A financial statement or an estimate of earnings that is based on an assumption of future events. [From the Latin pro forma, which translates literally as for form, but is used to indicate that something will be carried out in a particular manner.] Pro forma financial reports are sometimes used to present a picture of a company's financial condition if a merger or other major company restructuring were to take place and can vary greatly from numbers reported using generally accepted accounting procedures (GAAP).
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