What an interim financial report comprises of?
An interim financial report typically comprises the following:
- Balance Sheet: This shows the company's assets, liabilities, and equity at the end of the reporting period.
- Income Statement: This shows the company's revenue, expenses, and net income or loss for the reporting period.
- Statement of Cash Flows: This shows the company's cash inflows and outflows during the reporting period, including operating, investing, and financing activities.
- Notes to the Financial Statements: This provides additional information and explanations for the items reported in the balance sheet, income statement, and statement of cash flows.
- Management Discussion and Analysis (MD&A): This is a section that provides a narrative explanation of the company's financial performance and position, including any significant events or transactions that occurred during the reporting period.
- Other Disclosures: Interim financial reports may also include other disclosures required by accounting standards or regulatory requirements, such as information about risks and uncertainties, related party transactions, or significant changes in accounting policies or estimates.