52. Marketing Financial Forecast

By Roger Bryan

Every business exists for the purpose of earning money. For establishing and achieving future financial targets, it is necessary to be able to estimate of future financial earnings for a company. An economist is able to estimate the future earnings based upon the past internal sales and accounting data which is combined with economic indicators and external markets, over a given time period

Usually, financial forecasting is done for the period of coming year. One of the most difficult aspects of financial forecasting is predicting the revenue which will be earned by the company during a specified period, sometimes which is not achieved due to change in any single factor.

One of the advantages of the financial forecasting is that in the process, you get to review all the data and get it analyzed. You get to know the weak areas of the company. Second, you can set the actual targets for the company. Financial forecasting is a necessary part of the business plan as it estimates the future earnings of the company as well as points toward a firm target. It also shows the investors that the company is serious in achieving targets. In a business plan, financial forecasting is usually a part of marketing plans.

Every business exists for the purpose of earning money. For establishing and achieving future financial targets, it is necessary to be able to estimate of future financial earnings for a company. An economist is able to estimate the future earnings based upon the past internal sales and accounting data which is combined with economic indicators and external markets, over a given time period.

Usually, financial forecasting is done for the period of coming year. One of the most difficult aspects of financial forecasting is predicting the revenue which will be earned by the company during a specified period, sometimes which is not achieved due to change in any single factor.

One of the advantages of the financial forecasting is that in the process, you get to review all the data and get it analyzed. You get to know the weak areas of the company. Second, you can set the actual targets for the company. Financial forecasting is a necessary part of the business plan as it estimates the future earnings of the company as well as points toward a firm target. It also shows the investors that the company is serious in achieving targets. In a business plan, financial forecasting is usually a part of marketing plans.

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