Are comparative financial statements required by GAAP? Explain.
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Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Comparative financial statement are not required under GAAP No general requirement with US GAAP to p...View the full answer
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Aadarsh Jain
I am a B.COM Graduate from IGNOU. Since 2018 I have been teaching Accounting & Taxation to B.COM Students. Teaching is a noble profession. One does not go into teaching for the money but rather for the twinkle in the eyes of a student when they understood the concept i taught them or figured out for themselves how to solve a problem based on guidance. Once i find my students not able to understand a particular concept i always ready to adopt new methods of teaching to explain to them. While teaching, I feel good and happy when my students feel also good and happy because they learnt the key points of my lectures.
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