Interim Financial Reporting in the Perspective of Harmonization of the Romanian Accountancy with the International Financial Reporting Standards

Romania within the EU: Opportunities, Requirements and Perspectives. International Conference, Sibiu, 2007

6 Pages Posted: 14 Jul 2009

Date Written: May 1, 2007

Abstract

The main objective of the interim financial reporting is to present, timely and regularly, information concerning the enterprise’s capacity to generate earnings and cash flows and its financial position and liquidity. International Accounting Standard 34 “Interim Financial Reporting” concerns the financial statements for an interim period. According to IAS 34, the interim financial report includes a complete or condensed set of financial statements, elaborated for a shorter period than a full financial year. The accounting policies for recognition and measurement should be applied in the same way as they are applied in the annual financial statements. However, the preparation of the interim reports requires a greater use of estimation methods; the measurement procedures should be designed to ensure the correctness of all the resulting information provided to the users.

Keywords: interim financial reporting, interim report, interim period, recognition, measurement

JEL Classification: M41

Suggested Citation

Bunea-Bontas, Cristina Aurora, Interim Financial Reporting in the Perspective of Harmonization of the Romanian Accountancy with the International Financial Reporting Standards (May 1, 2007). Romania within the EU: Opportunities, Requirements and Perspectives. International Conference, Sibiu, 2007, Available at SSRN: https://ssrn.com/abstract=1433711

Cristina Aurora Bunea-Bontas (Contact Author)

Constantin Brancoveanu University ( email )

Ribinelor 14-16