Definitions of  Interim Financial Reporting :

The following terms are used in this Standard with the meanings specified:

 Interim period is a financial reporting period shorter than a full financial year.

 Interim financial report means a financial report containing either a complete set of financial statements or a set of condensed financial statements (as described in this Standard) for an interim period.

During the first year of operations of an enterprise, its annual financial reporting period may be shorter than a financial year. In such a case, that shorter period is not considered as an interim period.