International Accounting Standard (IAS) 34 «Interim Financial Reporting»

Contents

paragraphs

INTRODUCTION

IN1-IN9

INTERNATIONAL ACCOUNTING STANDARD 34 INTERIM FINANCIAL REPORTING

OBJECTIVE

SCOPE

1-3

DEFINITIONS

4

CONTENT OF AN INTERIM FINANCIAL REPORT

5-25

Minimum components of an interim financial report

8

Form and content of interim financial statements

9-14

Selected explanatory notes

15-18

Disclosure of compliance with IFRSs

19

Periods for which interim financial statements are required to be presented

20-22

Materiality

23-25

DISCLOSURE IN ANNUAL FINANCIAL STATEMENTS

26-27

RECOGNITION AND MEASUREMENT

28-42

Same accounting policies as annual

28-36

Revenues received seasonally, cyclically, or occasionally

37-38

Costs incurred unevenly during the financial year

39

Applying the recognition and measurement principles

40

Use of estimates

41-42

RESTATEMENT OF PREVIOUSLY REPORTED INTERIM PERIODS

43-45

EFFECTIVE DATE

46

APPENDICES

A   Illustration of periods required to be presented

B   Examples of applying the recognition and measurement principles

C   Examples of the use of estimates

International Accounting Standard 34 Interim Financial Reporting (IAS 34) is set out in paragraphs 1-46. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 34 should be read in the context of its objective, the Preface to International Financial Reporting Standards and the Framework for the Preparation and Presentation of Financial Statements. IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.