Are you looking for business forecasting and budgeting services ? Let us help you improve your planning, budgeting and forecasting processes.
Budgeting is an important component of financial success for any business.
A budget is a business’s financial plan to better manage monthly, quarterly and annual cash inflows and outflows. The purpose of budget is:
- Helps an organization to allocate financial resources between various operating departments
- Provides a benchmark of evaluating performance against financial goals, objectives
- An effective communication tool used to express financial goals and objectives of the organization
- An effective communication tool used for managers and others users
Forecasting is a process that allows business’s to use historical data to make financial projections in the long-run. The purpose of forecasting is:
- A useful tool that provides information to make intelligent business decisions
- Helps to identify unexpected issues; therefore, allowing timely corrective action
- Allows companies to quickly identify potential opportunities
- An effective communication tool used to express expected and anticipated financial results
Still confused to see the differences between budgeting and forecasting?
Budgeting is a financial plan that is prepared annually and it identifies desired results (goals and/or objectives) of a business.
Forecasting is a projection of expected results within a given year.
Note the difference: budgets are financial plans with desired results; whereas, forecasts are predictions of expected results.
Operating budgets – are prepared annually for the company entirely and its departments. Annual costs of different projects are also included in the operating budgets.
Project budgets – prepared for the entire life of a project. They are used to control and report individual cost of a project.
Capital budgets are prepared to help identify, assess and plan for a company’s capital needs to meet their goals and objectives. Capital expenditures include furniture and equipment, capital software and more.
Lilia Chiper accounting taxes Inc. works to provide budgeting services to help you better integrate your company’s strategic plans with the different kind of budgets.
Business Forecasting Services helps company compare the projected results with the actuals.
It is very important for small to mid-size companies to prepare financial forecasts that are very closely aligned to the company’s overall goals and objectives.
Why To Choose Lilia Chiper accounting taxes Inc. for Budgeting Planning And Forecasting ?
We provide budgeting and business forecasting services from small start-ups to large incorporated businesses. We work with you to plan your business’s financials to help your business thrive. We will analyze between your actual and forecasted and will provide feedback with areas that can be improved. With years of budgeting and forecasting experience Lilia Chiper accounting taxes Inc. is the firm you want to work with to plan your business’s budgeting.
Please complete the form for more information or set up a consultation with Lilia Chiper accounting taxes to plan and implement a budgeting system.
