Tell me about yourself? What is budgeting and forecasting and difference between them? Impact of high inventory? Excess cash is good or bad for a company?

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Accepted Answer

I am a Client Financial Management Analyst with expertise in budgeting, forecasting, and analyzing financial impacts.

Budgeting is the process of creating a detailed plan for the financial activities of an organization, typically for a specific period of time.
Forecasting involves predicting future financial outcomes based on historical data and trends.
Difference: Budgeting sets a financial plan for the future, while forecasting predicts financial outcomes.
High inventory can lead to increased storage costs, obsolescence, and reduced cash flow.
Excess cash can be good if it allows for investment opportunities or financial stability, but bad if it indicates inefficient use of resources.

Tell me about yourself? What is budgeting and forecasting and difference between them? Impact of high inventory? Excess cash is good or bad for a company?

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