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Survey of Accounting (Accounting I)

8th Edition
Carl Warren
ISBN: 9781305961883

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BuyFindarrow_forward

Survey of Accounting (Accounting I)

8th Edition
Carl Warren
ISBN: 9781305961883
Textbook Problem

What is the advantage of using comparative statements for financial analysis rather than statements for a single date or period?

To determine

Concept Introduction:

Financial Statement analysis is done using the components of financial statement. These components are Balance sheet, Income statement, Statement of Cash flows, etc. An annual report of a company contains the financial statement of that year and the previous year for comparison. If the company has subsidiaries or segments, the financial statement shall be consolidated for the whole business of the company.

To Indicate:

The advantage of using Comparative Statement for financial analysis rather than Statements for a single date or period

Explanation

Financial Statement analysis is done using the components of financial statement. These components are Balance sheet, Income statement, Statement of Cash flows, etc. An annual report of a company contains the financial statement of that year and the previous year for comparison...

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