Concept explainers
Comparative Financial Statements:
It refers to the past details of same items of consecutive income statements or
Dollar Changes:
It helps to compare financial statement over short time periods which are done by analyzing changes in the line.
The formula to calculate dollar change is,
Percentage Change:
In this method, prior year is used as a base period and the analysis helps in comparing financial statements.
The formula to calculate percentage change is,
To identify: The annual dollar change and percentage change for each account.
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GEN COMBO LOOSELEAF FINANCIAL AND MANAGERIAL ACCOUNTING; CONNECT ACCESS CARD
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