Exemplary Comparative Figures In Financial Statements

Corresponding figures are the figures which shows auditors findings or opinion regarding financials reports of the company for the current period only while comparative financial statements shows auditors findings or opinion regarding financial statement refers to each for which financial report is being made and compared with last period.

Comparative figures in financial statements. Financial statements of listed issuers to include comparative figures for the balance sheet income statement cash flow statement and statement of changes in equity for. Corresponding figures and comparative financial statements respectively both require the auditor 1 Extant ISA 710 Comparatives 2 Proposed ISA 200 Revised and Redrafted Overall Objective of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on. Primarily by its relevance to the current period figures.

C Comparative financial statements Comparative information where amounts and other disclosures for the prior period are included for comparison with the financial statements of the current period but if audited are referred to in the auditors opinion. Preparing Comparative Financial Statements is the most commonly used technique for analyzing financial statements. This SSA 710 Comparative Information Corresponding Figures and Comparative Financial Statements supersedes SSA 710 Comparatives in January 2010.

Reclassifications and comparative figures 224. Comparative financial statements Comparative information where amounts and other disclosures for the prior period are included for comparison with the financial statements of the current period but if audited are referred to in the auditors opinion. 2020 2019 Current assets Cash at bank Accounts receivable Inventory 30000 52000 84000 166000 25000 54000 86000 165 000 Non-current assets Term deposit Plant and equipment net 50 000 180000 230 000 396 000 40000.

Hence this technique is also termed as Horizontal Analysis. The level of detail presented in the corresponding amounts and disclosures is dictated primarily by its relevance to the current period figures. Auditors are required to comply with the auditing standards contained in this SSA in respect of audits of financial statements for periods beginning on or after 15 December 2009.

Question 1 Common size statement of financial position Comparative figures from the statement of financial position for Border Ltd are shown below. This technique determines the profitability and financial position of a business by comparing financial statements for two or more time periods. Directors statement Source GAAP Singapore Ltd and its subsidiaries.

CERTIFIEDGENERALACCOUNTANTS82 Comparatives Level 1CAS 710 comparative information corresponding figures and comparative financial statementsthe other matter paragraph must include the type of opinion expressed by the predecessor auditor the date of that report and if the opinion was qualified the reasons for the qualification. The level of detail presented in the corresponding amounts and disclosures is. Corresponding figures Comparative information where amounts and other disclosures for the prior period are included as an integral part of the current period financial statements and are intended to be read only in relation to the amounts and other disclosures relating to the current period referred to as current period figures.