AICPA attestation standards define two general types of prospective financial statements, what are these two types?

*     Financial forecast -presents an entity expected future financial position, results of operations and cash flows.

*     Financial projection - present, given one or more hypothetical assumptions, an entity's expected future financial, results  operations and cash flow.

Hello Team,

driveways are never safe places to play.

Statements on Standards for Attestation Engagements (SSAEs) are issued by senior technical bodies of the AICPA designated to issue pronouncements on attestation matters. Rules 201 and 202 of the AICPA Code of Professional Conduct require an AICPA member who performs an attest engagement to comply with such pronouncements. The practitioner should have sufficient knowledge of the SSAEs to identify those that are applicable to his or her attest engagement and should be prepared to justify departures from the SSAEs.Attestation interpretations are recommendations on the application of SSAEs in specific circumstances, including engagements for entities in specialized industries, issued under the authority of AICPA senior technical bodies. If the practitioner does not apply the attestation guidance included in an applicable attestation interpretation, the practitioner should be prepared to explain how he or she complied with the SSAE provisions addressed by such attestation guidance.

Regards,

Saiyid