A budget forecast is an estimation of the expected financial performance of a business for a specific period of time. It is based on expected revenue, expenses, and other economic data. The budget forecast considers both internal and external factors that could impact a company’s success and serves as a guide for decision-making throughout the forecasting period. The budget forecast enables a business to make timely decisions, prepare for potential changes in the market, and ensure there are enough resources available to meet strategic goals.
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