plain financial statements
[/pleɪn fəˈnænʃəl ˈsteɪtmənts/]
noun
demonstrações financeiras simples
1. Financial statements presented without audit or review by an independent accountant, representing unaudited and unreviewed financial data
The small startup submitted plain financial statements to the bank for their loan application.
A pequena startup apresentou demonstrações financeiras simples ao banco para sua solicitação de empréstimo.
2. Basic financial statements that show financial position and performance without professional assurance or certification
Plain financial statements are often used for internal management purposes.
Demonstrações financeiras simples são frequentemente utilizadas para fins de gestão interna.
3. Unaudited financial reports that have not undergone independent verification or attestation
The company provided plain financial statements compiled from their accounting records.
A empresa forneceu demonstrações financeiras simples compiladas de seus registros contábeis.
In Brazil, plain financial statements are commonly used by small and medium-sized enterprises (SMEs) for internal management and informal lending purposes. In the USA, the distinction between plain, compiled, reviewed, and audited financial statements is more formalized in accounting standards (AICPA). Plain financial statements do not carry professional assurance and therefore carry higher risk for external stakeholders, which is why they are typically used for internal purposes rather than public or regulatory reporting.
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