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The term pro forma (Latin for "as a matter of form" or "for the sake of form") is most often used to describe a practice or document that is provided as a courtesy or satisfies minimum requirements, conforms to a norm or doctrine, tends to be performed perfunctorily or is considered a formality.
The pro-forma balance sheet (PBS) method directly uses the projected book cash account; if all the other balance sheet accounts have been correctly forecast, cash will be correct, also. The accrual reversal method (ARM), is similar to the ANI method.
A balance sheet is often described as a "snapshot of a company's financial condition". [1] It is the summary of each and every financial statement of an organization. Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business's calendar year. [2]
[6] Pro Forma statements take previously recorded results, the historical financial data, and present a "what-if": "what-if" a transaction had happened sooner. [ 7 ] While the common usage of the term "financial plan" often refers to a formal and defined series of steps or goals, there is some technical confusion about what the term "financial ...
Balance sheet (3 C, 7 P) I. Income statement ... Pro forma; Q. Quarterly finance report; S. ... Statement of recommended practice; T. Trading statement; Trial balance
Historical financial statements. Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.
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