- 8 Marks
CR – May 2024 – L3 – SC – Q5a – Interim Financial Reporting (IAS 34)
Discuss the IAS 34 recommendations on interim reporting conditions and required disclosures.
Question
IAS 34 – Interim Financial Reporting does not make preparation of interim financial report mandatory, viewing it as a matter for government, security regulators, stock exchanges, or professional accountancy bodies within each country. However, the IASB strongly recommends that interim financial reporting be a requirement for companies whose equity or debt securities are publicly traded.
Required:
(i) Discuss the conditions under which IAS 34 encourages publicly traded entities to publish their interim reports. (3 Marks)
(ii) Identify and explain the notes that should be included in the interim report of traded entities in accordance with IAS 34. (5 Marks)
Find Related Questions by Tags, levels, etc.
Report an error