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Title: Explain the purpose of budgets and forecasts. Post by: Hobigob on Feb 8, 2018 Explain the purpose of budgets and forecasts.
What will be an ideal response? Title: Explain the purpose of budgets and forecasts. Post by: ernurse on Feb 8, 2018 Forecasting uses historical information and knowledge of external factors to predict future results. These forecasts are used to build a budget. Forecasting usually takes past numbers and builds in a certain additional percentage to account for growth. A budget is a plan that shows how managers expect to obtain and use resources to achieve the objectives of the business.
Title: Explain the purpose of budgets and forecasts. Post by: Hobigob on Feb 8, 2018 :white_check_mark: Correct!
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