Understanding scope of Interim Financial Statements.
Interim financial statements include records of transactions of a period that is less than one full year. Let’s understand the need and importance of interim finance services in the process.
What is an Interim statement?
An interim financial statement or an interim financial report, is a detailed report of accounting, which covers all the business activities within less than one financial year.
Usually, companies generate interim reports/ statements on the basis of monthly, quarterly, semi-annually, or at any other time duration within one year.
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