A compilation refers to a company’s financial statements that have been prepared or compiled that converts the client’s data into financial statements without providing any assurances or auditing services.
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or a corporation.
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In its simplest form, a financial projection is a forecast of future revenues and expenses. Typically, the projection will account for internal or historical data and will include a prediction of external market factors. Often a projection will also include a statement of financial position, cash flow projections and narrative of the business and assumptions made.