5. Interim Reporting

Question 1

Capital Market Law

Answer 1

requires:
- Annual financial report
- half-yearly financial report

Question 2

Half-yearly financial report

Answer 2

content:
condensed financial statements
interim management report
responsibility statement

audit is optional

Question 3

Prime Standard Firms

Answer 3

also have to issue quarterly management statements
content:
qualitative information about development of business in period

can be replaced by a quarterly financial report
no audit required

Question 4

Concepts for recognition and measurement

Answer 4

▪ revenues are recognised considering the realisation principle

▪ expenses:
▪ expenses related to production are recognised when they occur
▪ expenses related to a period (e.g. depreciation, leases, interest): smoothed
▪ extraordinary expenses are recognised when they occur
-> dividends are not recognised

–» combined view

Question 5

Interim Financial Report

Answer 5

defined in IAS 34