The differences in presentation requirements described and illustrated here effectively preclude meaningful presentations of
comparative financial statements on a liquidation basis in traditional columnar form with those of preliquidation periods prepared on a going-concern basis.
Presentation of
comparative financial statements have been adjusted retrospectively.
Tenders are invited for qualified consulting firms to conduct the audit of gs/oas accounts and
comparative financial statements for the years ending december 31, 2016 , 2017, and 2018.
Publicly Accountable Enterprises (PAE's) are expected to soon publish their first
comparative financial statements (including quarterly statements) based on International Financial Reporting Standards (IFRS) accounting.
21 Assumptions: Assumptions:
Comparative Financial Statements Comparative Financial Statements Prepared in Accordance with Prepared in Accordance with Accounting Principles Generally Accounting Principles Generally Accepted in the United States of Accepted in the United States of America America Accountant's Compilation Report [Appropriate Salutation] I (we) have compiled the Management is responsible for the accompanying balance sheets of accompanying financial statements XYZ Company as of December 31, of XYZ Company, which comprise 20X2 and 20X1, and the related the balance sheets as of December statements of income, retained 31, 20X2 and 20X1, and the earnings, and cash flows for the related statements of income, years then ended.
Comparative financial statements for 2012 were restated to reflect the change.
The ED proposes a modified retrospective treatment, which would mean that the financial statements for all periods presented, for entities that present
comparative financial statements, would be adjusted to present the new treatment of leases.
Consequently, the date of transition to IFRS depends on two factors: first, the year of adoption of IFRS, and second, the number of years of
comparative financial statements that the entity decides (or is required) to present along with the financial statements for the first IFRS reporting period.
Learning Objective 1 * To define "
comparative financial statements" and conduct a horizontal analysis and trend analysis.
Students in both courses should routinely be exposed to
comparative financial statements, and discussions of the importance of financial statement note disclosures should be enhanced.
2, Reporting on
Comparative Financial Statements (AICPA, Professional Standards, vol.
Must management provide a new representation letter on prior period
comparative financial statements when a representation letter was provided last year on those financial statements?
