Review the following resources:
Webpage: Business Forecasting: Understanding the Basics(new tab)
Article: Total Revenue Forecasting – Sunny with a Chance of Profits(new tab)
Webpage: Top Financial Forecasting Methods Explained(new tab)
Video: How to Forecast Sales | LivePlan(new tab)
Webpage: Budgeting vs. Financial Forecasting: What’s the Difference?(new tab)
Using the resources provided in this workshop along with your own independent research, develop a graph that shows profit and loss in your chosen industry over the past five years. Furthermore, develop a graph that forecasts profit for the next five years. Please note that Excel is a great tool for creating a graph for this project.
Navigate to the threaded discussion and:
Post your graph with your comments explaining the importance of the graphs and your rationale for selecting the information in your work.
Discuss the impact of not properly forecasting profit for a company in your industry.