![]() This step is designed to increase the forecaster's expert knowledge about the forces impacting revenues and expenditures. For instance, department heads may have an insight into activities within their own section. To support the forecasting process, use statistical data as well as the accumulated judgment and expertise of individuals inside and perhaps also outside the organization. What are the major revenues and expenditure categories?.What are the political/legal issues related to the forecast? Be aware of current laws or expected changes in laws that affect forecasts.Therefore, a government should be transparent concerning its own forecasting policy and underlying assumptions. ![]() On the other hand, an "objective" forecast seeks to estimate revenues and expenditures as accurately as possible, making it easier to balance the budget, but increasing the risk of an actual shortfall. This might make it harder to balance the budget, but reduces the risk of an actual shortfall.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |