Forecasting assists fiscal officers and leadership in projecting future outcomes and/or trends. The Forecast Report is a management tool that presents financial information (revenue and expense) based on actual and budgeted (projected) amounts within the current fiscal year. Forecasting assists fiscal officers and leadership in projecting future outcomes and/or trends

Financial forecasting is the process of estimating or predicting how a business will perform in the future. The most common type of financial forecast is an income statement; however, in a complete financial model, all three financial statements are forecasted. In this guide on how to build a financial forecast, we will complete the income statement model from revenue to operating profit or EBIT