Wiley IFRS 2014: Interpretation and Application of International Financial Reporting Standards

Chapter 34INTERIM FINANCIAL REPORTING

1. INTRODUCTION
2. DEFINITIONS OF TERMS
3. RECENT AMENDMENTS
4. ALTERNATIVE CONCEPTS OF INTERIM REPORTING
5. OBJECTIVES OF INTERIM FINANCIAL REPORTING
6. APPLICATION OF ACCOUNTING POLICIES
   1. 1. Consistency
      2. Consolidated reporting requirement
   1. Materiality As Applied to Interim Financial Statements
7. PRESENTATION
   1. Content of an interim financial report
   2. Minimum components of an interim financial report
   3. Form and content of interim financial statements
   4. Significant events and transactions
   5. Other disclosures
   6. Comparative interim financial statements
8. RECOGNITION ISSUES
   1. 1. General concepts
      2. Recognition of annual costs incurred unevenly during the year
      3. Revenues received seasonally, cyclically, or occasionally
      4. Income taxes
      5. Multiplicity of taxing jurisdictions and different categories of income
      6. Tax credits
      7. Tax loss tax credit carrybacks and carryforwards
      8. Volume rebates or other anticipated price changes in interim reporting periods
      9. Depreciation and amortization in interim periods
      10. Inventories
   1. Foreign Currency Translation Adjustments at Interim Dates
   2. Adjustments to Previously Reported Interim Data
   3. Accounting Changes in Interim Periods
      1. Use of estimates in interim periods
      2. Impairment of assets in interim periods
      3. Interim financial reporting in hyperinflationary economies
9. US GAAP COMPARISON

INTRODUCTION

Interim financial reports are financial statements covering periods of less than a full fiscal year. Most commonly such reports will be for a period of three months (which ...