Interim accounts, also known as interim financial statements, provide a detailed and periodic financial overview within a fiscal year, enabling organizations to assess and present their financial health between annual reports.
Interim reporting involves the preparation and presentation of financial statements for periods shorter than a full fiscal year, often on a quarterly or semi-annual basis. This practice provides timely updates on an organization’s financial performance and position, offering critical insights to stakeholders.
Discover the definition, purpose, uses, and examples of interim statements. Understand their importance in financial reporting and decision-making.
