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