Comparing Forecasting to Budgeting

Throughout this week, you will have examined the differences between a strategic plan, a forecast, and a budget. Using the current year budget and master budgeted income statement from the Anthony’s Orchards website, you will create and submit a budgeted balance sheet using this Excel spreadsheet.

Next, using the resources for this week, along with outside sources that you may seek and your professional experience, discuss how forecasting compares to budgeting. Write a 1- to 2-page paper answering the following questions:

What are the key components of the master budgeted income statement?
Who are the key stakeholders in the budgeting process?
What are some of the key planning assumptions?
Your paper and spreadsheet should reflect the application of the resources presented this week as well as knowledge gained from previous weeks’ Required and/or Optional Resources.

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