Companies should disclose all of the following in interim reports except
A) basic and diluted earnings per share.
B) changes in accounting principles.
C) post-balance-sheet events.
D) seasonal revenue, cost, or expenses.

Question

Quizplus · Accepted Answer

Post-balance-sheet events are not typically required to be disclosed in interim financial reports. Interim reports focus on providing updates on the financial performance and position of a company for a part of the fiscal year, including basic and diluted earnings per share, changes in accounting principles if any, and any significant seasonal impacts on revenue, costs, or expenses. Post-balance-sheet events are more relevant to annual reports where they can affect the understanding of the financial statements after the reporting period.

Companies Should Disclose All of the Following in Interim Reports