What is Interim Reports?

Interim Reports - is also known as financial statement. An organizations may prepare financial statements for period of time that are less than the accounting periods.

An interim statement is prepared for a period of time other than a fiscal year or calendar year.

Examples of interim statements are statement prepared for 6 months, 3 months, or even monthly periods. Regardless of the periods of time covered by the individual financial statements.

The accountant maybe called to prepare various statements to satisfy the needs of government (federal, state, and local) as well as other interested parties.