2014 update on half-yearly financial reporting
This publication provides an illustrative half-yearly financial report (also referred to as 'interim accounts') and disclosure checklist, suitable for use for June 2014 half-years. The regulatory requirements for UK listed companies’ half-yearly financial reports are also explained, highlighting the changes for preparers to contend with in 2014.
The only changes to half-yearly financial reporting in 2014 are in respect of the condensed consolidated financial statements. The only change to IAS 34 Interim Financial Reporting becoming effective in 2014 concerns entities becoming, or ceasing to be, investment entities. However, other accounting standards that are effective for the first time in 2014 may also have an impact on the underlying accounting in the condensed consolidated financial statements. For example, for many the consolidation ‘package of 5’ (IFRSs 10-12, IAS 27(2011) and IAS 28(2011)) will be effective for the first time in 2014.
