We are a well-known budgeting and forecasting service provider for businesses throughout the UAE. Budgeting and financial forecasting are tools used by businesses to create a plan for where management wants to take the company and ensure that it is heading in the right direction. Budgeting and forecasting can help to ensure your company's future success.
A budget is an outline of what a company expects to achieve over a specific time period, usually one year. The budget contains information about the company's income, expenses, cash flow, and financial position. It is typically prepared for a year and remains constant.
Forecasts are made using historical data as well as current market conditions. Forecasts change as the current market situation changes. A forecast is a high-level prediction of future revenue and expenses. Long-term and short-term forecasts are both possible. The business plan may include a long-term forecast. Short-term forecasts are typically used for operational purposes when a company is experiencing cash flow issues. A budget outlines the course of action that management intends to take the company. A financial forecast is a report that shows whether the company is meeting its budget objectives and where it plans to go in the future.
A forecast is a high-level projection of future revenue items and overall expenses. forecast can be both long-term or short term. Long term forecast might be included in the business plan. Short-term forecasts are generally for operational reasons when a business is experiencing cash flow problems.
A budget outlines the direction management wants to take the company. A financial forecast is a report illustrating whether the company is reaching its budget goals and where it is heading in the future.