Comparability example sentences

As discussed in the preceding section, the Generally Accepted Accounting Principles in the form of Basic Accounting Concept have been accepted by the accounting profession to achieve uniformity and comparability in the financial statement.It also enhances the comparability of the reporting of operating performance by different enterprises because it eliminates the effects of using different accounting treatments for the same transactions and events.In order to assess whether accounting information is decision useful, it must possess the characteristics of reliability, relevance, understandability and comparability.The comparability of information is required both to make inter-firm comparisons, i.e. to see how a firm has performed as compared to the other firms, as well as to make inter-period comparison, i.e. how it has performed as compared to the previous years.