Diff between forecasting and budgeting, sale of assets and their effects in fs, provision for doubtful debt entry, unrealised/ realised gain and loss meaning, what are we check if there is any diff between budgeted and actuals like in 'ee cost, electricity cost, salaries, etc

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Answering questions related to financial analysis including forecasting, budgeting, sale of assets, provision for doubtful debt, and budget vs actuals.

Forecasting involves predicting future financial performance while budgeting involves setting financial goals and targets.
Sale of assets can impact financial statements through gains or losses.
Provision for doubtful debt is an estimate of potential bad debts and is recorded as an expense.
Realized gains and losses are from completed transactions while unrealized gains and losses are from assets that have not been sold.
Checking for differences between budgeted and actuals involves analyzing variances and identifying potential areas for improvement.
Examples of areas to check for variances include employee costs, electricity costs, and salaries.

Diff between forecasting and budgeting, sale of assets and their effects in fs, provision for doubtful debt entry, unrealised/ realised gain and loss meaning, what are we check if there is any diff between budgeted and actuals like in 'ee cost, electricity cost, salaries, etc

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