Question

Comparative financial statements in which each individual financial statement amount is expressed as a percentage of a base amount are called?

Answer 1

Comparative financial statements in which each financial statement amount is expressed as a percentage of a base amount are called Common-size comparative statements.

What is a comparative financial statement?

A comparative statement is a record used to compare a particular financial statement with previous period statements. Previous financials are shown alongside the latest figures in side-by-side columns, allowing investors to identify trends, track a company's progress and approximate it with industry rivals.

What is a comparative statement also known as?

Comparative statements are the form of horizontal analysis. A common size statement shows the profitability and financial position of a firm for different periods in a comparative form to give an idea about the position of two or more periods.

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