the difference between corresponding figures and comparative FS is not very clear for me.
what I understand is that they are both related to prior year figures.
could you please give me a practical example?
thanks a lot
both refer from the previous year but corresponding figures refer to specific figures from previous financial statements for instance previous year revenue, net asset, liability, or a figure for a specific financial statement item for that matter (receivables, payables, inventory, PPE, expense, etc). comparative FS refers to the FS as a whole, not specific figures.
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