Financial Statements: From Accruals to Projections
Автор: Angele Risk Management Consulting LLC
Загружено: 2025-11-26
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Financial accounting principles, beginning with the application of accrual accounting which necessitates the use of adjusting entries—such as for depreciation and accrued liabilities—to ensure financial statements reflect economic reality rather than just cash movements. This rigorous process upholds the Matching Principle and correctly structures financial reporting, requiring that managers distinguish core operating expenses from a dividend, which is merely a distribution of company profit. Moving beyond historical data, the text transitions to the crucial role of financial forecasting, explaining that the validity of all future predictions rests upon the foundation of an accurate sales forecast. The process of building pro-forma financial statements requires separating accounts that vary directly with sales volume from those, known as policy-driven items, whose level is determined by long-term management decisions regarding assets and financing.
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