alleryStart learning →An interim report mainly gives users:
AA repeat of the annual report
BA forecast of next year profit
CAn update on the annual report
DA list of all taxes paid
Answer & Solution
Correct answer: C. An update on the annual report
Because users already hold the annual report, the interim report concentrates on new activities, events and circumstances instead of repeating older information.
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Related questions
A reporter more frequent than half-yearly measures income and expenses on what basis?Versus IAS 34, Ind AS 34 allows profit and loss in:Ind AS 34 Appendix A on interim reporting and impairment matches which interpretation?Ind AS 36 states that an impairment loss recognised for goodwill:The ban on reversing interim goodwill impairment is extended by analogy to other areas:Goodwill impairment booked in an interim period is later:Why must a policy change cover the whole financial year?A change in accounting policy at an interim date is reflected by: