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PROJECTION AND FORECASTS

Businesses often require outside assistance in preparing internal budgets, forecasts or projections. We can assist you prepare a budget or complete a forecast or projection:

  • for internal financial management purposes
  • to support an application for bank financing
  • to meet the terms of your current banking agreement
  • to assess the effect of a course of action being considered, i.e. purchase of new technology

Financial forecasts are prospective financial statements that present an entity’s expected financial position and the results of its operations, and changes in its financial position. It is based on the party’s assumptions reflecting conditions it expects to exist and the course of action it expects to take.

Financial projections are prospective financial statements that are based upon one or more hypothetical assumptions, and present an entity’s expected financial position, results of operations, and changes in financial position. A projection, unlike a forecast, is sometimes prepared to present one or more hypothetical courses of action for evaluation.

 

 

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