Budgeting and Forecasting
Budgeting and Forecasting is the strategic process within Finance and Accounting involving the estimation of income and expenditure. It encompasses planning and allocating funds, enabling financial control, predicting potential fluctuations, and managing financial risks, thereby ensuring organizational economic stability and growth.
Level 1: Emerging
At an emerging level, you are beginning to understand budgeting and forecasting concepts. You can assist in financial planning with guidance, showing growth in your comprehension and application skills.
Level 2: Proficient
At a proficient level, you are able to create accurate and achievable budgets and forecasts by analyzing financial data, identifying trends, and making informed decisions to drive financial stability and growth.
Level 3: Advanced
At an advanced level, you are able to expertly develop complex budgets and accurate forecasts within the Finance and Accounting realm, demonstrating a high level of strategic financial planning and analysis.
