7.2 ACCOUNTING PRINCIPLES FOR INTERIM FINANCIAL STATEMENTS
7.2.1 Principal Accounting Pronouncements on Interim Financial Information
IAS 34, Interim Financial Reporting, and IFRIC 10, Interim Financial Reporting and Impairment, are the main IFRS pronouncements on interim reporting. Other authoritative literature that explicitly refers to this subject includes IFRS 1, First-Time Adoption of International Financial Reporting Standards, as well as other Standards and Interpretations that on occasion dictate specific treatments for the purpose of interim financial statements,1 such as those listed in Exhibit 7-1.
18.104.22.168 U.S. GAAP
Under U.S. GAAP, Subtopic 270-10 (Accounting Principles Board Opinion No. 28, Interim Financial Reporting, as amended), is the main source on interim reporting, complemented by other pronouncements, such as those mentioned in Exhibit 7-2. Of course, under both U.S. GAAP and IFRSs, many authorative pronouncements require or permit specific transitional provisions in the interim periods of their initial application.