Like for like and Remeasurement: Difference between pages

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imported>Doug Williamson
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imported>Doug Williamson
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(LFL).
1. ''Financial reporting''.  


'Like for like' is a basis of comparison - usually of revenues - which seeks to exclude the effects of growth by acquisition or of any disposals.
A reassessment of the value of an asset or liability already recorded in an entity's financial records.


The like for like comparison only takes account of activities which were in existence during both of the periods being compared.


2. ''Foreign currency accounting''.


Like for like comparisons should be treated with care, as the selection and presentation of relevant activities for comparison may involve a degree of subjectivity on the part of the management whose performance is being reported on.
The retranslation of foreign currency denominated assets and liabilities to a reporting entitity's functional currency at a financial reporting period end date.
 
Management may - consciously or unconsciously - be influenced to present figures in a way that reflect well on its own performance.




== See also ==
== See also ==
* [[Profit]]
* [[Currency]]
* [[Revenue]]
* [[Financial reporting]]
* [[Sales]]
* [[Foreign exchange]]
* [[Turnover]]
* [[Other comprehensive income]]
* [[Underlying]]
* [[Revaluation]]

Revision as of 15:48, 22 October 2020

1. Financial reporting.

A reassessment of the value of an asset or liability already recorded in an entity's financial records.


2. Foreign currency accounting.

The retranslation of foreign currency denominated assets and liabilities to a reporting entitity's functional currency at a financial reporting period end date.


See also

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