04-03-2007, 06:43 PM
A company has changed its accounting period from 31 December to 30 June. Previously the company had prepared financial statements for the financial year from 1 January 2005 to 31 December 2005. The new period is thus from 1 January 2006 to 30 June 2006. I have the following questions in this regard
1. Is there any provision in IFRSs or the Companies Ordinance which allows the company to prepare financial statements for the period <b></b><b>1 July 2005 to 30 June 2006?</b>
2. What will be corresponding year, i.e. 31 December 2006 or 31 December 2005?
Regards,
Mahmood Chaudhry
ACCA, ACA
Kamran Sb. your valuable guidance is required.
1. Is there any provision in IFRSs or the Companies Ordinance which allows the company to prepare financial statements for the period <b></b><b>1 July 2005 to 30 June 2006?</b>
2. What will be corresponding year, i.e. 31 December 2006 or 31 December 2005?
Regards,
Mahmood Chaudhry
ACCA, ACA
Kamran Sb. your valuable guidance is required.
