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Thank you very much for your professional accounting service! Special thanks to Jc and Asif, very kind, understandable and patient! They did my Self Assessment and CGT. Don’t hesitate to use Legend Financial accounting services, you wouldn’t regret it!
I am using their services from the last few years for my business accounts and i found them very professional. Great one-to-one care with no hidden/additional charges and prompt responses from the team whenever I have a question......I would definitely recommend Legend Financial to my all friends as they are simply brilliant.
I've had a query regarding my taxation. I queried in the Morning and within an hour received communication from Asif (Client Manager). I am very pleased with the response time and the advice I receive for my tax matters. I have been a client for 10 years and have always received an excellent service.
Amazing, reliable and very fast service. Legend financial reach out to you once a return is due and sorts out everything in a very fast manner. Their dedicated team members are always reachable on whatsapp and answer all queries right away. I would like to thank Beenish, Musa and other team members for their dedication. Highly recommend!!!
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Budgeting and Forecasting Enquiries Answered in Details
FAQs for Budgeting & Forecasting
A budget sets the financial course for your company, whilst a forecast assesses whether you are on track to meet your finance goals as set in the budget. In long-term financial forecasting, you can even use historical data from previous budgets, even if a budget was not initially in place.
Planning involves crafting strategies based on forecasts, whilst forecasting offers insights into potential outcomes when executing those strategies in a specific environment. Planning guides what your firm should do, whereas forecasting provides a glimpse into what might occur when your firm enacts a particular strategy within a given context.
Forecasting assists in expenses allocation, helping your team decide how to best use time, money, and other resources to achieve your cash flow objectives within specific timeframes. Additionally, it offers a competitive edge by enabling your company to anticipate potential changes that could impact your business ahead of your competitors.
Here are steps to guide you through the process: Begin by assessing your current financial situation, using analytics for competition’s results, use forecasting software to run conservative and aggressive scenarios, gather insights from customers and prospects, research external factors, and ensure you account for every detail in spreadsheets, no matter how small.
Without future forecasts, an organisation would struggle to formulate both short-term and long-term plans. Marketing, for instance, heavily relies on forecasting to generate demand and revenue projections.
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