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What are pro forma income statements?Pro forma income statements are basically financial statements that are characterized by hypothetical revenue amounts or certain estimates that are put into the data to give a projection of the company’s profits.
While making pro forma income statements, care must be taken to see that certain non-continuous items and products are excluded while compiling these statements. Pro forma income statements generally do not take into consideration one-time expenditures that do not form a part of the normal operations of the concerned company.
Breaking down pro forma income statements
Compiling pro forma income statements, for both individual and consolidated accounts, requires thorough knowledge for any finance student. Pro forma income statements form a bulk of assignment work for students, who often look up to online portals like ours, for help.
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Pro forma income statements can be used a view and somewhat judge a company’s future business prospects. A pro forma income statement is a valuable piece of information for any smart investor looking to invest; it is something we believe.
Different companies have different pro forma income statements, and it is due to this reason a company’s pro forma income statement should not be the sole information that a person researches on before investing- you can see this as a word of caution from us. In short, since there are no clear set of guidelines for companies to file their pro forma income statements, it becomes necessary to tally the earnings reported under GAAP as well.
Pros and cons of pro forma income statements
The chief drawback of pro forma income statements, as for us, is that pro forma statements are liable to be manipulated as it has the provision of leaving out certain items or products. By crafty manipulation, a company can project its future prospects as bright while in reality, it might not be the case.
As for pros, pro forma income statements are the go-to piece of information for investors in certain types of industries or instances where there has been a merger due to which a huge one-time expenditure has been caused.
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