Budgeting Planning & Forcasting
Budget planning and forecasting help to ensure that the company can meet its financial goals and objectives, while also providing an accurate picture of the company's financial health. Budget planning involves creating a plan for how much money the company will need to spend in order to reach its financial goals. Budget planning also involves tracking and analyzing past spending and revenue to identify areas where the company can save money or increase efficiency. Forecasting involves predicting future income and expenses based on current trends and market conditions.. Forecasting allows the company toplan for the future and adjust its budget accordingly.