How is the forecasted financial position forecasted?

The forecast is typically limited to major revenue and expense line items. There is usually no forecast for financial position, though cash flows may be forecasted. The forecast is updated at regular intervals, perhaps monthly or quarterly.

What is best fit forecasting?

Best fit forecasting is a procedure within most supply chain forecasting applications. It is a procedure that: Compares all of the forecasting models within that application for each item being forecasts. Automatically calculates the error for each model.

What is a forecasting procedure?

It is a procedure that: Compares all of the forecasting models within that application for each item being forecasts. Automatically calculates the error for each model. Assigns the forecast model to the forecasted item (the product location combination, the product, the product group: whatever is being forecasted)

What is a forecast in accounting?

What is a Forecast? A forecast is an estimate of what will actually be achieved. Its characteristics are: The forecast is typically limited to major revenue and expense line items. There is usually no forecast for financial position, though cash flows may be forecasted. The forecast is updated at regular intervals, perhaps monthly or quarterly.