Journal of Kirkuk University For Administrative and Economic Sciences

Interim Financial Statements and the Extent of Their Coverage to the Requirements of Measurement, and Disclosure to Light on International Accounting Standard (34) (A Field Study in a Number of Private Commercial Banks)

Author

Omer H. Taha
Abstract
Abstract
This study, based on research and analysis, had dealt with a subject directly related to banks and financial institutions’ activity, as they depend, in practicing their banking operations, on the deposit money they keep. Consequently their activity should be characterized with stability as they should disclose the outcome of their businesses on a regular basis considering the fact that the annual financial statements are no longer sufficient and they must be followed by the commercial banks to prepare a specific set of financial statements covering short periods of time , quarterly or every six months which can provide decision makers , investors and lenders, with sufficient information which is appropriate regarding time and quality in order to make investment decisions, allocation and other decisions concerning the Bank's activities.
Based on what have been stated and to shed more light on the nature of this financial statements , the study showed the principals and methods which the International Accounting Standard (34) ( The Interim Financial Reporting) has brought for how to prepare these lists beside determining the minimum level of information that should be included.
The study, which took a sample of commercial banks operating in the Kurdistan Region as a research field , reached to the weakness in the level of interest in the financial statements, as well as the noncompliance with the requirements of International Accounting Standard (34).

Keywords

Financial Statements
Disclosure
Journal of Kirkuk University For Administrative and Economic Sciences
Volume 3, Issue 1
Spring 2013
Pages 126-157

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