Pro forma financial statements should be prepared semi-monthly for the first year of the venture.

Question

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Pro forma financial statements are usually prepared on an annual basis, typically for the first three to five years of the venture. They are used to forecast future financial performance based on assumptions about revenue, expenses, and other key financial metrics. While monthly or quarterly pro forma statements may be useful for some businesses, semi-monthly statements are uncommon and likely not necessary for most ventures.

Pro Forma Financial Statements Should Be Prepared Semi-Monthly for the First