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.
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).
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.