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March 31, 2020
Question

interim financial statements

  • March 31, 2020
  • 1 reply
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What is a interim financial statement

1 reply

AddieC
March 31, 2020

Hi there, 


It's important to stay up-to-date on various accounting terms that can help you with your business bookkeeping. These kinds of questions are best raised with your accountant, but I'd be happy to provide a brief overview to get you started. 

 

Based on a quick Google search, https://www.accountingtools.com/ states that, "Interim financial statements are financial statements that cover a period of less than one year. They are used to convey information about the performance of the issuing entity prior to the end of the normal reporting year, and so are closely followed by investors. The concept is most commonly applied to publicly-held companies, which must issue these statements at quarterly intervals. These entities issue three sets of interim statements per year, which are for the first, second, and third quarters. The final reporting period of the year is encompassed by the year-end financial statements, and so is not considered to be associated with interim financial statements."

 

I hope this helps shed some light on things for you to get you started. 

 

Have a great day.