corresponding figures vs comparative FS

Mmti5713y ago

hello,

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

Ttemesgen13y ago#1

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.

Mmti5713y ago#2

thanks

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