What is the difference between a forecast and a budget?

Answer 1

A budget is backwards looking and a forecast is forwards looking.

Answer 2

The budget is a plan and the forecast is reality.

Answer 3

A budget is a forecast made at the beginning of a year or the beginning of a project.

Answer 4

Don’t know

Answer 5

The straight-line method is appropriate for project activities when a project is ahead or behind schedule.

Answer 6

The straight-line method is appropriate for functions or departments where the spending is level-loaded.

Answer 7

The straight-line method is appropriate for functional department activities of a limited scope or duration.

Answer 8

Don’t know

Answer 9

Straight-line.

Answer 10

Bottom-up.

Answer 11

Trend analysis.

Answer 12

Don’t know

When is it appropriate to use the straight-line method for expense forecasting?