financial Reporting Standards
for accounting changes
IAS 8 provides the accounting treatment and
disclosures for changes in accounting policies,
changes in accounting estimates, and
corrections of errors.

13-21

Conclusion

The
The End
End

13-22
13-22