PROSPECTIVE FINANCIAL STATEMENTS Definition

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PROSPECTIVE FINANCIAL STATEMENTS are either financial forecasts or financial projections. Prospective financial statements may cover a period that has partially expired. Statements for periods that have completely expired are not prospective financial statements.

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CLASSIFICATION, generally, is the act of distributing things into classes or categories of the same type. In accounting, there are many ways to classify information, e.g. assets, liabilities or equity and the many subsets to those three classifications.

COGAS is Cost Of Goods Available for Sale. See COST OF GOODS SOLD.

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