Skip to content

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

Meera Pharma Ltd is deciding the content of its quarterly interim report. Which description matches the definition of an 'interim financial report' in Ind AS 34?

An interim financial report is a financial report containing either a complete set of financial statements as described in Ind AS 1 or a set of condensed financial statements as described in Ind AS 34, for an interim period. It is not limited to one form or to profit and loss alone.

  1. AOnly a set of condensed financial statements for an interim period
  2. BOnly a complete set of financial statements as described in Ind AS 1
  3. CA financial report containing either a complete set of financial statements as per Ind AS 1 or a set of condensed financial statements for an interim periodCorrect
  4. DA report containing only the statement of profit and loss for the interim period

Explanation

Ind AS 34 defines an interim financial report as a financial report containing either a complete set of financial statements (as described in Ind AS 1) or a set of condensed financial statements (as described in Ind AS 34) for an interim period. Options limiting it to only one form or only profit and loss are inconsistent with this definition.

Did you get it right without looking?

One question tells you little. A timed set on Ind AS 34 Interim Financial Reporting shows your real accuracy, how long you take and where you lose marks.

Practise Ind AS 34 Interim Financial ReportingFree diagnostic mock

More Ind AS 34 Interim Financial Reporting questions