Assignment 1: Discussion—Forecasting and Budgeting
- Which forecasting techniques are available for budgeting purposes? Would you consider using more than one technique? Why or why not? What techniques would you recommend for forecasting Compnet’s budget? Why?
- How do you get accurate and timely information from different departments so that you can accurately forecast the budget?
- When is it appropriate to adjust the budget once it has been set? Support your response using examples. What specific adjustments were relevant to Compnet during the past three years? Why?
- Other than financial data, what economic and external variables will you incorporate in making decisions while creating the budget? Why?
- If the budget is to be considered a control, what should be done to make management accountable for budget variances?
300 words APA STYLE
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