Budgeting and Forecasting are subsets of the FP&A function. Budgeting and forecasting are two closely related financial planning processes. Budgeting involves the preparation of a plan for expected expenses and revenue for a specified period of time, typically a fiscal year. Forecasting is the process of predicting future financial performance based on past performance, current conditions, and other available data. Both processes are used to help businesses make informed decisions and plan for the future. SC can help its clients by providing data, analysis, and insights into the company’s financial situation. They can also provide advice on which variables and assumptions should be used in the budget and forecast, as well as which performance metrics should be monitored. Additionally, we can provide guidance on how to track actual performance against the budget and forecast, and suggest corrective actions if needed.

Budgeting and forecasting are two related strategies used in financial planning. Budgeting consists of creating a plan of expected costs and income for a given period, typically a fiscal year. Meanwhile, forecasting is the practice of predicting future financial performance based on current conditions, past performance, and other available data. Both processes are used to help businesses make informed decisions and plan for the future.