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CA Intermediate · Advanced Accounting · AS 25 Interim Financial Reporting

Sundaram Textiles Ltd. prepares quarterly interim financial reports. For the quarter ended 30 September 2026, it publishes a condensed balance sheet, a condensed statement of profit and loss, a condensed cash flow statement and selected explanatory notes. Under AS 25, what is the minimum content of this interim financial report as to the form of presentation?

The minimum components under AS 25 are a condensed balance sheet, a condensed statement of profit and loss, a condensed cash flow statement and selected explanatory notes. A complete annual-style set is not mandatory, and leaving out any of these four components would not satisfy the standard's minimum content.

  1. AOnly a condensed statement of profit and loss
  2. BA complete set of financial statements identical to the annual report
  3. CCondensed balance sheet, condensed statement of profit and loss, condensed cash flow statement and selected explanatory notesCorrect
  4. DOnly a condensed balance sheet and explanatory notes

Explanation

AS 25 requires an interim financial report to include, at a minimum, 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 enterprise may choose to publish one. Options omitting the cash flow statement are incomplete.

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