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Alizz Islamic Bank SAOG UNAUDITED INTERIM CONDENSED FINANCIAL STATEMENTS 31 March 2018Alizz Islamic Bank SAOG INTERIM CONDENSED STATEMENT OF FINANCIAL POSITION As at 31 March 2018 Notes(Unaudited)
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Condensed interim financial statements are financial reports for a period shorter than a full fiscal year, typically covering three or six months, that provide a summarized view of a company's financial position, performance, and cash flows.
Publicly traded companies and certain other entities that meet specific regulatory requirements are required to file condensed interim financial statements.
To fill out condensed interim financial statements, entities should summarize their financial information, ensuring that they include key sections like the balance sheet, income statement, and cash flow statement. They should follow the relevant accounting standards such as IFRS or GAAP.
The purpose of condensed interim financial statements is to provide timely financial information to stakeholders for better decision-making, maintaining transparency, and assessing the ongoing financial condition of the entity between full fiscal periods.
Condensed interim financial statements must report key financial data including total income, expenses, net profit or loss, assets, liabilities, and equity. It may also include explanatory notes for significant events occurring during the interim period.
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