can you use business forecast tools to help predict sales, budgets, and more?
Yes One can use business forecasting tools and predict different economic factors such as sales,budgets and more.
Business forecasting is a technique to predict the future,while taking into account the economic conditions,how the company has fared in the past,and plans of the company for future.It collects various data,analyzes it and then predicts depending upon these parameters.The sales,budget and more are the product of these past economic trends integrating with future assumptions.The tools and techniques such as qualitative forecasting,quantitative forecasting,average approach,etc are used in order to determine various attributes of an organisation.
Please give your feedback
can you use business forecast tools to help predict sales, budgets, and more?
Give an example of how budgets can help in making business decisions.
Budgets can be useful tools for planning and control, but they can also present challenges for many managers and spur unintended negative consequences. Some companies have begun exploring alternatives to traditional master budgeting. The chapters in the textbook provide a thorough examination of both the benefits and challenges of budgeting, while the article Budgets Don't Work: Here's How Businesses Can Do It Differently points out some problems caused by traditional budgeting practices and offers an alternative approach. For this discussion,...
Please can you help me calculate the sales forecast for this calculation below Need to purchase baking materials - $500 expenses Microwave oven - $400 expenses proper mixer grinders - $300 expenses Shelter or building to start a business - $25,000 asset Manpower required - $1500 expenses Budget for publicity/promotions - $400 expenses Name Painting, wall paintings - $500 expenses electricity - $ 600 expenses Furniture - $1000 asset other items - $500 expenses money should have for future purposes...
Budgets can be useful tools for planning and control, but they can also prevent challenges for many managers and spur unintended negative consequences. Some companies have begun exploring alternatives to traditional master budgeting. Carefully review each resource and provide a thorough assessment of the benefits and drawbacks of traditional budgeting practices. Explain weather you support a company's use if a traditional budget or recommend a an alternative approach. Support your viewpoint by directly citing from your learning resource you chose...
The factor to remember is that the sales unit forecast provides the catalyst for all the period budgets. T OR F? An increase in the unit sales price will cause the breakeven point to increase T OR F? Period costs can be found in inventory accounts on the balance sheet. T OR F? Product cost also means period cost. T OR F? Job order costing is used by companies who make large or unique products T OR F? Budgets are...
Accounting Quickbooks Online Advanced What are 2 key benefits of budgeting? a)Budgets can automatically forecast trends in revenue and expenses b)A budget can be used to estimate income and expenses to help with cash flow c)A mid-year revised outlook can be created with actuals for the first part of the year and revised forecast for rest of year when created mid-year d)The budget can be adjusted for projected payables and receivables based on terms e)A budget can be created for...
How is file management utilized and managed? What tools can you use? For those of you who work, how is file management managed in your place of business?"
how to calculate expected sales ( forecast sales) for the first year of a business? how to calculate the break even point for the first year?
Predict Inc., is using a simple exponential smoothing model to forecast their monthly sales but they are not sure of the best alpha value to use. They ran some computerized forecasts with different alpha values and reported the following. What alpha value should they use? alpha 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50 MAD 18.4 14.7 13.2 16.2 15.3 11.7 10.2 12.5 Group of answer choices 0.45 0.15 0.2 0.35 0.5
select a corporation whose business processes you will be able to analyze. evaluate which tools you would use to analyze its business processes, indicating your rationale. On the other hand, resources, such as accountants, business analysts, and I/T specialists who rely on documentation tools, will need proper training on these tools. You have been given the responsibility of familiarizing your team with these tools. Evaluate which techniques, in terms of their appropriateness, you would use to get your team ready...