Budgeting & Forecasting
Good business planning and financial forecasting is essential to the growth of any business. Our experienced accountants can guide you through this process
Whether you are a new organisation or one that has been established for many years, it is important to identify options for business development, considering how and when you want your business to develop. You need to consider issues such as how much credit to extend to customers, when you will pay suppliers, whether your business is seasonal, when new products will be developed and introduced and how you are going to fund the business. Accurate budgeting and forecasting will help you do this.
As you move forward, it is also useful to compare your actual results against your predictions, allowing you to identify where performance was better or worse than expected and then, if appropriate, take steps to modify your operations.
We can assist you to prepare business budgets and forecasts, linking cash flow forecasts with projected profit and loss accounts and balance sheets. We will help you review the assumptions you use in preparing any projections, assessing if they are realistic. Using your monthly management accounts, we can work with you to identify variances in performance and suggest how and why these variances have arisen.