Financial forecasting is always important for any business. It allows you to know what's coming down the road. Specifically, revenue forecasting allows you to know your financial standing, identify risks, identify trends and make adjustments to your business plan. It identifies potential problems down the pipeline and with this knowledge, companies can make adjustments to avoid risk. In addition, revenue forecasting makes your company attractive to potential investors. With the unpredictability of today's times, financial forecasting and revenue forecasting can help ensure a business's success.
Driver-based planning is a type of management that zeros in on a company's key value drivers and key business.
Cathy Becker, CPA, Senior Controller and Project Manager here at AccountingDepartment.com, joined up with the Jirav.