GK
ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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AS-19
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AS-21
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AS-23
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AS-25
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Detailed explanation-1: -400 AS 25. 400. Accounting Standard (AS) 25. Interim Financial Reporting. Contents.
Detailed explanation-2: -The interim financial report containing condensed financial statements is intended to provide an update on the latest annual financial statements. Accordingly, it focuses on new activities, events, and circumstances and does not duplicate information previously reported.
Detailed explanation-3: -IAS 34 prescribes the minimum content of such an interim financial report. It also specifies the accounting recognition and measurement principles applicable to an interim financial report.
Detailed explanation-4: -The objective of this Standard is to prescribe the minimum content of an interim financial report and to prescribe the principles for recognition and measurement in a complete or condensed financial statements for an interim period.
Detailed explanation-5: -AS-25 of the ICAI is applicable if a business is required or elects to issue an interim financial report. This standard’s aim is to regulate the minimum content of an interim financial report and the rules for recognition and measurement in complete or condensed financial statements for an interim period.