Many of us working in for-profit sector know that forecasting is an essential component of the management control cycle. A forecast can be a warning system to detect a future gap between revenues and expenditures. For-profit businesses implemented so called "rolling forecasts" done monthly, quarterly or on "as needed" basis to absorb negative or unexpected market changes.
Class,
What can government (if anything) do to adapt to the changes before the end of fiscal year if their forecast goals are not met?

Answer rating: 100% (QA)

The government prepares forecasts of its expected revenues and expenses just like any other bu... View the full answer