Why are forecasting and budgeting so important? What is the difference between the two?

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Strategy Development Application

ISBN: 978-0070967465

1st edition

Authors: Gary Bissonette

See More Books

Question Posted: Mar 25, 2016 07:30 AM

See More Questions

What is the difference between forecasting and extrapolation of earnings?
What is the difference between two types of line-item budgeting approachesincremental budgeting and zero-based budgeting? Which of the two approaches is more widely used by governments?
What is the difference between data and information? Why is the distinction important?
For nearly 50 years, Loganville Window Treatments (LWT) of Loganville, Georgia, has made interior shutters that are sold through decorating centers. Figure 3.20 shows some of the various styles of...
Time Watch Co. has $46 million in earnings and is considering paying $6.45 million in interest to bondholders and $4.35 million to preferred stockholders in dividends. a. What are the bondholders...
Visit some Web sites for open source databases, such as www.postgresql.org and www.mysql.com. What do you see as major differences in administration between open source databases, such as MySQL, and...
P3-9 Consolidated balance sheet workpapers with patent and consolidated net income Peeves Corporation paid $4,000,000 in cash for an 80 percent interest in Jeeves Corporation on January 1, 2016, when...
Robert Street Barber Shop pays $30 per month for water for the first 10,000 gallons and $1.75 per thousand gallons above 10,000 gallons. Calculate the total water cost when the barber shop uses 6,000...
1 2 - the company s total assets at year - end FY 9 were GBP 3 , 5 0 0 million. Which of the following choices best describes reasonable conclusions an analyst might make about the company s...
The electric field phasor of a uniform plane wave is given by E = y10ej0.2z (V/m). If the phase velocity of the wave is 1.5 x 108 m/s and the relative permeability of the medium is r = 2 4, find (a)...
Which is more relevant in interpreting and analyzing a company's financial position: ratio analysis or absolute analysis? What is the difference between the two?
How is managing the financial resources of a not-for-profit organization different from overseeing a for-profit entity? In your mind, which is more difficult to manage?
What are the totals of the debit and credit columns from the cash payments journal for May? Debit amount: Credit amount:
You have two dashboards in the same workspace named Production and Manufacturing. Your company's Power BI administrator creates the following two dashboard data classifications: Medium Impact (MEDI)...
Question 2: Red Rocks Corporation was organized on September 1. Red Rocks encountered the following events during the first month of operations. a. Received $65,000 cash from the investors who...
he previous three weeks of data is below for the sales of sheds at SHEDS INC. Calculate the forecast for the next perioud (week 4) using a two period weighted moving average using weights of 3 and 2....
/3 3) ST tan(x) - In(cosx) dx What is the value of u? us dulcis) What is the corresponding value of du? du= 1-5mx dx cosx You must show all of your work in the space below to earn full credit. 9/3 So...
Please use the file which provides the data to answer the problems 1-3. Problem 1) The time Students entered the classroom of OM 390, Introductory Operations Management, was recorded by the professor...
What major industries are not heavily infiltrated by organized crime? a. Construction b. Waste removal c. Liquor retailing & wholesaling d. Manufacturing and mining
Which of the following is NOT a magnetic dipole when viewed from far away? a) A permanent bar magnet. b) Several circular loops of wire closely stacked together with the same current running in each...
Give three different transaction types that an industry marketplace could offer to facilitate trade between buyers and suppliers.
For each of the environmental influences shown in Figure 2.1, give examples of why it is important to monitor and respond in an e-business context. For example, the personalization mentioned in the...
Identify overlap between the different business models identified by Timmers (1999). Can you group the different business models into different types of services? Do you think these business models...
At a 3% (EAR) rate of interest, you will quadruple (increase four folds) your money in approximately ____ years.
Smile Company makes baked goods. The budgeted sales are $620,000, budgeted variable costs are $260,400, and budgeted fixed costs are $237,800. What is the budgeted operating income?
Analysis of a replacement project At times firms will need to decide if they want to continue to use their current equipment or replace the equipment with newer equipment. In this case, the company...

Why are forecasting and budgeting so important? What is the difference between the two?

Question:

Step by Step Answer:

Forecasting involves predictingprojecting results for the upcoming quarter year or planning cycle pe...View the full answer

Business Strategy Development Application

Students also viewed these Management Leadership questions