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🎓 Lesson Overview:
In this lesson, dive into the intricacies of pro forma financial statements with Nick Palazzolo, CPA, who unpacks the purpose and structure of these forward-looking documents. Discover how they differ from standard financial statements by representing future projections and learn how to distinguish them through their special "pro forma" stamp. Nick takes you step-by-step through the preparation of pro forma income statements, drawing from operating budgets, and illustrates how to construct the pro forma balance sheet using data from the cash budget alongside other relevant accounts. He also explains the formulation of the pro forma statement of cash flows, showing how it ties together information from both the income statement and balance sheet to reflect expected cash movements for future periods.
🔍 Key Topics Covered:
- Pro Forma Statements
- Financial Projecting
- Budgeting Analysis
- Future Financial Projections
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Негізгі бет Pro Forma Financial Statements [CPA Prep]
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