Question

Intra-company standards for financial statement analysis: Group of answer choices Are set by the company's industry through published statistics. Are based on a company's prior performance and relations between its financial items. Are based on rules of thumb. Are often set by competitors. Are published by analyst services such as Standard

Answer 1

Intra-company standards for financial statement analysis :

Are based on a company's prior performance and relations between its financial items.

What are Intra-company  Standards for Financial Statement Analysis based on?

Three commonly used standards for financial statement analysis are rule-of-thumb measures, the company's past performance, and industry norms.

Rule-of-thumb measures are weak because of the lack of evidence that they can be widely applied. The past performance of a company can offer a guideline for measuring improvement but is not helpful in judging performance relative to other companies. Although the use of industry norms overcomes this last problem, its disadvantage is that firms are not always comparable, even in the same industry.

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