balance sheets and income statements 5

/in /by

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.

Direction:

2-3 references

APA style

6-8 paragraphs

 
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