Beruflich Dokumente
Kultur Dokumente
Objective
Scope
Form and Content of an interim financial statement
Period for which interim financial statements are
required to be presented
Disclosure in Annual Financial Statements
Recognition and Measurement
Examples of applying the recognition and measurement
principles
Comparison
Issues
Objective
To prescribe :
Scope
Does not mandate which enterprises should be
required to present interim financial reports
If an enterprise is required or elects to prepare and
present interim financial report -the standard
should be complied with
The recognition and measurement principles as
laid down in this standard should be applied in
respect of information required to be given unless
the statute requires otherwise.
Scope...
Cash flow statement, complete or
condensed to be prepared if the enterprise
presents cash flow statement for the purpose
of its annual financial report
Minimum Components of an
Interim Financial Report
An interim financial report should include
-condensed balance sheet
-condensed statement of profit and loss
-condensed cash flow statement and
- selected explanatory notes
3 months ending
3 months ending
12 months ending
12 months ending
Contractual or anticipated purchase price changescontractual rebates and discounts are recognised but
discretionary rebates & discounts are not recognised.
Depreciation and amortisation- only on assets owned
during the interim period.
Inventories- similar as year end
Foreign currency translation gains and losses- same
principles as at year end ie in accordance with AS 11
Impairment of Assets- same impairment tests, recognition
and reversal criteria as at year end.
1st
Quarter
150
2nd
Quarter
(50)
52.5
(17.5)
(17.5)
4th
Quarter
100
40
Annual
400
140
Pre-tax
profits
Tax
Expense
1st
Quarter
100
2nd
Quarter
100
3rd
Quarter
100
4th
Quarter
100
30
30
30
30
Annual
400
40
Comparison
Particulars
Scope
Content
Notes
Indian
For companies who
are required or elect
to present
Balance Sheet
Profit and loss
Cash flow
Selected
explanatory notes
Half-yearly or
quarterly
Profit and losscurrent quarter,
cumulative year to
date and
comparable for the
preceding year
IAS
Encourages publicly traded
enterprises
US GAAP
Publicly traded companies
Additionally
Statement showing
(i)
all changes in equity
(ii)
changes in equity
other than those
arising from capital
transaction with
owners &
distribution to
owners
Similar to Indian
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