- Often, a bank or other lender will ask you: “where do you think your business will be in a year? 2 years? 5 years?” We can help you answer that question.
- The purpose of the financial forecast is to project the revenues and expenses of your business over a given time period – usually 1 year. Three things needs to be projected in order to do this: sales, costs of goods sold, and overhead.
- Often a component of a business plan, a financial forecast (sometimes called a pro-forma income statement) is an estimate of future financial outcomes of a company. Using historical accounting and internal sales data and predictions, we will compile the information to help answer the question, “what could happen to the company over the next period?” Another product that can be offered is a cash flow forecast, which can help a business determine their cash needs for the coming period.