Budget and forecast
The budget details show how the plan will be executed month by month and covers items such as revenues, expenses, potential cash flows, and debt reduction. Traditionally, a company would set a fiscal year and create a yearly budget. May adjust the budget based on actual revenue or compare accurate financial data to determine how close it is to meeting or exceeding the budget. Forecasting takes historical data and current market conditions and predicts how much revenue the organization can expect over the next few months or years. Forecasts are usually revised as new information becomes available.
At Ibgates, we have a team of budgeting/forecasting experts and specialists who perform the following services
- In (IBgates), we develop budgets that provide a detailed representation of the future results, financial position, and cash flows that management wants the company to achieve during a specific period.
- Our experts update the budget once a year, depending on how frequently senior management wants to review the information.
- The budget our experts create is compared to actual results to determine variances from expected performance.
- Our experts will take corrective steps to bring actual results back in line with the budget.
- Our budget for actual comparison experts could lead to changes in the performance-based compensation paid to employees.
- Our experts follow a working mechanism based on significant revenue and expenditure items forecasts. There is usually no projection of the financial position, although the cash flows can be predicted.
- Our experts have decided to update forecasts at regular intervals, monthly or quarterly.
- Our experts can use forecasts for short-term operational considerations, such as adjustments in staffing, inventory levels, and production plans.
Sample
You can download a sample file using the link below: