Question

1. What do you think (in your opinion) is the purpose of Financial Authorities to monitor quarterly reporting of emitents / public listed companies?
2. What do you think about the inefficiencies (could be from technical or accounting principle, e.g. omitted disclosures, or company's side of readiness for full disclosure) of interim reporting on quarter basis?
3. If you were given role of Accounting Manager of a Group, how would you approach interim reporting? Is that of major significance to you personally (apart from being "responsible-for-it" argument)?

Answer 1

1.A quarterly report is a summary or collection of unaudited financial statements, such as balance sheets, income statements, and cash flow statements, issued by companies every quarter (three months). In addition to reporting quarterly figures, these statements may also provide year-to-date and comparative (e.g., last year's quarter to this year's quarter) results. Publicly-traded companies must file their reports with the Securities Exchange Committee (SEC).

Preparing a quarterly report takes time and may require extended research. Gathering financial and performance data from various sources will generally ensure that the quarterly report is as comprehensive as possible. Graphs and spreadsheets provide a visual representation of the data provided; they help to add context. Quarterly reports help investors and analysts gauge the health of a company by providing insight into a firm's performance.

2.Although what's included in a quarterly report varies among companies, there are features common to most. A quarterly report typically includes an executive summary, goals and objectives, highlights, and new and ongoing challenges. In terms of challenges, the quarterly report may include strategies planned or employed to overcome them. If relevant, the quarterly report may discuss previous quarterly reports' data and provide a comparison between them and the current report.

3.Interim statements are financial reports produced by firms covering a period of less than one year.

The goal is to keep shareholders and analysts more up-to-date and in regular communication with corporate management, and to alert the public to material changes to the company in a timely fashion.

Quarterly reports are commonly used by companies, and may sometimes be mandated by Sec