What is the difference between a budget and a forecast, and why is it important to understand?
If you are involved in planning and managing the financial performance of your business, you need to know the difference between a budget and a forecast, and why it is important to understand. A budget and a forecast are both tools that help you set goals, allocate resources, monitor progress, and adjust actions, but they are not the same thing. In this article, we will explain the main characteristics, purposes, and benefits of each tool, and how to use them effectively in your budgeting and forecasting process.
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Rajesh KumarCluster Director of Finance at Rotana
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Aleksandar Stojanović, MSc.Proven growth system for SaaS companies | Helped clients save $300k and boost revenue | Fractional CFO & FP&A Advisor
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Jason M.Helping entrepreneurs enhance and promote a balanced lifestyle through identifying growth opportunities while providing…