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Forecasting and Budgeting

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Define the difference between forecasting and budgeting.

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Define the difference between forecasting and budgeting.
Budgeting is a process which includes creating of budget amounts, and tracking to check that the business stays within the budgeted expenses. This allows the businesses to have a clear idea of the amount that they would require in the future year or period. Forecasting on the other hand is the process of projecting the cash flows for the future and ...

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