Budgeting / Profit Forecasts

By: TW Accounting Services (Chartered Management Accountant)  28/10/2014
Keywords: budgets, budgeting

Budgets and Profit Forecasts are essentially plans for the future for your business. These are often required externally when you are applying for further investment and loans, but are also extremely useful internally for managing the business. Do you know where you want to be with the business in the next 5 years, how do you intend to get there? How will you know if you are on track or not if you don’t measure the business performance against your goal? Drawing up plans for the future can be hugely beneficial, not only does it give you somewhere to aim, but it also gives you something to evaluate against if you are on target to attain your goals. If achieving your goals is looking unlikely you can take early action and change your activities or plans. We can help you by building (with you) achievable goals (Budgets) for the future and with our Management Accounting service we can monitor your activity against these goals giving you early warning of any deviations or problems that are likely to occur.

Keywords: budgeting, budgets

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