Interim Financial Reporting in the Perspective of harmonization of the Romanian Accountancy with the International Financial Reporting Standards

Cristina Bunea-Bontas

MPRA Paper from University Library of Munich, Germany

Abstract: The main objective of the interim financial reporting is to present, timely and regularly, information concerning the enterprise’s capacity to generate earnings and cash flows and its financial position and liquidity. International Accounting Standard 34 “Interim Financial Reporting” concerns the financial statements for an interim period. According to IAS 34, the interim financial report includes a complete or condensed set of financial statements, elaborated for a shorter period than a full financial year. The accounting policies for recognition and measurement should be applied in the same way as they are applied in the annual financial statements. However, the preparation of the interim reports requires a greater use of estimation methods; the measurement procedures should be designed to ensure the correctness of all the resulting information provided to the users.

Keywords: interim financial reporting; interim report; interim period; recognition; measurement (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2007-07
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