Horizontal Analysis Refers To

question 7

Multiple Choice

Horizontal analysis refers to:

• A)the trend of income from year to year of persons suspected of fraud.
• B)changes of financial statement numbers and ratios across several years.
• C)financial statement amounts expressed each year as a proportion of a base amount.
• D)the change in a suspect's net worth from the beginning to the end of a period.

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Definitions:

AASB 141

The Australian Accounting Standards Board's standard on Agriculture, outlining the accounting treatment for agricultural activity.

IAS 41

International Accounting Standard 41, which deals with agriculture, outlining how to account for and report the financial performance and position of agricultural activities.

Biological Transformation

The process by which living organisms convert substances into different forms, such as the conversion of milk into cheese by bacteria.

AASB 141

The Australian Accounting Standards Board statement that outlines the accounting for agricultural activities.