Comparatives (ISA 710)

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  • Avatar of trinistudent001
    trinistudent001
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    Can you explain simply the difference between “corresponding figures” and “comparative financial statements”?


    Avatar of MikeLittle
    MikeLittle
    Keymaster
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    Hi

    Frankly, no!

    I believe that I’m correct if I say that comparatives are the figures from last year which are disclosed in the financial statements.

    Corresponding amounts are those which relate to figures in this year’s financial statements but which are not directly comparable.

    But I could be wrong

    It amazes me that students get so hooked up on something which, I believe, is relatively trivial! :-)

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