1. Interım fınancıal reportıng
IAS 34
Interım fınancıal reportıng

2. CONTENT Interim Financial Report Contents of an I.F.R History
Objective
Scope
Goal of I.F.R
Measurement and Principles for recognition and measurement
Materiality
Accounting Policies
Disclosure

3. Interim Financial Reporting
Public Financial Report
Short-term Statement
A public financial report covering a period of less than one year. An interim statement is used to convey the performance of a company before the end of the year. Unlike annual statements, interim statements do not have to be audited. Interim statements increase communication between companies and the public, and provide investors with up-to-date information between annual reporting periods.

4. Interim Report
Interim period: a financial reporting period shorter than a full financial year (most typically a quarter or half-year).
Interim financial report: a financial report that contains either a complete or condensed set of financial statements for an interim period.

5. Contents of an Interim Financial Statement
Condensed balance sheet
Condensed income statement
Condensed statement of changes in equity
Condensed cash flow statement
Selected explanatory notes

6. History of IAS 34 Date Development Comments August 1997
Exposure Draft E57 Interim Financial Reporting published
June 1999
IAS 34 Interim Financial Reporting issued
Operative for financial statements covering periods beginning on or after 1 January 1999
6 May 2010
Amended by Improvements to IFRSs 2010 (significant transactions and events)
Effective for annual periods beginning on or after 1 January 2011
17 May 2012
Amended by Annual Improvements Cycle (segment information)
Effective for annual periods beginning on or after 1 January 2013
25 September 2014
Amended by Improvements to IFRSs 2014 (disclosure of information 'elsewhere in the interim financial report')
Effective for annual periods beginning on or after 1 January 2016

7. Objective Minimum contents of interim report
Recognition and measurement principles
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.

8. Scope
Standard does not address how often nor how soon after the period entities should produce interim reports
Choice by the entity
May choose not to prepare interim financial statements at all
May choose to prepare them in accordance with IFRSs
if they do and they describe the financial statements to be in compliance with IFRSs, the standard applies

9. Scope Cont’d Interim reporting
Reports provide more relevant and timely information
Often mandated by securities regulators, governments, and stock exchanges
IASB encourages entities whose shares are publicly traded to provide interim information
At least as of the end of the first half of the year and issue it within 60 days of this date

10. Goal of interim reporting
To provide information about new events and circumstances and other changes
Not just replicate the information given in the annual financial statements

11. Measurement
Revenues that are received seasonally, cyclically or occasionally within a financial year should not be anticipated or deferred as of the interim date.
Costs that are incurred unevenly during a financial year should be anticipated or deferred for interim reporting purposes if, and only if, it is also appropriate to anticipate or defer that type of cost at the end of the financial year.
Income tax expense should be recognised based on the best estimate of the weighted average annual effective income tax rate expected for the full financial year.

12. Principles for recognition and measurement
Same as in annual financial statements
no smoothing of income and expenses
recognition of assets, liabilities, income and expenses in accordance with the Framework and applicable Standards
measurement on a year-to-date basis
frequency of reporting should not affect measurement of annual results

13. greater use of estimates
Materiality
greater use of estimates
less materiality
In deciding how to recognise, measure, classify, or disclose an item for interim financial reporting purposes, materiality is to be assessed in relation to the interim period financial data, not forecast annual data.

14. Accounting Policies The same accounting policies should be applied.
A key provision of IAS 34 is that an entity should use the same accounting policy throughout a single financial year. If a decision is made to change a policy mid-year, the change is implemented retrospectively, and previously reported interim data is restated.
1. applied for interim reporting as are applied in the entity's annual financial statements, except for accounting policy changes made after the date of the most recent annual financial statements that are to be reflected in the next annual financial statements.

15. Disclosure
Situations may arise where estimates are changed in the last quarter or final interim period
Where final interim period statements are not separately presented and where the change is significant
Nature and amount of change in estimate should be disclosed in the annual statements
If an estimate of an amount reported in an interim period is changed significantly during the financial interim period in the financial year but a separate financial report is not published for that period, the nature and amount of that change must be disclosed in the notes to the annual financial statements.

16. QUESTIONS?
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