Interim Account
/ˈɪntərɪm əˈkaʊnt/
Definitions
- (n.) A temporary financial statement prepared during an ongoing accounting period to provide an updated overview of a business's financial position.
The company prepared an interim account to report its earnings before the fiscal year ended.
- (n.) An account opened temporarily during the administration of an estate or trust pending a final account, reflecting receipts and disbursements to date.
The executor submitted an interim account to the court before final distribution of the estate.
Forms
- interim account
- interim accounts
Related terms
See also
Commentary
Interim accounts provide provisional financial information and are distinct from final accounts; clarity about their provisional nature is advisable in drafting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.