projected statement of income

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projected statement of income

projected statement of income

Note: Please, Quality and thorough data generation and analysis needed. Please carefully read below and please you must follow. Please do analysis/write up for ONLY Proctor & Gamble Company for below Requirements 1 to 3.



  1. The primary objective of corporate financial reporting is to provide “useful” information for creditors and investors for their decision making process.
  2. “Useful” information must be relevant and have faithful representation.
  3. For information to be relevant it must be available in a timely manner and possess predictive


Resources: Please you must read annual reports and write for requirements 1 & 2. Please don’t write without reading the annual reports of Proctor & Gamble

  1. Most recent annual reports (last five years) for proctor and gamble company
  2. Management’s discussion and analysis found in the annual reports.
  3. Financial statement highlights found in annual reports.
  4. Financial statement footnotes found in annual reports.
  5. Financial statement worksheets with 10 year financial information, ratios analysis, trend analysis, composite financial statements and % year over year change provided to you on Blackboard.


Requirement 1  (proctor and gamble company).

In excel prepare a projected statement of income, statement of cash flow and balance sheet for the following fiscal year based upon the information found in the resources provided above. The financial analysis worksheet has been set up to provide you a place to enter the financial information for the next fiscal year.


In arriving at your estimates for the projected financial statements you can use 3, 5, 10 year averages of trends or ratios or last years trend or ratio, analyst report projections, estimates provided by management, or any combination that you believe is a reasonable basis for estimating the item in the financial statements. Use your best judgment. There may not be a correct basis for estimating but one approach may be better than another. 


Requirement 2 (proctor and gamble company). (1 paragraph for each item with 3-4 sentences maximum)


For each item noted in the financial statements with a footnote number prepare a narrative in word that documents and describes your basis for determining the estimates in the projected financial statements. Each footnote should correspond with the element and number as found in the financial statements and should be in numerical order.


For example, documenting revenues might appear as follows:


(1) Revenues – The 2014 amounts are projected to increase 8% over the 2013 year amounts based upon average of the past three years % year over year change in revenues. There have not been any changes in the nature of the company business to suggest that this trend will continue in the future.


(1) Revenues – The 2014 revenues are projected to increase 12% over 2013 revenues based upon management’s expectation (as noted in the annual report) that revenues will increase an average of 12% over the next 3 years. This increase is expected based upon the opening of an additional 120 stores over the coming 3 years, with 40 stores opening in 2014.


(1) Revenues – 2014 revenues are projected to increase 10% over 2013 actual revenues based upon the consensus of analysts (as noted in the Morningstar analyst report). This revenue growth is expected as a result of the expansion of company operations in China and the introduction of new products in the North American markets.


Requirement 3 (proctor and gamble company). – 1 page maximum including calculations (numerator and denominator) .


Based upon the information in the projected financial statements prepared above use the following market valuation metric(s) to estimate the per share price of the company stock at the end of the next fiscal year end.

  1. Price to Earnings Per Share Ratio, Price to Book Value Per Share Ratio, Price to Cash Flow per Share Ratio, Price to Dividend per Share Ratio.
  2. Based upon the results of the share price calculations arrive at an estimate for the company share price (or a range of values for possible share price) and explain your reasoning in arriving at the estimated share price.


The calculations in a) above will be based upon your projected financial statements and there will be correct answers. However, in part b) there may not be a correct answer, but one estimate may be better than others. It may depend upon your rationale arriving at your share price.


NOTE: Please write all the formulas you have used to compute.

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