Complete or condensed set

Learning objectives

• Distinguish an interim financial report containing a complete set of financial statements (which follows the presentation Standard) from one containing a condensed set (minimum content of IAS 34).L1

Normative references

• IAS 34 §8An interim financial report includes, at a minimum, five components: a condensed statement of financial position, a condensed statement or statements of performance (profit or loss and other comprehensive income; "statement(s) of financial performance" in the wording amended by IFRS 18), a condensed statement of changes in equity, a condensed statement of cash flows and selected explanatory notes.
• IAS 34 §9If an entity publishes a complete set of financial statements in its interim financial report, their form and content conform to the requirements of the presentation Standard applicable to a complete set (IFRS 18 in the amended wording, which replaces IAS 1).

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• What option does an entity have for the content of the financial statements in its interim report?L1