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CA Final · Financial Reporting · Ind AS 34 Interim Financial Reporting

Kaveri Engineering Ltd has to publish a half-yearly report. Its CFO describes it as a 'financial report containing either a complete set of financial statements or a set of condensed financial statements for an interim period'. Which term does Ind AS 34 use for this?

The term is interim financial report. Ind AS 34 defines it as a financial report containing either a complete set of Ind AS 1 financial statements or a set of condensed financial statements for an interim period, so Kaveri's half-yearly report fits this definition.

  1. AInterim financial reportCorrect
  2. BAnnual financial statements
  3. CSpecial purpose financial report
  4. DConsolidated summary statement

Explanation

Paragraph 4 defines an interim financial report as a financial report containing either a complete set of financial statements (per Ind AS 1) or a set of condensed financial statements for an interim period. The other terms are not defined this way.

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