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Why must projections reconcile to historical financial statements?

April 26, 2017financial statements Historical projections reconcile

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Why must projections reconcile to historical financial statements?

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Reconciling to historic financial statements is an accounting process that ensures that it is possible to get to your end results. This step should be followed by all banks and all SBA loans. Projections that do not reconcile to financial statements are ignored / rejected. Be sure yours reconcile.