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Comparatives (ISA 710)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Comparatives (ISA 710)

  • This topic has 1 reply, 2 voices, and was last updated 13 years ago by MikeLittle.
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  • October 19, 2012 at 12:39 am #54778
    trinistudent001
    Member
    • Topics: 7
    • Replies: 38
    • ☆

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

    October 19, 2012 at 5:29 am #105757
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23352
    • ☆☆☆☆☆

    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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