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of <h1>AS 25 Sets Guidelines for Interim Financial Reports: Focus on Consistency, Materiality, and Timely Information</h1> The Accounting Standard (AS) 25 on Interim Financial Reporting outlines the minimum content and principles for interim financial reports, which may include complete or condensed financial statements. The standard aims to enhance the timeliness and reliability of financial information for stakeholders. It does not mandate the frequency or requirement of interim reports but stipulates compliance if such reports are prepared. The standard requires consistency in accounting policies with annual financial statements, and it emphasizes the importance of materiality and the use of estimates. Interim reports should include condensed financial statements and selected explanatory notes, focusing on significant changes since the last annual report.
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