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Categories >> Accounting >> Audit


 Audit interview questions  Audit Interview Questions (428)
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What is difference between provisional and projected 
balance sheet of the company??
 Question Submitted By :: Audit
I also faced this Question!!     Answer Posted By  
# 1
Provisional Balance Sheet is the one prepared as at the end
an accounting period as per the books of accounts before
statutory audit. In other words it's an un-audited Balance
Sheet, which may be subject to change during the course of
statutory audit.
Where as the a Projected Balance sheet, is a Balance Sheet
as at the end of a future accounting period, which is
prepared to present the Financial position as per the
present plans. Generally projected Accounts Statements are
prepared for 3, 5, 7 or longer future years to present to
banks, financial institutions, venture capitalists or any
one who is a potential investor in or a lender to the company.
Here Financial Statemetns means Profit & loss Account &
balance Sheet. it may also include Cash-Flow Statements,
Funds-Flow Statements, Explanatory Notes, Assumptions, etc.
Is This Answer Correct ?    264 Yes 20 No
H.r. Sreepada Bhagi

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