Budgeting is an outline of expectations for what a company wants to achieve for a particular period, usually one year. Characteristics of budgeting include:
Forecasting is an estimates a company’s future financial outcomes by examining historical data. Financial forecasting allows management teams to anticipate results based on previous financial data. Characteristics of financial forecasting include:
Financial forecasting can help a management team make adjustments to production and inventory levels. Additionally, a long-term forecast might help a company’s management team develop its business plan.
Variance analysis is the study of deviations of actual behaviors versus forecasted or planned behaviors in budgeting or management accounting. This is essentially concerned with how the difference of actual and planned behaviors indicates how business performance is being impacted.
Our team of professional experts helps business to prepare budget, forecast the performance and analyze variance in detail
Ever since I switched to Forthright, I have been able to save so much time on paperwork and accounting. Forthright is the best accounting software I have ever used. Highly recommend it to anyone
Since I switched to Forthright, I have seen a drastic decrease in the number of hours that I spend on bookkeeping every month. Forthright has simplified the entire process and made it very user-friendly. The customer service is excellent, and they are always available to help. Highly recommend!
I have been using Forthright for my business accounting and I have been very happy with the service. I have found their staff to be very helpful and knowledgeable. The online interface is very user-friendly and makes it easy to keep track of my finances. Highly recommend!
Office 938, Business Tower, Burjuman, Dubai, UAE