Before we talk about how the Forecast is calculated, let’s give a brief explanation of what the Forecast is.
Forecast is an expression used in the financial administration area of companies. The concept of Forecast, also called “revised budget”, is a method of forecasting, analyzing and reviewing a budget, based on the current situation of the company. However, depending on market volatility, this forecast may change. Therefore, learning to identify and adapt to new variations is the purpose of Forecast.
If the indicator does not have a formula for actual results, the forecast must be typed in.
If the indicator has a formula for actual results, the forecast must use the same formula as actual results, but taking the forecast values of the items in the formula. Ex.: if the formula for the actual is: ActualIND1+ActualIND2, the forecast value will be: ForecastIND1+ForecastIND2
The same goes for the accumulated forecast, if the formula for the actual is: AccumulatedActualIND1+AccumulatedActualIND2, the forecast value will be: AccumulatedForecastIND1+AccumulatedForecastIND2
However, if the accumulated actual is typed/sum/average/equal to the period value, the accumulated forecast will also be typed/sum/average/equal to the period value.