The Financial Forecast is an important aspect of your accounting and will indicate the future financial needs and demands on your business. Forecasts are usually for 12 months in advance but can be up to 10 years for long term planning.
Forecasts are based on predictions and with all ‘guesstimates’ the more information available the more accurate the result will be.
Forecast information is not a budget estimate but a financial forecast to indicate the companies future
Fail to Plan then Plan to Fail
It is important to have a plan and know where your business is going. Financial forecasts are a necessary tool to enable you to monitor and control your business finances effectively.
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