Posted: February 17th, 2022

Pro Forma Statements are “what if” statements. If the company opens the second location, what will the budgeted income statement and budgeted balance sheets be?

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I. Accounting Workbook: Your accounting workbook must include appropriate calculations and statements: A. Create pro forma financial statements for predicting ability to meet future expansion goals. Pro Forma Statements are “what if” statements. If the company opens the second location, what will the budgeted income statement and budgeted balance sheets be? II. Notes to the Financial Statements: You will find an example for how to format these notes located in the module resources. Your notes must contain the following: A. Create appropriate notes as year-to-year documentation for managing depreciation, supplies, and inventory. B. Create appropriate notes for long-term debt. III. Management Analysis Brief: Your management analysis brief should explain financial information to management. Provide evidence from your accounting workbook to support your ideas where applicable. A. Discuss the impact of the pro forma financial statements for predicting ability to meet future expansion goals. B. Describe the implications of inventory costing, contingent liabilities, and revenue recognition. C. Identify potential issues in interpretation of financial information, providing examples to support your ideas.

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