Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

What is the difference between Budgeting & Forecasting?

user-image
Question added by Neeraj Chopra , Finance Manager , Jaidah Energy LLC
Date Posted: 2014/10/29
Ayyub khan Ibrahim Khan Deshmukh
by Ayyub khan Ibrahim Khan Deshmukh , Finance Manager , Ahmad Al-Sarraf General Trading & Contracting Est.

 

Budget

 

The financial expression of your target.

 

This is the course you have actively decided upon and set for yourself; it is your intention.

 

It is where you want to go.

 

It is normally prepared just once for each financial year.

 

 

 

Forecast

 

This is your latest expectation of what really will happen over the next few months, based on what is happening in your business now.

 

It is where you are going.

 

It is your financial radar.

 

Is most useful if prepared every month.

 

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.