Why would the comparative financial statements be required?
December 1, 2019 Comments Off on Why would the comparative financial statements be required? Accounting Assignment help

Both GAAP and IFRS require that firms provide balance sheets and income statements from at least 2 years in annual financial reports. Why would the comparative financial statements be required? Identify and explain at least 3 benefits for users of the comparative financial statements compared to single year financial statements.

Ref of the textbook (the main reference): Warren, C. S., & Tayler, W. B. (2020). Managerial accounting (15th ed.). Boston, MA: Cengage Learning. ISBN:
9781337912020

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