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Hi Lisa. You did a great job on your response! I’m glad that youfocused...

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Accounting

Hi Lisa. You did a great job on your response! I’m glad that youfocused on the use of forecasting for both an internal and externalperspective. In the 10K annual report filings, management willtypically include a very high-level “forward looking information”section that forecasts key figures. Meanwhile, the company wouldhave a full forecast in their internal systems which would not bemade public. Class, how detailed should an internal forecast be?Why would management need more detail compared with outsideinvestors?

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The modern business world is dynamic and the internal and external factors affecting the business are ever changing Hence it has become of utmost importance for the management to keep informed of all the changes happening in the business so that they can be proactive in responding to situations Forecasting is one such tool    See Answer
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In: AccountingHi Lisa. You did a great job on your response! I’m glad that youfocused on...Hi Lisa. You did a great job on your response! I’m glad that youfocused on the use of forecasting for both an internal and externalperspective. In the 10K annual report filings, management willtypically include a very high-level “forward looking information”section that forecasts key figures. Meanwhile, the company wouldhave a full forecast in their internal systems which would not bemade public. Class, how detailed should an internal forecast be?Why would management need more detail compared with outsideinvestors?

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