Answer
Interim reports are financial reports for a period of less than one year. Usually, public companies present quarterly reports with a focus on three main financial statements: balance sheet, income statement, and statement of cash flows.
The main aim of interim reports is to show the financial performance and cash flows during the period (usually a quarter of a year). The balance sheet represents the financial position at a given point in time and is not exclusively related to a given period of time. With interim reports, the users are interested in the operations that took place during the part of the year, not the overall position of the company. Hence interim financial statements focus mainly on income statements and statements of cash flows.
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