The Accounting Standards Board (AcSB) and the International Accounting Standards Board have identified the goal of comparability of financial statements as one toward which all companies should strive and consistency as the means toward achieving that goal How are these characteristics important to...

Consistency from year to year and between companies helps to ensure comparability of fin ...

The Accounting Standards Board (AcSB) and the International Accounting Standards Board have identified the goal of comparability

Question:

The Accounting Standards Board (AcSB) and the International Accounting Standards Board have identified the goal of comparability of as one toward which all companies should strive and consistency as the means toward achieving that goal. How are these characteristics important to horizontal and vertical analysis?
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...