7.4 REPORTING ENTITIES
7.4.1 Types of Entities
18.104.22.168 Privately versus Publicly Held Companies
Interim reporting under IAS 34 may concern any type of entity. In fact, IAS 34 chooses not to define which entities have to publish interim financial statements, although it encourages publicly traded entities to do so.57
Subtopic 270-10 (APB 28) does not limit its scope to publicly traded companies either. It modifies certain practices under U.S. GAAP for the purpose of the application to interim reporting.59 However, it does not mention whether circumstances exist under which a nonpublic company has to produce interim reports. As mentioned, it postulates minimum disclosure requirements, especially for those publicly traded companies that produce summarized interim financial information.
22.214.171.124 IFRS for SMEs
IFRS for SMEs scopes out reporting on an interim basis, segment reporting, and the presentation of earnings per share. Nevertheless, this fact does not entail that such companies are prohibited from issuing (and publishing) interim ...