Planning, Budgeting and Forecasting Final Assessment

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The most common type of planning is planning, which is used to develop plans for the next three to five years

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What do the letters in PESTLE analysis stand for?

Which of the 4 strategy tools allows you to view which customers and products provide the most potential for business growth

Why are budget assumptions necessary? (check all that apply)

Without them, it would be very difficult to plan for the future or estimate costs and revenue.
So that each budget holder prepares their submission on a different basis
So budget holders know the timetable for preparing their budget

Why do many businesses reforecast during the financial year?

Unexpected things often happen that cannot be foreseen during your annual budgeting and forecasting process.
All companies must reforecast to fulfil their statutory obligations.
Reforecasting allows you to sell more to your existing customers.

How often should you re-forecast your financial results during any given period?

What is one of the most common issues with financial models?

What is the most common way to calculate the cost of capital?

Which of the following is an example of how to optimize the use of your assets?

How can finance leaders manage outcomes and help your company deliver its financial targets?

By collating lots of financial information into a spreadsheet.
By preparing detailed statutory accounts that comply with local accounting principles.
By proactively monitoring results and identifying mitigating actions.

Team Development 06 – Planning Budgeting and Forecasting