In its Concepts Statement No. For example, the auditing literature states, Matters underlying adjustments proposed by the auditor but not recorded by the entity could potentially cause future financial statements to be materially misstated, even though the auditor has concluded that the adjustments are not material to the current financial statements.
Close This item has been saved to your reading list. This Interim financial information be presented in English and submitted no later than six months following the end of the second fiscal quarter.
There is no change to the requirements applicable to publicly-filed registration statements. This situation might occur if a practice is developed when there are few transactions and the accounting results are clearly inconsequential, and that practice never changes despite a subsequent growth in the number or materiality of such transactions.
Investors presumably also would regard as significant an accounting practice that, in essence, rendered all earnings figures subject to a management-directed margin of misstatement. For more info about the TLF, please see note 6. China will still lead in terms of growth, but South and Southeast Asia will experience their strongest annual growth in recent years, becoming another major Interim financial information engine in and into The Rainbow SLB which was announced in connection with the first quarter earnings release was executed 12 July subsequent to the delivery of newbuilding from SHI which was 9 July The staff recognizes that there is limited authoritative guidance 34 regarding the "reasonableness" standard in Section 13 b 2 of the Exchange Act.
During the first half of the year, Flex LNG has incrementally built backlog with top tier charters at gradually better terms as the market for seaborne transportation of LNG has improved during the last twelve months and is expecting to continue improving in the near term.
Flex LNG expects the coming growth of LNG production and the expected growth in demand for natural gas in combination with the limited available open vessels to gradually tighten the shipping market. EGCs and other eligible issuers e.
The staff reminds registrants and the auditors of their financial statements that exclusive reliance on this or any percentage or numerical threshold has no basis in the accounting literature or the law.
In addition to these important factors and matters discussed elsewhere herein, important factors that, in our view, could cause actual results to differ materially from those discussed in the forward looking statements include the strength of the world economies, fluctuations in currencies and interest rates, general market conditions, change in governmental rules and regulations or actions taken by regulatory authorities.
Registrants and the auditors of their financial statements accordingly should consider the effect of the misstatement on subtotals or totals.
There may be other indicators of "reasonableness" that registrants and their auditors may ordinarily consider.
The new rule is effective beginning with any fiscal year that starts on or after July 1, LNG Market Outlook and Strategy The market for seaborne transportation of LNG improved markedly during the Interim financial information quarter where the primary driver was the nearly 50 per cent increased imports to China and also general high demand growth in other more mature markets.
The literature notes that the analysis should consider whether the misstatement of "individual amounts" causes a material misstatement of the financial statements taken as a whole. The materiality of a misstatement may turn on where it appears in the financial statements.
The growth in imports is driven by the public and private initiatives to switch from coal to natural gas in order to improve local air quality in the major cities as well as reduce emissions of greenhouse gases.
However, there have been some delays in commissioning of liquefaction trains. You are hereby advised that such industry data and statistics have not been prepared specifically for inclusion in these material and Flex LNG has not undertaken any independent investigation to confirm the accuracy or completeness of such information.
Notwithstanding an impressive set of written rules and procedures, if the tone set by management is lax, fraudulent financial reporting is more likely to occur. In assessing the materiality of misstatements in segment information - as with materiality generally - situations may arise in practice where the auditor will conclude that a matter relating to segment information is qualitatively material even though, in his or her judgment, it is quantitatively immaterial to the financial statements taken as a whole.
The requirements of Section 10A echo the auditing literature.Developed with webControl CMS. Transcript Results; Date Quartely Results Results Presentation Webcast and Transcript.
INTERIM FINANCIAL REPORT 5. Production Developments Harvest volumes increased by 30% on 1H17 to 4, MT, with good survival and growth during the FY summer allowing additional harvest and thus sales.
Our feed conversion ratio at x was a slight improvement on the previous first half. Footnotes (AU Section A — Interim Financial Information): fn 1 For purposes of this section, a public entity is any entity (a) whose securities trade in a public market either on a stock exchange (domestic or foreign) or in the over-the-counter market.
Comparing the quarterly interim financial information with comparable information for the immediately preceding interim period and the quarterly and year-to-date interim financial information with the corresponding period(s) in the previous year, giving consideration to knowledge about changes in the entity's business and specific.
Definition: Interim financial statements are financials that only cover periods less than one year. The most common form of interim financial statements cover one month, one quarter, or six months. Most companies generate a set of general purpose financial statements at the end of each accounting period.
These annual reports work well for. Illustrative interim financial information for existing IFRS preparers Although there is no requirement under IFRS for entities to publish interim financial reports, a number of territories around the world either require or recommend their.Download