What is Financial Forecasting?

Hi Docsity Community, can some one provide information on the forecasting of the financial statements.
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A financial forecast is an estimate of future financial outcomes for a company or country (for futures and currency markets). Using historical internal accounting and sales data, in addition to external market and economic indicators, a financial forecast is an economist's best guess of what will happen to a company in financial terms over a given time period—which is usually one year.
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"Debatably, the most hard facet of preparing a monetary outlook will be forecasting gross. Upcoming expenses might be believed through the use of historical accounting information; varying expenses will also be the perform of gross revenue. Dissimilar a fiscal architectural plan or possibly a price range a fiscal estimate doesn't need to get used to be a organizing written document. Away analysts will use an economic forecast to estimation A corporation's good results in the advent year."
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