PPT: Accounting Standards (25) | Advanced Accounting for CA Intermediate PDF Download

 Page 1


Contents
• Objective
• Scope
• Form and Content of an interim financial statement
• Period for which interim financial statements are 
required to be presented
• Disclosure in Annual Financial Statements
• Recognition and Measurement
• Examples of applying the recognition and 
measurement principles
• Comparison
• Issues
Page 2


Contents
• Objective
• Scope
• Form and Content of an interim financial statement
• Period for which interim financial statements are 
required to be presented
• Disclosure in Annual Financial Statements
• Recognition and Measurement
• Examples of applying the recognition and 
measurement principles
• Comparison
• Issues
Objective 
• To prescribe :
- Minimum content of an interim financial 
report;
- Principles for recognition and 
measurement in a complete or condensed 
financial statements for an interim period
Page 3


Contents
• Objective
• Scope
• Form and Content of an interim financial statement
• Period for which interim financial statements are 
required to be presented
• Disclosure in Annual Financial Statements
• Recognition and Measurement
• Examples of applying the recognition and 
measurement principles
• Comparison
• Issues
Objective 
• To prescribe :
- Minimum content of an interim financial 
report;
- Principles for recognition and 
measurement in a complete or condensed 
financial statements for an interim period
Scope
• Does not mandate which enterprises should be 
required to present interim financial reports
• If an enterprise is required or elects to prepare and 
present interim financial report -the standard 
should be complied with
• The recognition and measurement principles as 
laid down in this standard should be applied in 
respect of information required to be given unless 
the statute requires otherwise.
Page 4


Contents
• Objective
• Scope
• Form and Content of an interim financial statement
• Period for which interim financial statements are 
required to be presented
• Disclosure in Annual Financial Statements
• Recognition and Measurement
• Examples of applying the recognition and 
measurement principles
• Comparison
• Issues
Objective 
• To prescribe :
- Minimum content of an interim financial 
report;
- Principles for recognition and 
measurement in a complete or condensed 
financial statements for an interim period
Scope
• Does not mandate which enterprises should be 
required to present interim financial reports
• If an enterprise is required or elects to prepare and 
present interim financial report -the standard 
should be complied with
• The recognition and measurement principles as 
laid down in this standard should be applied in 
respect of information required to be given unless 
the statute requires otherwise.
Scope...
• Cash flow statement, complete or 
condensed to be prepared if the enterprise 
presents cash flow statement for the 
purpose of its annual financial report
Page 5


Contents
• Objective
• Scope
• Form and Content of an interim financial statement
• Period for which interim financial statements are 
required to be presented
• Disclosure in Annual Financial Statements
• Recognition and Measurement
• Examples of applying the recognition and 
measurement principles
• Comparison
• Issues
Objective 
• To prescribe :
- Minimum content of an interim financial 
report;
- Principles for recognition and 
measurement in a complete or condensed 
financial statements for an interim period
Scope
• Does not mandate which enterprises should be 
required to present interim financial reports
• If an enterprise is required or elects to prepare and 
present interim financial report -the standard 
should be complied with
• The recognition and measurement principles as 
laid down in this standard should be applied in 
respect of information required to be given unless 
the statute requires otherwise.
Scope...
• Cash flow statement, complete or 
condensed to be prepared if the enterprise 
presents cash flow statement for the 
purpose of its annual financial report
Minimum Components of an 
Interim Financial Report
• An interim financial report should include
-condensed balance sheet
-condensed statement of profit and loss
-condensed cash flow statement and 
- selected explanatory notes