Discuss On Interim Financial Reporting Of Listed Company

Along with the reform and open of our country deepening constantly,the change of working circumstance externally and fluctuation of enterprise　everyday managerial action are far frequenter then before．Especially,with development of our securities business and improvement of market efficiency recent years,stock market is changing into more standardization and rational stage by stage．Investor have brought forward higher request to throwing daylight on financial information on the view timely and relatively．It is well know the objective of external statements and their disclosure notes is to communicate the economic effects of business operating and other events with external information users,namely being provided before it out of use．According to traditional accounting,the period of reporting generally emphasizes on annual basis,and report is offered once a year．However,with the transit of social economic environment,annual financial statements often are not timely because investors cannot wait unti1 the end of each year to make their investment decision．Under this condition,the period of two annual financial statements is too long for investor making decision,and can't satisfy the need of decision-making．Perhaps,when annual financial statements are opened out,most of information has been behind the times．Therefore,interim report,on a quarterly or biannually basis,are gradually presented by companies to provide timely information．This is a study on interim financial reports of listed companies with respect to its meaning,significance,theoretical basis,cost-benefit and information attestation．Through a broad research on this field,the author aims to find some practical measures to improve current situation of interim financial reporting in China．There are four chapters in this dissertation, A brief introduction of each chapter is as follows:In the conceptual framework of accounting,accounting period is an important premise．The longer or shorter duration directly influences whether the accounting information is relevant to decision making．Chapter one reviews the definition of interim financial report and point out it is essentially a kind of financial report for uncompleted period during the business cycle as well as the annual report．As for interim report,the relevance is more eminent due to its timeliness, predictive value and feedback value,while some dangers is also inherent in it,which may distort the reliability of accounting information．So,if a conflict arises between relevance and reliability,a trade-off needs to be found．That is,if the information that is the most relevance but not the most reliable and vice versa,the item of information to use is that which is the most relevant of those that are reliable．Concerning the special limitation of short-term financial statements,such as fluctuations,seasonality,estimates and allocations due attention must be given to disclosure of interim reports．Anyway,the author believes the shortening of reporting period is not a problem of technology and cost,but changes in traditional accounting viewpoint．Since the shortening of reporting period is deemed to put on schedule,which problems need considering when we prepare interim reports? Chapter two firstly discusses controversial issue about the basis of interim reports．That is whether interim period is to be viewed as a presentation of an autonomous period or as an integral part of the annual reporting period．The author suggests certain accounting principles and practices followed for annual reporting purpose require certain modification so that the reported results for the interim period may better relate to the results of operations for the annual period．Except that, it is also depicted the influences from interim accounting changes,the accounting of two special gains and losses items,the measurement of intraperiod income tax and varieties of interim models．The author devotes to give reasonable suggestions of interim reporting which can satisfy the...