than one year Publicly held companies are required to publish quarterly reports The quarterly report is, in many ways, a smaller version of the annual report
Edited by Taufik Hidayat
13-2
Interim Financial Reporting
X.K.2 Bapepam, quarterly report:
This must be filed within a month after the end of each of the first three quarters for unaudited F/S. This must be filed within two months after the end of each of the first three quarters for limited reviewed F/S. This must be filed within three months after the end of each of the first three quarters for audited F/S. Edited by Taufik Hidayat
13-3
Minimum components of an interim
financial report Items in interim financial reports: 1. a condensed statement of financial position. 2. a condensed statement of comprehensive income, presented as either; 1. a condensed single statement; or 2. a condensed separate income statement and a condensed statement of comprehensive income;.
Edited by Taufik Hidayat
13-4
Periods Required to be Presented
Interim reports shall include the period: 1. Statement of financial position as of the end of the current interim period and a comparative statement of financial position as of the end of the immediately preceding financial year. 2. Statements of comprehensive income for the current interim period and cumulatively for the current financial year to date, with comparative statements of comprehensive income for the comparable interim periods (current & year-todate) of the immediately preceding financial year. Edited by Taufik Hidayat
13-5
Periods Required to be Presented
Interim reports shall include the period: 3. Statement of changes in equity cumulatively for the current financial year to date, with a comparative statement for the comparable yearto-date period of the immediately preceding financial year. 4. statement of cash flows cumulatively for the current financial year to date, with a comparative statement for the comparable year-to-date period of the immediately preceding financial year.
An entity shall apply the same accounting policies in its interim financial statements as are applied in its annual financial statements,
except for accounting policy changes made after the
date of the most recent annual financial statements that are to be reflected in the next annual financial statements.
In deciding how to recognise, measure, classify,
or disclose an item for interim financial reporting purposes, materiality shall be assessed in relation to the interim period financial data.
Edited by Taufik Hidayat
13-9
Recognition & Measurement
Revenues that are received seasonally, cyclically, or occasionally within a financial year shall not be anticipated or deferred as of an interim date if anticipation or deferral would not be appropriate at the end of the entity's financial year. Costs that are incurred unevenly during an entity's financial year shall be anticipated or deferred for interim reporting purposes if, and only if, it is also appropriate to anticipate or defer that type of cost at the end of the financial year. Edited by Taufik Hidayat
13-10
Accounting Changes in Interim Periods
Change in an accounting principle Restating the financial statements of prior interim periods of the current financial year and the comparable interim periods of any prior financial years that will be restated in the annual financial statements. when it is impracticable, apply the new accounting policy prospectively from the earliest date practicable.