A comparative study on the financial performance of JKCL and UTCL is done for the period of three years (2015-16 to 2017-18). A comparative statement that collates a particular financial statement with prior period items or with the same period financial statement generated by other firm. The process reveals trends in financials and compares one company’s performance with another business. The research design of the study is descriptive research and secondary data was collected for the purpose of the study. Based on the literature review provided by different authors, we highlighted the usefulness of comparative balance sheet. The suggestions are made on the items of the balance sheet which provides the useful information for both the management and the stakeholders.