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Projected and provisional and estimated

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How  to prepare provisional and estimated and projected financial statements and what is the difference between provisional and estimated and projected financial statement s.

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Provisional Balance Sheet: – Provisional Balance Sheet is prepared on the basis of Past data i.e. for the period which is already completed.

Estimated Balance Sheet: – Estimated Balance Sheet is prepared for future Data (for which period is started but not completed) on basis of projection i.e. for the period which already started but not completed.

Projected Balance Sheet – Projected Balance Sheet is prepared for future Data on the basis of projection i.e. for which period is not started.

Example: -If one person prepares balance sheet for periods- 01/04/2019 to 30/06/2019, 01/04/2019 to 31/03/2020, 01/04/2020 to 31/03/2021 on date 15 July 2019 then balance are as follows: -Preparation of Balance Sheet for the Period 1st April 2019 to 30th June 2019 is Provisional Balance Sheet. Preparation of Balance Sheet for the Period 1st April 2019 to 31st March 2020 is Estimated Balance Sheet. Preparation of Balance Sheet for the Period 1st April 2020 to 31st March 2021 Projected Balance Sheet.

Hope this information helps you.

Regards,

mike

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Provisional Balance Sheet: – Provisional Balance Sheet is prepared on the basis of Past data i.e. for the period which is already completed. … Projected Balance Sheet – Projected Balance Sheet is prepared for future Data on the basis of projection i.e. for which period is not started.

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