Hi Forumers,
May you advice how to make comparison between 2 company which have different fiscal year?
EG:
Company A - Jan 2011 to Dec 2011
Company B - April 2011 to Mac 2012
How do i adjust the figures in financial statement for company B so it will reflect Jan 2011 - Dec 2011 ?
You can put togther a composite period for company B by including the 4th quarter from the previous fiscal year and removing the 4th quarter from fiscal 2012. Since company usually don’t report 4th quarter data seperately you will need to calculate the 4th quarters by removing the 3rd quarter year-to-date period from the full fiscal year.
You can define a chart of accounts as group chart of accounts and do consolidation. and at group level you can give Jan to Dec fiscal year to generate financial statements.
Regards,
Keshav Kakarla
sweet… thanks for the advice…