Compare two sets of financial statements without losing track of the source
Putting two sets of financial statements next to each other rarely compares like with like: prior year figures get reclassified, an accounting policy changes, a fiscal year ends in a different month, or one company reports in thousands and the other in millions. Upload both sets to one Search+ workspace, ask about one comparison point at a time, and read the cited passage from each set before you draw a conclusion.
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Last updated October 2026
How to compare financial statements in one workspace
- Upload every period or company you want to set side by side
Add each set of statements as its own file, a PDF or an Excel workbook, for example three years of one company or the latest year of three competitors. Clear file names such as the company and year make the citations easy to tell apart.
- Name the comparison criteria in Workspace Context
Write the points you care about once, such as "compare on revenue recognition policy, debt maturities and audit opinion; always state the unit and the period end for each figure". Each answer in the workspace then follows those criteria.
- Take one criterion per question
Ask about a single point, such as how each set treats leases, rather than asking for everything at once. The answer is written in chat and cites the statements behind each part, so you can open both excerpts and read them together.
Comparison questions to ask across financial statements
How did accounts receivable and inventory change between last year's statements and this year's, and what does each note say about the change?
Do this year's comparative columns show different prior year amounts from the ones in last year's statements, and is a restatement or reclassification explained?
Did either company change an accounting policy or adopt a new standard during the period, and how does each describe the effect?
For each company in this workspace, what borrowings are outstanding and when are the main repayments due?
Which of these sets of statements carries a qualified opinion or an emphasis of matter paragraph, and what does it concern?
Comparison points that matter for financial statements
Statements prepared under US GAAP and under IFRS can treat the same transaction differently, and consolidated statements include subsidiaries that standalone statements leave out. Check the basis of preparation note in each set before comparing totals.
A company with a June year end and one with a December year end are reporting on different months. Headings also differ on units and currency, so a figure in thousands can look smaller than one in millions when it is not.
When a company restates or reclassifies, the comparative column in the new statements no longer matches what was published the year before. Comparing the old set with the new one shows which numbers moved and why.
Impairments, gains on disposals and the adoption of a new standard can make one year look very different from the next. The notes usually describe these, so ask about them by name for each period.
Ask Search+ to compare two or more sets of statements and point out where they differ. The answer is prose in chat with citations to each source, and you can narrow any follow-up to a single set. When the pile grows to many years or companies, Deep Analysis (beta) is another way to ask Search+ to compare or synthesize across all of them, with the same cited answers.
What to compare, why it matters and what to ask
| Comparison point | Why it matters | A question to ask Search+ |
|---|---|---|
| Basis of preparation | Different frameworks or consolidation scope distort line by line comparison | Which accounting framework does each set follow, and is each one consolidated? |
| Fiscal year end and units | Mismatched periods or units make totals look higher or lower than they are | What period end and reporting unit does each set use? |
| Comparative column | Restated or reclassified prior year amounts change the trend | Do the prior year figures in the new statements match last year's published amounts? |
| Accounting policies | A new policy can shift revenue or expenses between years | What accounting policy changes are described in each year's notes? |
| Debt and maturities | Upcoming repayments affect how much cash each business needs | When does each company's main debt mature, according to its debt note? |
| Audit opinion | A qualified opinion or going concern paragraph changes how much weight the figures can bear | Does any auditor's report include a qualification or going concern paragraph? |
What a financial statement comparison in Search+ is
It is a chat answer that sets out how two or more sets of statements differ on the point you asked about, with citations that open the supporting excerpt from each one. You keep asking follow-ups until you have checked every point that matters to you.
Questions about comparing financial statements
Can I compare a company's statements across three years?
Will Search+ spot that last year's numbers were restated?
Can it compare a GAAP company with an IFRS company?
Does it calculate growth rates or ratios for the comparison?
Is a comparison from Search+ a recommendation about which company to back?
Can I check one set at a time after comparing?
Compare like with like
Start a workspace, upload each set of statements, and ask about one comparison point at a time.
Start a workspace