Project Reports & CMA Data · Question

What is the difference between provisional and projected figures in CMA data?

Short answer

Provisional figures cover a financial year that has already ended but whose accounts are not yet audited or finalised. Projected figures are forecasts for years still to come. In CMA data, the two sit in different columns because the bank treats them differently: provisional numbers are close to fact, while projected numbers are your commitments to be tested.

In more detail

A CMA statement usually shows several time periods side by side. Understanding what each column stands for prevents the most common filling errors.

Audited. Completed years whose accounts have been finalised and signed by the auditor.
Provisional or estimated. The most recent closed year, or the current running year, built from management books before audit.
Projected. Future years, built from stated assumptions about sales, costs, capacity and funding.

Provisional figures should be reconciled to your books and returns. They are expected to be close to the audited numbers when those arrive, and a large unexplained change between the two can invite questions. Projected figures, by contrast, cannot be proved, so the lender examines whether they are reasonable against history and the industry.

If a projected assumption quietly becomes the base for the provisional column, a bank may read the data as unreliable. Equally, forgetting to carry the provisional closing balances forward as the opening position of the first projected year breaks the balance sheet chain.

Keep a bridge note

Add a short note explaining any material difference between provisional and audited figures when the audit is complete, and update the bank if the final numbers move.

Terms and the number of years expected can vary between lenders, so follow the format your lender provides and ask them to confirm how they treat the running year.

Key points

Provisional means the year is over but unaudited; projected means a forecast for future years.
Provisional figures must reconcile to books, tax records and bank statements.
The first projected year must open with the closing balances of the provisional year.
Update the lender when audited numbers differ materially from the provisional ones.

Who this applies to

Borrowers filling a bank-supplied CMA format for the first time.
Accountants preparing credit data before the audit is complete.
Owners applying for renewal or enhancement of a working capital limit.

Last reviewed 3 October 2026

This answer is general information, not advice on your particular case. Terms, eligibility, and requirements change, so check the current position with the relevant institution or authority.