Difference between revisions of "Business Forecast"

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Forecasts will be prepared by a business for a variety of reasons.  Many companies require a forecast quarterly or half-yearly to determine how much a company might be over or under budget.
 
Forecasts will be prepared by a business for a variety of reasons.  Many companies require a forecast quarterly or half-yearly to determine how much a company might be over or under budget.
  
A forecast maybe required if there is a major change within a business.  This could include introduction of a new product, or a finding that an existing product is hazardous.  Or, a forecast might be prepared if a new competitor emerged, or disappeared.  Major events completely unrelated to the business, such as the 9/11 terror attacks, may result in a forecast being prepared.  
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A forecast maybe required if there is a major change within a business.  This could include introduction of a new [[product]], or a finding that an existing product is hazardous.  Or, a forecast might be prepared if a new [[Competition|competitor]] emerged, or disappeared.  Major events completely unrelated to the business, such as the [[9/11 terror attacks]], may result in a forecast being prepared.  
  
 
[[Category:Business]]
 
[[Category:Business]]
 
[[Category:Finance]]
 
[[Category:Finance]]
 
[[Category:Accounting]]
 
[[Category:Accounting]]

Latest revision as of 18:44, September 4, 2011

A Business forecast is management's best estimate of what will happen during the forecast period. It is not a budget, which is more in the nature of a target.

Forecasts will be prepared by a business for a variety of reasons. Many companies require a forecast quarterly or half-yearly to determine how much a company might be over or under budget.

A forecast maybe required if there is a major change within a business. This could include introduction of a new product, or a finding that an existing product is hazardous. Or, a forecast might be prepared if a new competitor emerged, or disappeared. Major events completely unrelated to the business, such as the 9/11 terror attacks, may result in a forecast being prepared.