Model the future
Model the future
Model the future
When looking at budgeting and financial scenario modelling for restaurants, identifying and understanding the effects that events and decisions will have on demands for your product line is key. By shifting to financial scenario modelling, you will be able to plan for multiple outcomes more accurately.
All business owners should be using forecasting for one reason or another. Especially for e-commerce, business forecasting provides a tentative roadmap so you can make smarter, more informed business decisions.
Financial forecasting is a crucial business activity – so why isn’t everybody talking about it? In this ultimate guide, we bring together the reasons why forecasting is so important and how to go about making realistic forecasts painlessly!
The third and final part of the Beginner’s Guide to Variance Analysis! In this article, we recap the methodology of actuals vs forecast analysis and look at how to interpret the results. It turns out that re-forecasting and course correction are just some of the things that variance analysis can offer a business.
In the second article in our Beginner’s Guide to Variance Analysis, we look at the kinds of information you’ll need to complete a variance analysis, and how to calculate the % variance between actual and forecast values.
In the first of 3 articles on ‘A Beginner’s Guide to Variance Analysis’, I’m going to explain what actual vs forecast based variance analysis is – and how to plan effectively using it.
This week we have an exciting preview of our upcoming feature – Actuals vs Forecast! We’ve had so many requests for this – and very soon you’ll be able to add real-life data to your plan and get detailed variance comparisons.
Estimating your start up costs can be daunting. Let us help you identify what you need to research when putting together your initial start up budget.
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