The Controllership Series - The Controller's Role in Pro Forma Financial Statements
1.00 Credits
Member Price $39
Non-Member Price $59
Overview
Pro forma statements are used by businesses to make decisions on planning and control, as well as for external reporting to owners, investors, and creditors. For example, giving financial estimates for a given period in a standardized manner is known as “presenting pro forma,” a Latin phrase that means “as a matter of form.”
Pro forma statements can be helpful tools for business owners, investors, creditors, or decision-makers to analyze various scenarios of future events based on certain financial assumptions. It might aid in making predictions performance of the company.
A pro forma income statement displays a firm’s anticipated sales and revenue. It also highlights anticipated fixed or variable operational expenses and, in the end, displays the potential profits and retained earnings for a future financial quarter. There are various types of pro-forma statements and methods to develop them.
The responsibilities/competencies of the Financial Controller position (FC) has changed in recent years. However, the creation of pro forma financial statements is still a core part of their responsibility.
Highlights
- Accounting
- Finance
Prerequisites
None
Designed For
Controllers, Accountants, Finance Professionals, Auditors
Objectives
- Explore and evaluate pro forma financial forecasting
- Explore and examine the types of pro forma statements
- Identify steps to create a pro forma statement
- Recognize the example - pro forma sales forecast
Preparation
None
Leader(s):
Leader Bios
Lynn Fountain, Sole Proprietor
Lynn Fountain, CGMA, CRMA, MBA, has over 30 years of experience in the business profession, which includes public and industry accounting and over 20 years within internal and external auditing combined. She is a nationally recognized trainer and speaker and also a published author. She is a subject matter expert and specializes in Internal Audit, Sarbanes-Oxley, Enterprise Risk Management, Fraud, Governance and Compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. She has also been instrumental in the establishment of ERM, Sarbanes-Oxley and Governance frameworks.
Ms. Fountain has developed and delivered leading edge training sessions on the new COSO framework and has assisted companies in identifying risk gap analysis in their individual processes. She currently executes two highly recognized e-workshops for the Institute of Internal Auditors, one on Fraud and the second on Ethics. Both workshops have incorporate aspects of COSO 2013.
Ms. Fountain is in the process of authoring a publication for the IIA Research Foundation on aspects of fraud auditing. The publication is due out in 2015. In addition, she has performed as an adjunct instructor for the School of Business for Grantham University and the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas.
Non-Member Price $59
Member Price $39