Treatment of Events Occurring After the Interim Financial Reporting But Before the Date of Board’s Approval
- Blog|News|Account & Audit|
- < 1 minute
- By Taxmann
- |
- Last Updated on 23 March, 2024
A company is preparing its interim financial report for the quarter ending and has noticed some material events occurred after the interim financial report but before the approval for issue by the Board of Directors that provided evidence of conditions that existed at the end of the interim reporting period. The management is concerned whether such events occurring between the end of the interim financial report and the date of approval by the Board of Directors shall be adjusted in the interim financial report as the standard does not provide any guidance on the term “Reporting Period” will include interim reporting period or not.
Click Here To Read The Full Story
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied