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FRS 104 Interim Financial Reporting

FRS 104 Interim Financial Reporting provides guidance on the preparation of interim financial reports. It is based on IAS 34.

Published 15 March 2015. Effective for accounting periods beginning on or after 1 January 2015.

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FRS 104 prescribes the minimum content for an interim financial report and the principles for recognition and measurement in such reports together with required disclosures. 

The standard does not mandate which entities must prepare interim reports, or prescribe how frequently or how soon after the end of an interim period such reports should be issued.

Condensed versions of the main financial statements are required within an interim report, along with selected explanatory notes. Guidance is given within the standard for the measurement of items such as revenues affected by seasonality and income taxes.

Who should apply the standard?

FRS 104 is intended to be applied by those entities that apply FRS 102 and must prepare, or choose to prepare, interim financial reports. It may also be used as a basis for preparing interim reports by entities applying FRS 101.

Which version of the standard?

'Which version of the standard?' is only available to members of the Financial Reporting Faculty.

Annual period starts on or after 1 January 2015


  1. Early adoption is permitted provided that FRS 101 or FRS 102 is applied from the same date.

Other resources

More information on the new financial reporting regime, including the full range of resources, is available on the new UK GAAP section of our website icaew.com/newukgaap

This page was last updated on 12 June 2017.