What is a quarterly report?
A quarterly report summarises a business's results for one quarter of its [fiscal year](/glossary/fiscal-year) (Q1 to Q4). For listed companies, quarterly or half-yearly reporting is often required. In the US, public companies file a Form 10-Q with the SEC for each of the first three quarters.
What it includes
- [Income statement](/glossary/income-statement) for the quarter and year-to-date
- [Balance sheet](/glossary/balance-sheet) at quarter-end
- [Cash flow statement](/glossary/cash-flow-statement)
- Management commentary on performance, risks and outlook
- Selected notes
Quarterly reports are usually unaudited but may be reviewed by auditors.
Interim reporting standards
Under IFRS, interim reports follow IAS 34 Interim Financial Reporting, which allows condensed statements and focuses on changes since the last annual report.
Why private businesses should report quarterly
- Spot trends earlier than an annual review would
- Compare results against [budget](/glossary/budget)
- Plan tax payments, such as quarterly estimated taxes
- Keep lenders and investors informed
Comparing quarters
Compare each quarter with the same quarter last year to remove seasonality, and track [year-to-date](/glossary/year-to-date-ytd) totals.