Interim Financial Reporting
Interim Financial Reporting is a public financial report covering a period of less than one year. An interim statement is used to convey the performance of a company before the end of the year. Unlike annual statements, interim statements do not have to be audited.
Inventory Pricing and Interim Financial Reporting – Inventory Valuation: Companies should generally use the same inventory pricing methods and make provisions for write downs to make market at interim dates on the same basis as used at annual dates when preparing published financial statements.