What is the difference between budget and forecast
Menu
Budget and Forecast
Replies (6)
Both are same. Budgeting is a forecasting tool.
Both are same. Budgets are prepared by forecasting future receipts and payments
BUDGET IS A PREPATORY STATEMENT OBVIOUSLY WITH SOME ASSUMPTIONS FOR FORECASTING FUTURE TRANSACTIONS.
The key difference between a budget and a forecast is that a budget lays out the plan for what a business wants to achieve, while a forecast states its actual expectations for results, usually in a much more summarized format. ..
IN ORDER TO MAKE A FORECAST REALISTIC YOU NEED TO STATE THE ASSUMPTIONS WHICH ARE EVIDENTLY NECESSARY.
Both budget and forecast are based on key assumptions. This is common and not difference .
Recent Threads
- Section 44AB is Gone — How Different is Tax
- Capital Gains from Cancelled Residential Project
- Import of goods data in IMS
- GSTr 9 24-25
- Change HSN
- TDS ISSUE ( DIFFERENT SECTION )
- Company strike off with loan waiver accounting iss
- Board resolution for authorization for GST
- Invoice related audit
- Gst input credit related
Related Threads
CAclubindia
