AASB 134 - Interim Financial Reporting - July 2004
Use of EstimatesUse of Estimates
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Use of Estimates
41 The measurement procedures to be followed in an interim financial report shall be designed to ensure that the resulting information is reliable and that all material financial information that is relevant to an understanding of the financial position or performance of the entity is appropriately disclosed. While measurements in both annual and interim financial reports are often based on reasonable estimates, the preparation of interim financial reports generally will require a greater use of estimation methods than annual financial reports.
42 Part C of the illustrative examples accompanying this Standard provides examples of the use of estimates in interim periods.