IAS 34 Interim Financial Reporting

Synopsis

IAS 34 prescribes the minimum content for an interim financial report and the principles for recognition and measurement in such reports. It does not, however, mandate which companies should publish an interim report, how frequently or how soon after the end of an interim period.

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.

• Read the unaccompanied version of IAS 34

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This unaccompanied version does not include additional content that accompanies the full standard, such as illustrative examples, implementation guidance and bases for conclusions.

Which version of the standard?

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Recent amendments

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The following interpretations refer to IAS 34

• IFRIC 10 Interim Financial Reporting and Impairment

  Addresses a conflict between the requirements of IAS 34 and other standards as regards impairment losses on goodwill and financial assets.

• IFRIC 21 Levies

  Provides guidance on when to recognise a liability for a levy imposed by a government.

Current proposals

1. ED/2019/7 General Presentation and Disclosures was issued in December 2019. This is the exposure draft of a proposed new standard that would replace IAS 1. The standard would carry forward most of the current requirements of IAS 1 and add supplementary requirements, including a requirement to disclose unusual items and management performance measures. Consequential amendments to IAS 34 would reflect this.
   • Read ED/2019/7 General Presentation and Disclosures

This page was last updated 30 August 2022.