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What is difference in forecast and budget?

Accounting Financial Reporting Financial Management Finance
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Question added by Altaf Bhoon ACA , Assistant Finance Manager , Atlantic Maritime Group FZE
Date Posted: 2014/11/23
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Mohammed Ismael
by Mohammed Ismael , Finance Manager , confidintional

Budget is a plan what business want to achive , a forecast is an estimate of what will actually be achieved.

Forecast is related to expenses and revenue but budget include (PL, BS, cash follow )

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