The successful financial path of any institution or company under construction begins from the point of view of financial success and good work management based on the available data and numbers that determine the budgets of the works and the projects implemented or those under way and implementation. The financial output is as accurate as possible.

Difference between Preparing Forecast and Financial Budgets?

In short, we can say that the financial budget relates to projects that are under construction, or that are being planned in advance. It usually deals with financial studies on future projects, expected numbers and popular prices.

While the forecasting deal with: financial studies about the projects that have been previously implemented, with the aim of clarifying the amount of profit, and the most accurate financial details about the specific project. The data of the figures covered by the study are supposed to be accurate, as they talk about things that have been implemented, expenses that have been paid or revenues that have been collected.

Purpose of Preparing Forecasting and Financial Budgets?

The financial forecasting is a clear action plan that shows expenditures, revenues, deficit and financial surplus...

As for the financial budget, it deals with the company's capital, debts, revenues, profits and losses for a specific period of time with respect to the company's overall projects or a specific project. Thus, financial budgets become a tool that helps in making future decisions, by summarizing the financial results about these businesses.

Types of Forecast and Financial Budgets

Forecasting can be divided in terms of generality and comprehensiveness into main budgets that deal with all aspects of work-related activities in general and in brief. Or detailed sub-budgets, dealing with one of the branches and parts in detail.

As for financial budgets, they are divided according to their common financial statements into:

• Main balance sheet
• Operating budget
• Cash flow statement
• Treasury budget
• Sales and import budget
• Production budget
• Purchase’s budget

Trustus Consulting Services for Forecasting and Financial Budgets?

Due to our service role in the field of establishing and managing companies in Turkey and providing their various services, we were able to meet all the needs of our clients with regard to financial accounting and its many related matters, such as corporate legal accounting in Turkey or the so-called sworn financial advisor in Turkey, in cooperation with our most skilled staff A financial accounting team in Turkey, which was able to meet the aspirations of our clients every time according to high work standards and with elaborate services.

Edited by: Trustus Consulting^©