Explain any gaps that most people have in their knowledge about pro forma statements.

Week 6 Instructions Evaluate knowledge of financial statements and particularly pro forma statements and respond to the following questions: 2. Evaluate the necessity of an entrepreneur using pro forma statements. Resources and References: Boundless (n.d.). Boundless Finance version 3. Retrieved from Boundless https://www.boundless.com/finance/textbooks/boundless-finance-textbook/. Read Chapter 4. Business Town (n.d.). Pro forma balance sheets. Retrieved from Business Town https://www.businesstown.com/accounting/projections-balance.asp. Business Town (n.d.). Pro forma cash flows. Retrieved from Business Town https://www.businesstown.com/accounting/projections-cashflow.asp. Business Twon (n.d.). Pro forma income statements. Retrieved from Business Town https://www.businesstown.com/accounting/projections-statements.asp. Inc. (n.d.). Pro forma statements. Retrieved from Inc. https://www.inc.com/encyclopedia/pro-forma-statements_pagen_3.html. Investopedia (n.d.). Capital investment decisions pro forma financial statements. Retrieved from Investopedia https://www.investopedia.com/walkthrough/corporate-finance/4/capital-investment-decisions/pro-forma.aspx. Wilkinson, J. (2013, July 24). Pro forma financial statements. Retrieved from The Strategic CFO https://strategiccfo.com/wikicfo/pro-forma-financial-statements/. Averkamp, H. (n.d.). Balance Sheet. Retrieved from Accounting Coach at: https://www.accountingcoach.com/balance-sheet/explanation. (All 4 Parts) Averkamp, H. (n.d.). Cash Flow Statement. Retrieved from Accounting Coach at: https://www.accountingcoach.com/cash-flow-statement/explanation. (All 8 Parts) Averkamp, H. (n.d.). Introduction to Income Statement. Retrieved from Accounting Coach at: https://www.accountingcoach.com/income-statement/explanation/1. Averkamp, H. (n.d.). Single-Step Income Statement. Retrieved from Accounting Coach at: https://www.accountingcoach.com/income-statement/explanation/3. Penn State Extension (n.d.). How can I accurately create a projected (pro forma) cash flow? Retrieved from The Pennsylvania State University https://extension.psu.edu/business/farm/frequently-asked-questions/general/how-can-i-accurately-create-a-projected-proforma-cash-flow. ProjectionHub (2013, January 31). How to create a projected balance sheet for a startup. Retrieved from ProjectionHub Blog https://blog.projectionhub.com/how-to-create-a-projected-balance-sheet-for-a-startup/. Smith, C. (n.d.). How to create a balance sheet for a service company. Retrieved from Small Business https://smallbusiness.chron.com/create-balance-sheet-service-company-11167.html.

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