Chapter 17
Preparing Best-in-Class Forecasts, Projections, and Budgets
IN THIS CHAPTER
Looking at planning and forecasting, tied together at the hip
Understanding the management importance of preparing financial forecasts
Developing models for financial forecasts
Adding power to your financial forecasts
Seeing financial forecasts in action
Circling back around with some useful forecasting tips
Let’s start this chapter by making an extremely important statement: In today’s rapidly changing and evolving economy, all businesses, no matter the size, shape, legal structure, or industry of operation, need to develop business plans. Period! While this statement may appear to be very logical and represent common sense, you would be absolutely amazed at how often businesses simply operate by “the seat of their pants” without a well-developed and structured business plan.
The planning process ...
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