Pro-forma financial statements and financial planning
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Why are pro-forma financial statements important to the financial planning process?
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Solution Summary
In a 305 word discussion, the solution subdivides the users of pro forma statements and explains the importance of those statements to each group together with examples.
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Pro-forma financial statements accomplish two important objectives:
Internal planning for management
Without projections of sales and expenses, a company would have no goals and no monitoring of expenses. Remember the line, "I love it when a plan comes together.' Without a plan, companies would make spur of the moment decisions with little thought to the longer range impacts to the entire company. Secondly, decisions might have a narrower impact: only to my department or ...
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