Future of Business
Quiz 07: Understanding the Business
Pro Forma Income Statements Forecast the Assets a Company Will
Pro forma income statements forecast the assets a company will need in the next accounting period.
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A pro forma balance sheet projects the types and amounts of revenues a company will need to execute future plans and shows the amount of additional financing needed to acquire those assets.
The development of pro forma income statements and balance sheets is an important step in the financial planning function performed by financial managers.
Geoff has been looking at some liquidity ratios for K&M Enterprises. This indicates that he wants to know whether the company is likely to face problems in repaying its debts.
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