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CA Intermediate · Advanced Accounting · AS 25 Interim Financial Reporting

Sundaram Textiles Ltd, a listed company, prepares its quarterly results for the quarter ended 30 September 2026 in accordance with AS 25. Which of the following statements about the minimum components of an interim financial report is correct?

An interim report under AS 25 must at minimum include a condensed balance sheet, a condensed statement of profit and loss, a condensed cash flow statement and selected explanatory notes. A full set of annual statements is not required, though an entity may choose to publish one.

  1. AIt must contain a condensed balance sheet, condensed statement of profit and loss, condensed cash flow statement and selected explanatory notesCorrect
  2. BIt must contain only a condensed statement of profit and loss
  3. CIt must contain a complete set of financial statements as prepared for the annual report
  4. DIt must contain a condensed balance sheet and condensed statement of profit and loss, but a cash flow statement is prohibited

Explanation

AS 25 requires an interim financial report to include, at a minimum, a condensed balance sheet, condensed statement of profit and loss, condensed cash flow statement and selected explanatory notes. A complete set is not required, and the cash flow statement is not prohibited.

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