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I'm going to assume that what you mean is "what is the difference between budgeting and forecasting". Going on that assumption:
- A budget is generally made by laying out a specific amount of money that you want to spend, often broken up into categories within which money is spent (food, clothes, rent, etc.).
- Forecasting is the process of predicting future spend. Usually, in a monthly situation, it is based on past month's and your current spend this month, essentially saying "what is the total amount you think I'll have spent at the end of the month".
This two can be used together. For example, you can use forecasting to set your monthly budget (I generally spend $100, which means I'll probably spend $100, but I want to spend less than usual, so my budget should be $90) and also use forecasting to say whether you'll meet your monthly budget (It is the second week of the month and I've already spent $80, so if I keep spending like I'm spending, I'll spend more than $90).
- A budget is generally made by laying out a specific amount of money that you want to spend, often broken up into categories within which money is spent (food, clothes, rent, etc.).
- Forecasting is the process of predicting future spend. Usually, in a monthly situation, it is based on past month's and your current spend this month, essentially saying "what is the total amount you think I'll have spent at the end of the month".
This two can be used together. For example, you can use forecasting to set your monthly budget (I generally spend $100, which means I'll probably spend $100, but I want to spend less than usual, so my budget should be $90) and also use forecasting to say whether you'll meet your monthly budget (It is the second week of the month and I've already spent $80, so if I keep spending like I'm spending, I'll spend more than $90).
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Thanks u guys it was actually for my accountancy assignment
in mca
for computer related stuffs i manage them
but accountancy and the commerce portion it m very weak
keep helping
in mca
for computer related stuffs i manage them
but accountancy and the commerce portion it m very weak
keep helping
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