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INTERIM FINANCIAL REPORTING

Introduction – IAS 34

• IAS 34 deals with interim financial reporting.

• Normally financial statements are prepared for

financial periods of a full year.

• However, this leaves users of financial statements

without any information surrounding the financial
performance of a company for a period of at least

twelve months.

• Interim financial reporting is aimed at providing users

of financial statements with financial information at
regular intervals of shorter than a year (usually every

six months, but may also be quarterly).

• IAS 34 has as its objective to prescribe the minimum

content of these interim financial statements and to

prescribe the principles for recognition and
measurement.

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