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Budget / Forecast / Data Modelling

Preparation of Financial Budget / Forecast. Data Modelling for Business Projections.

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Budget / Forecast / Data Modelling

 

Key Features

A Budget is a quantified expectation of what a business wants to achieve.

    • It is compared to actual results to determine variances from expected performance.
    • Management takes remedial steps to bring actual results back in line with the budget.
    • It may generally be updated once a year.

A Forecast is an estimate of what will actually be achieved.

    • It is updated at regular intervals (monthly or quarterly).
    • A forecast is used for short-term considerations, like adjustments to staffing, inventory or production plan.
    • There is no variance analysis that compares the forecast to actual results.

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