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As-25

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(Querist)
28 May 2012 Can you please explain meaning of the term 'Condensed Financial Statements' as per AS-25.

Regards
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Sanjay Chauhan (IFRS)

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Sanjay Chauhan (IFRS) (Expert)
29 May 2012 Condensed FS provide for minimum disclosure requirements as compared to Complete Annaul Financial Statements.

Many notes are not required in Condensed FS such as production numbers, CIF value of imports, FOB value of exports, Auditors remuneration, etc....

Thus entities have a breather while submitted interim financial statements.

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