Why do companies prepare interim financial statements

Reference no: EM131528308

Question: 1. Answer each of the following questions related to international accounting standards.

a. Do financial statements prepared under IFRS normally present assets from least liquid to most liquid or vice-versa?

b. Do financial statements prepared under IFRS normally present liabilities from furthest from maturity to nearest to maturity or vice-versa?

2. Why do companies prepare interim financial statements?

3. Is cash basis accounting consistent with the matching principle? Why or why not?

Reference no: EM131528308

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