ADM 4341 Study Guide - Final Guide: Financial Statement
28 Sep 2018
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Document Summary
Forecast: to calculate or predict (a future event or condition) usually as a result of study and analysis of available pertinent data. Projection: an estimate of future possibilities based on a current trend (a what-if sort of a hypothetical situation). Standards: the compilation should be performed by a practitioner who has sufficient technical knowledge of the subject involved. This includes control testing: the practitioner should follow all the regular guidelines and standards laid out by the. Internal vs external auditor in regard to forecasts and projections: internal. Looks at issues and risks related to forecast and projections. Reports issued can be used by management to make decisions: external.
