Financial Forecasting Checklist ( FINANCE )

This checklist is designed to ensure that all necessary steps are taken to prepare accurate financial forecasts, which are essential for strategic planning and decision-making.

• Gather Historical Data

  Collect data from previous financial statements and operational performance metrics to provide a basis for the forecast.

• Identify Key Assumptions

  List the assumptions that will influence the forecast, including market trends, economic conditions, and operational changes.

• Develop Forecast Models

  Create different forecasting models (e.g., top-down, bottom-up) based on the gathered data and identified assumptions.

• Conduct Sensitivity Analysis

  Analyze how different assumptions affect financial outcomes to identify potential risks and opportunities.

• Review with Stakeholders

  Present the forecasts to key stakeholders for feedback and adjustments before finalizing.

• Finalize Forecast

  Incorporate feedback and finalize the financial forecast for approval and distribution.

• Monitor and Update Regularly

  Regularly review the forecasts against actual performance and update them as necessary to reflect changes in assumptions or market conditions.