Business Essentials (12th Edition) (What's New in Intro to Business)
Business Essentials (12th Edition) (What's New in Intro to Business)
12th Edition
ISBN: 9780134728391
Author: Ronald J. Ebert, Ricky W. Griffin
Publisher: PEARSON
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Chapter 15, Problem 15.13A
Summary Introduction

To create: A Pro-forma income statement of the company.

Introduction:

Accounting is the process which would be done by the finance department of the firm. It helps the firm to keep the financial accounts. It would summarize the financial and business transaction of the firm and records it for the future use.

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Why is it so important to compare a firm's financial statements with those of previous years, those of competitors, and the average of all firms in the industry in which the firm operates?
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