comparative financial statements

Comparative Financial Statements

Financial statements from different quarters or years that are set side-by-side to gauge how a company has performed over time. This is useful when determining whether a company's earnings, revenue, or other items are considered "good." It also helps in predicting future performance.

comparative financial statements

Financial statements, the current statement and the statement from the previous accounting period, presented together for comparative purposes.
References in periodicals archive ?
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.
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?

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