Financial forecasting part two – 5 steps to create a profit and loss forecast
Keep your forecast fluid, as a working document, much like your business plan; review it and update it with what actually happened. Don’t hide it away to collect dust!
Profit and Loss
Financial forecasting part one – How important is a profit and loss forecast?
A forecast can you help answer questions like; How much better could my business be if I looked at the numbers in advance? What is my growth going to look like? What impact is that growth going to have on my working capital? Can I expand my business and make new hires? And do I need to assess my investment spending?