Financial Budgets and Forecasting
Insightful Financial Budgets & Forecasting

Insightful Financial Budgets & Forecasting

Forward looking insight to help you navigate your business with confidence 

The Insightful Financial Budget and Forecasting Difference

Save time

Customized budgets and forecasts provide you with the information you need at the click of a button. 

Avoid Surprises

Anticipate changing business conditions and have a plan of action ready.  

Save money

With the right forecasts and reports in hand, you can quickly identify problems and adjust operations while they are still small. 

Grow your business

Business growth may not always follow a straight line up, and with insightful financial budgets and forecasting, you can minimize the downward blips. 

How will you respond to a changing business climate?

Successful businesses anticipate a range of future outcomes through the use of financial budgets and forecasting.  

Financial reporting largely deals with presenting data from the past.  In contrast, financial budgets and forecasting focus on the future.  

Budgets help guide future operations. 

We likely have all heard the term ‘budget’ as it applies to your household. Typically, a budget in those terms lays out the money coming in with the expenses going out. 

Using a budget for your business isn’t much different. Budgets can predetermine how and where company funds will be spent. Some budget figures will be variable, increasing or decreasing with company sales and/or production, while other budget figures will be fixed from one period to the next.  

Budgets can add clarity for your management team and staff on how company funds are allocated, while firming up the decision process on discretionary spending. 

Budgets can also be a wonderful measuring stick on how revenues earned and expenses incurred throughout the year are matching up with your expectations. 

Often times, a good monthly budget and analysis of current financials can provide valuable information to take corrective action or otherwise improve company performance.  

If a weather forecast called for storms, you'd probably prepare for that. 

Financial forecasting can be equally helpful in business.  

Forecasting can be leveraged to look at multiple outcomes to a given scenario.  This can be a powerful decision-making tool for a business evaluating change with uncertain outcome.

Financial projections, or pro forma financials, are often requested by banks and lending institutions in conjunction with loan requests.

Forecasting examples

Equipment purchases - Often times companies exploring investments in equipment and other fixed assets designed to increase production and sales will often want to forecast their financials to reflect the added capacity.  

Business purchase - A company looking to acquire another business will want to forecast their financial performance after the merger or acquisition.

Employee Compensation - Salary and benefits can be a competitive advantage to attract and retain employees.  Forecasting can help a business owner evaluate how wages can impact pricing and profitability. 

Insightful Financial Budgets and Forecasting Can Make the Difference

If your need to predict future outcomes is important, who you choose to help you is paramount.  
Insightful Tax and Advisory Services has the experience to help you anticipate the future with confidence.   Contact us today at 405-400-1230 to schedule an initial consultation. 
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