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Difference between forecasting and a budget?

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تم إضافة السؤال من قبل Saneesh Thai Valappil , Senior Accountant , Blue Line Industries LLC
تاريخ النشر: 2017/10/11
Waqas Zahid
من قبل Waqas Zahid , Sales Manager , FREIGHT WORLD GROUP

Budgeting and forecasting are highly related yet there is a thin line. Budgeting is normally quantifying the estimated sales revenue that the company will earn in a certain period of time. Whereas, forecasting estimates the revenue a firm will be able to achieve on realistic grounds.

In short, budgeting is where the business wants to go and forecasting is where the business is actually going.

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