What is this?

This refers to financial data that predicts financial performance of a business. The time
period covered for the forecast may be a month, a year or more than a year. Whereas
management accounts data refers to actual data, forecasts refer to estimates and
predictions.

Why would you need this service?

Budgeting and forecasting for 3rd parties i.e. to support applications for finance
from banks and other financial institutions.
For business plans over the next 3 to 5 years.
To answer the 'what if' questions.
To know how the business will perform over the forecast period. This applies even if
the forecast includes a 'do nothing' action.

Prerequisites

Production of regular management accounts.
Understanding of key performance indicators for the business.
Agreed format for forecasts. Usually follows the same format as the management
accounts but the forecast format should also identify level of detail (low to high),
policy (from zero base to actual figures forming the base) and timescales (phased
monthly for example).

How can we help?

Full forecasting process service available using actual financial data as a start,
estimating the current financial year out turn and then providing a phased first
year budget followed by unphased year 2 and 3.
Create forecasts as required for 1 year phased by month, quarter or half year.