Difference between revisions of "Forecast"
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== IGC-DEFINITION (abbreviated) == | == IGC-DEFINITION (abbreviated) == | ||
'''Forecast'''<br> | '''Forecast'''<br> | ||
| − | The forecast is the logical continuation of the comparison between budgeted and actual figures. Here managers are asked for their forecasts for the remainder of the budget period and these are then quantified and qualified. The intention is to see whether the business will succeed in achieving its planned objectives at the year-end (or at the end of the bud-get period). What is sought are the expected results at the end of the period. On the basis of the results achieved so far, of experiences to date, and the remainder of the budget managers consider corrective actions and their effects. | + | The forecast is the logical continuation of the [[Variance analysis / comparison of budgeted and actual figures CBA|comparison between budgeted and actual figures]]. Here managers are asked for their forecasts for the remainder of the budget period and these are then quantified and qualified. The intention is to see whether the business will succeed in achieving its planned objectives at the year-end (or at the end of the bud-get period). What is sought are the expected results at the end of the period. On the basis of the results achieved so far, of experiences to date, and the remainder of the budget managers consider corrective actions and their effects. |
from: [http://www.igc-controlling.org/EN/_publikationen/publikationen.php IGC-Controller-Wörterbuch, International Group of Controlling (Hrsg.)] | from: [http://www.igc-controlling.org/EN/_publikationen/publikationen.php IGC-Controller-Wörterbuch, International Group of Controlling (Hrsg.)] | ||
Revision as of 14:12, 31 August 2010
IGC-DEFINITION (abbreviated)
Forecast
The forecast is the logical continuation of the comparison between budgeted and actual figures. Here managers are asked for their forecasts for the remainder of the budget period and these are then quantified and qualified. The intention is to see whether the business will succeed in achieving its planned objectives at the year-end (or at the end of the bud-get period). What is sought are the expected results at the end of the period. On the basis of the results achieved so far, of experiences to date, and the remainder of the budget managers consider corrective actions and their effects.
from: IGC-Controller-Wörterbuch, International Group of Controlling (Hrsg.)
