Archive for July, 2012

Accounting 201: The purpose of forecasting is to plan for the future!

July 14, 2012

It is NOT to predict next year’s sales. The key word is planning – you attempt to reduce the uncertainty about the future

Forecasting is a process that lets managers plan what is necessary to be successful!

  • Sales growth requires planning!
  • Sales forecast is the starting point. Take the sales projection and show what the company must do to be successful!