Correct.Forecasting?
Well 2 fold
I forecast revenue and cost monthly/quarterly.
budget is just once a year so the business can make hiring decisions, supply chain decisions, etc.
Correct.Forecasting?
Morning SirMorning KK
That doesn't sound too horrible.Correct.
Well 2 fold
I forecast revenue and cost monthly/quarterly.
budget is just once a year so the business can make hiring decisions, supply chain decisions, etc.
sounds pretty easy really , couple hours workThat doesn't sound too horrible.
Always shoot low on Revenues .That would work but unfortunately I’m doing the revenue budget which means I’m just making stuff up. My buddy is doing that portion
It’s really not too bad, lots of minutia in there though. I’ve got 7 different “product lines” that each are treated differently and lots of small stuff that plays a role like headcount, rate, bookings.That doesn't sound too horrible.
we are ignoring covid for revenue budget, the cost team will factor it in but for revenue we are shooting for pre covid numbers so we are taking it out of the equation. That decision is a few levels over my head lol.Always shoot low on Revenues .
Average out the last 3 years, gives you the best possible pessimistic number. Figure out the % drop for Covid impact from 20 to 21.
%drop x 3 YA gives you decrease in 22 revenues over 21. Substract that from the 3YA.
You number will be probably 5 to 10% too low (do not know your industry), but will keep units from overspending, and will give you a breathing room
Adjust Rev projections quarterly (hard adj). Separate worksheet for you only with monthly adjustments. Last 3 months of the year, adjust it biweekly.
Interesting. We are seeing impact both in Revenue and Expenses from Covid. I am adjusting Rev down, Exp up, a double whammy.we are ignoring covid for revenue budget, the cost team will factor it in but for revenue we are shooting for pre covid numbers so we are taking it out of the equation. That decision is a few levels over my head lol.
the forecast I build will have covid factored in. Forecast gets adjusted monthly. Budget is really just a benchmark that we can use to push sales/operations to keep working
But is transitory!!!. Yea right.Hay-hay to the KK.
Don't forget to factor inflation in your numbers. "Inflation".
Donde esta el Stegamundo?
Yeah that’s definitely what’s happening for actuals and in my forecast.Interesting. We are seeing impact both in Revenue and Expenses from Covid. I am adjusting Rev down, Exp up, a double whammy.
Time for more stimulants....another ripit and a cigar.Based
Nicotine and caffeine are the only thing keeping this country runningTime for more stimulants....another ripit and a cigar.
Oh, and I’m wearing some dope ass Sketchers.... Comfy as hell.Well I’m letting Metallica Ride The Lightning play with a G26 on my desk while I try to figure out a job estimate for an HVAC Control job at a certain main transportation hub both locally and internationally.
Oh, and I sharpened my knife. View attachment 139775
Sketchers stepped up their game the last few years for sureOh, and I’m wearing some dope ass Sketchers.... Comfy as hell. View attachment 139776
What pukko is that? Looks goodWell I’m letting Metallica Ride The Lightning play with a G26 on my desk while I try to figure out a job estimate for an HVAC Control job at a certain main transportation hub both locally and internationally.
Oh, and I sharpened my knife. View attachment 139775
Bro...... I love them. I swap between 3 pair and my boots.Sketchers stepped up their game the last few years for sure