Budgeting and forecasting are tools that companies use to establish a plan to ensure that the company is heading in the right direction.
Although budgeting and forecasting are used together there are distinct differences between them.
A budget outlines the expectations that a company wants to achieve for a particular period, usually a year. Forecasting estimates a company’s future outcomes by using historical data. It enables management to be able to anticipate results.
We can assist you in both of these areas in the frequency that you require, for example budgeting annually, forecasting monthly or quarterly.