Understanding scope of Interim Financial Statements

 

What is an Interim Statement?

An interim financial statement or an interim financial report, is a detailed report of accounting, which covers all the business activities within less than one financial year. Usually, companies generate interim reports/ statements on the basis of monthly, quarterly, semi-annually, or at any other time duration within one year.



Conclusion:


In comparison to the annual statement, there might be some foundational differences between the two. But the use, relevance and impact of an interim financial statement is no less. It is equally important in the decision-making of the company and its shareholders. Many interim financial reporting services ensure that the above aspects are well taken care of.


Original source: https://www.resurgentindia.com/understanding-scope-of-interim-financial-statements

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