Please provide summary on Ind AS 34 - Interim Financial Reporting

The objective of this Standard is to prescribe the minimum content of an interim financial report and to prescribe the principles for recognition and measurement in complete or condensed financial statements for an interim period. Timely and reliable interim financial reporting improves the ability of investors, creditors, and others to understand an entity’s capacity to generate earnings and cash flows and its financial condition and liquidity. This Standard does not mandate which entities should be required to publish interim financial reports, how frequently, or how soon after the end of an interim period. However, governments, securities regulators, stock exchanges, and accountancy bodies often require entities whose debt or equity securities are publicly traded to publish interim financial reports1. This Standard applies if an entity is required or elects to publish an interim financial report in accordance with Ind – AS. Each financial report, annual or interim, is evaluated on its own for conformity to Ind ASs. The fact that an entity may not have provided interim financial reports during a particular financial year or may have provided interim financial reports that do not comply with this Standard does not prevent the entity’s annual financial statements from conforming to Ind ASs if they otherwise do so. If an entity’s interim financial report is described as complying with Ind ASs, it must comply with all of the requirements of this Standard.

Please provide summary on Ind AS 34 - Interim Financial Reporting The objective of this Standard is to prescribe the minimum content of an interim financial report and to prescribe the principles for recognition and measurement in complete or condensed financial statements for an interim period. Timely and reliable interim financial reporting improves the ability of investors, creditors, and others to understand an entity’s capacity to generate earnings and cash flows and its financial condition and liquidity. This Standard does not mandate which entities should be required to publish interim financial reports, how frequently, or how soon after the end of an interim period. However, governments, securities regulators, stock exchanges, and accountancy bodies often require entities whose debt or equity securities are publicly traded to publish interim financial reports1. This Standard applies if an entity is required or elects to publish an interim financial report in accordance with Ind – AS. Each financial report, annual or interim, is evaluated on its own for conformity to Ind ASs. The fact that an entity may not have provided interim financial reports during a particular financial year or may have provided interim financial reports that do not comply with this Standard does not prevent the entity’s annual financial statements from conforming to Ind ASs if they otherwise do so. If an entity’s interim financial report is described as complying with Ind ASs, it must comply with all of the requirements of this Standard.

Dear Friend > Ind AS 34 - Interim Financial Reporting Ind AS 34 sets out criteria to determine what information should be disclosed in the interim financial statements. These include the following: 1. Materiality on the overall interim financial statements 2. Unusual or irregular items 3. Changes since previous reporting periods that have had a significant effect on the interim financial statements (of the current or previous reporting financial year) 4. Relevance to the understanding of estimates used in the interim financial statements. The overriding objective is to ensure that an interim financial report includes all information relevant to understanding an entity’s financial position and performance during the interim period. Thanks