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INTERIM FINANCIAL STATEMENTS IAS 34 explained (30 June 2014) (Including an illustrative example)This publication is presented in two parts. Part I explains IAS 34 Interim Financial Reporting and provides
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To fill out interim financial statements, follow these steps:
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Gather all relevant financial data and documents, such as balance sheets, income statements, cash flow statements, and notes to the financial statements.
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Review and reconcile the financial data to ensure accuracy and consistency.
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Prepare a summary of financial results for the given interim period, including net profit or loss, revenues, expenses, and cash flows.
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Include any necessary disclosures and footnotes to provide additional context and explanation for the financial statements.
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Review the completed interim financial statements for any errors or inconsistencies.
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Obtain necessary approvals and sign-offs as required by the company or regulatory authorities.
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Distribute the interim financial statements to relevant stakeholders, such as management, shareholders, potential investors, and regulatory bodies.
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Periodically review and update the interim financial statements as new information becomes available or the reporting period changes.

Who needs interim financial statements?

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Interim financial statements are typically needed by:
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- Investors and potential investors, who rely on these statements to assess the financial health and performance of a company.
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- Management and board of directors, as they need timely and accurate financial information for decision-making and strategic planning.
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- Analysts and financial professionals, who analyze and interpret the financial statements to provide insights and recommendations.

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