Extrapolating historical data is one way of creating a financial forecast. If you’re a new business or a you are launching a new product, you need a different process. In this article we go through what this process looks like and how you can make effective projections even without past figures to reference.
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!
This week we bring you the story of Lifemesh, a healthcare tech startup who used Brixx to test the future of their business and promote an agile approach.
The cash flow statement is one of the more common reports used by accountants. It is a measure of all the incoming and outgoing cash activity of the business and is usually estimated at a monthly level. You may think that all that matters is your profit margin but cash flow is critical.
The key difference between a cash flow forecast and another report like the income statement is that it’s all about timing. When cash is parted with or received is vitally important. It will not take into account future sales received on credit. It’s a true reflection of your bank accounts inflows and outflows. Not what might be, but what is.