Accounting Standards 1-29 - Seth & Associates

(D) Selected Explanatory Notes
This part should contain selected explanatory notes as required by paragraph 16 of this Statement.
Appendix 2
Illustration of Periods Required to Be Presented
This Appendix, which is illustrative and does not form part of the Accounting Standard, provides examples
to illustrate application of the principles in paragraphs 18 and 19. The purpose of the appendix is to
illustrate the application of the Accounting Standard to assist in clarifying its meaning.
Enterprise Preparing and Presenting Interim Financial Reports Half-Yearly
1. An enterprise whose financial year ends on 31 March, presents financial statements (condensed
or complete) for following periods in its half-yearly interim financial report as of 30 September
2001:
Balance Sheet:
As at 30 September 2001 31 March 2001
Statement of Profit and Loss :
6
months
ending
30 September 2001 30 September 2000
Cash Flow Statement 2 :
6
months
ending
30 September 2001 30 September 2000
Enterprise Preparing and Presenting Interim Financial Reports Quarterly
2. An enterprise whose financial year ends on 31 March, presents financial statements (condensed
or complete) for following periods in its interim financial report for the second quarter ending 30
September 2001:
Balance Sheet :
As at 30 September 2001 31 March 2001
Statement of Profit and Loss :
6
months
ending
30 September 2001 30 September 2000
3
months
ending
30 September 2001 30 September 2000
Cash Flow Statement :
6
months
ending
30 September 2001 30 September 2000
Enterprise whose business is highly seasonal Preparing and Presenting Interim
Financial Reports Quarterly
3. An enterprise whose financial year ends on 31 March, may present financial statements