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

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  • Bunea-Bontas, Cristina Aurora

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.

Suggested Citation

  • Bunea-Bontas, Cristina Aurora, 2007. "Interim Financial Reporting in the Perspective of harmonization of the Romanian Accountancy with the International Financial Reporting Standards," MPRA Paper 16249, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:16249
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    More about this item

    Keywords

    interim financial reporting; interim report; interim period; recognition; measurement;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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