FINANCIAL PROJECTIONS are prospective financial statements that present, given one or more hypothetical assumptions, an entity's expected financial position, results of operations, and changes in financial position. A financial projection includes several alternative scenarios while a forecast is the single most likely scenario.
COMPLIANCE AUDIT is the review of financial records to determine whether the entity is complying with specific procedures or rules.
CONTANGO is the commission paid by a buyer for the postponement of a transaction on a stock exchange when prices for future delivery are higher than those for cash or spot transactions. The opposite is backwardation.
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