Journals Proceedings

Abstract

Ever changing economic conditions are driving companies and businesses to become increasingly cautious about the future, creating the need to focus on improving flexibility to dynamically account for the change. This is in turn shifting focus away from budget accuracy, putting companies at risk of falling short of shareholder expectations. Hence giving rise to a need for efficient planning, budgeting, and forecasting for improved agility, accuracy, and corporate performance. This project seeks to comprehend the concepts of financial planning, budgeting and financial forecasting. Furthermore, his project seeks to present a simple web-based model to get rid of the errors and tedium of manual planning and forecasting.Through this model it would be viable for anyone to begin a business or make necessary changes to an already existing business with the least amount of effort.