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CONDENSED INTERIM FINANCIAL STATEMENTS31 DECEMBER 2019R AV IT E × T I L EM I L SL I M I T E DBOARD OF DIRECTORS Mohammad WaseemurRehman Aft ab Salwar Tapir Marked Muhammad Ritz Muhammad Shahid Amir
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Prepare the balance sheet by listing all assets, liabilities, and equity accounts.
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List all revenues and expenses on the income statement, including any adjustments for interim periods.
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Calculate the net income or loss for the period.
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Publicly traded companies that are required to report quarterly financial results to shareholders and regulatory bodies.
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Private companies that want to provide stakeholders with updated financial information.
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Lenders or investors who require financial statements for making investment decisions.
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Condensed interim financial statements are summarized financial reports that cover a period shorter than a full fiscal year, usually a three or six month period.
Publicly traded companies are typically required to file condensed interim financial statements with the SEC.
Condensed interim financial statements are typically prepared by extracting key information from the full financial statements and presenting them in a more condensed format.
The purpose of condensed interim financial statements is to provide stakeholders with timely information on a company’s financial performance and position.
Condensed interim financial statements must include key financial data such as revenues, expenses, net income, and cash flows.
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