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youngbloodz youngbloodz
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5 days ago
Define forecast and projection.
Textbook 

Auditing and Assurance Services


Edition: 17th
Authors:
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timmcgraw1994timmcgraw1994
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More questions for this book are available here
Forecasts are prospective financial statements that present an entity's expected financial position, results of operations, and cash flows, to the best of the responsible party's knowledge and belief.
Projections are prospective financial statements that present an entity's financial position, results of operations, and cash flows, to the best of the responsible party's knowledge and belief, given one or more hypothetical assumptions.

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