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‘Accounting information should be comparable’. Do you agree with this statement? Give two reasons.
Category : Accounting | Answer: 1 4 Months Ago

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Yes, accounting information should be comparable. If accounting information is not comparable then we (financials analysts / other party etc.) will not be able to compare the prior period with the current performance. Also if information is not comparable in such a case Comparison with peers/ competitors is also not feasible. Usually, in-case of any restructuring, M&A, discontinued or divesture the company restate its prior period financials to make it comparable with the current performance
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