are forecast or are forecasted?
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Although both are used, forecast is the preferred form. Forecast is an irregular verb, meaning that its past forms don't follow the general rule of adding ed to the base. ... That said, you can probably get away with forecasted in informal writing — but why would you want to? And if you follow AP style, stick to forecast.
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Here are the definitions for both terms from Business Dictionary. Financial Projections – “A forecast of future revenues and expenses for a business, organization, or country. ... Budget – “An estimate of costs, revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals.”
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"Each company that creates forecasts uses different models, different processes, and are edited by different meteorologists," Floehr explains. "So different forecasts for the same location may be different, and some are generally more accurate than others."
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The market forecast is the prediction of how much of all brands in a product category will be sold in a given time, while sales forecasts predict sales of a single brand. ... Sales potential is typically expressed as a percentage of market potential based on market share predictions.
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Planning, budgeting and forecasting is typically a three-step process for determining and mapping out an organization's short- and long-term financial goals: ... It may adjust the budget depending on actual revenues or compare actual financial statements to determine how close they are to meeting or exceeding the budget.
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“Will be” is the future tense of the verb “to be.” The main difference between “will” and “will be” is the verb form of the succeeding verb. In case of “will”, the first form of the verb is used whereas in case of “will be” the verb form used is the third from.
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Forecasting plays an important role in various fields of the concern. As in the case of production planning, management has to decide what to produce and with what resources. Thus forecasting is considered as the indispensable component of business, because it helps management to take correct decisions.
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Quantitative forecasting methods are based on using calculations to make forecasts. These calculations require past data. They are more objective. I think that qualitative methods are better because we are in a rapidly changing environment where many times the past is not a good predictor of the future.
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['Helping Forecast the Future. Forecasting helps decision to made and answers questions like: Should a company invest more in equipment? ... ', 'Helping in Make-or-buy Decisions. ... ', 'Forecasting Cash Flows. ... ', 'Helping Understand Performance Variances. ... ', 'Analyzing the Rate of Return.']
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Planning, budgeting and forecasting work together to help you achieve financial prosperity. The process starts with planning your short- and long-term goals. ... Budgeting sets aside the money you need for each goal, while forecasting makes adjustments when unexpected life events happen.
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Demand forecasting helps in determining the number and type of personnel/human resources required in future. ... The purpose of supply forecasting is to determine the size and quality of present and potential human resources available from within and outside the organisation to meet the future demand of human resources.
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Weather forecast is given before the date in question and gives an indication of what weather conditions could be expected. ... A weather report can only be given for a past period and gives the actual weather conditions that hale already occurred.
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A forecast is based upon assumptions reflecting the conditions the business expects to exist and the course of action reasonably expected to be followed. ... A projection is prepared to present one or more hypothetical courses of action that the business might follow.
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Answer Expert Verified Climate forecasts look at longer timescales than weather forecasts. Climate by definition is: the weather conditions prevailing in an area in general or over a long period. Weather is over a smaller period of time like how we watch the news to see the weather forecast.
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There are two types of "prospective financial statements": financial forecasts & financial projections and both relate to the current/future time period.
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Quantitative forecasting requires hard data and number crunching, while qualitative forecasting relies more on educated estimates and expert opinions. Using a combination of both of these methods to estimate your sales, revenues, production and expenses will help you create more accurate plans to guide your business.
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Qualitative forecasting techniques are subjective, based on the opinion and judgment of consumers and experts; they are appropriate when past data are not available. ... Quantitative forecasting models are used to forecast future data as a function of past data.