About IAS-34:

IAS-34 was issued in June 1998 and is operative for periods beginning on or after 1 January
1999.
Objectives:
The purpose of IAS-34, Interim Financial Reporting is to set out the minimum content of such a
report and to describe the recognition and measurement principles.
This IAS does not detail

Which entities should publish interim financial reports;

How frequently they should be published;
How soon they should be published after the end of the interim period.

Scope:
This standard applies where an entity is required or elects to publish an interim financial report.
IASB encourages publicly traded entities to provide interim financial reports at least at the end of
the half year, and such reports are to be made available not later than 60 days after the end of the
interim period. An entity that does not prepare interim financial reports or provides ones that do
not comply with IAS-34, does not compromise its compliance with IFRS in its annual financial
statements.

IAS-34 discusses about the following issues:

Form and content of the interim reports;

Explanatory notes;
List of disclosures to be made;
Periods to be presented by the interim financial statements;
Measurement and recognition;
Accounting policy changes;
Implication of IFRIC and impairment in case of interim financial reporting.