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17.2 Prepare Comparative Financial Statements

Comparative Statements​

Comparative Financial Statements:

  • Show multiple periods side-by-side
  • Allow period-to-period comparison
  • Show changes in amounts and percentages
  • Identify trends

Format​

Income Statement:

                   2024        2023      Change      % Change
Revenue          €100,000   €90,000    €10,000      11.1%
Expenses           70,000     65,000      5,000       7.7%
Net Income       € 30,000   €25,000     €5,000      20.0%

Analysis​

Changes Show:

  • Growth or decline
  • Trends
  • Areas needing attention

Luxembourg Compliance Note​

Comparative statements in Luxembourg:

  • Useful for analysis
  • Help identify trends
  • Support decision-making
  • May be required for some filings

Think It Through​

What can you learn from comparing financial statements across periods?