Financial Forecasting Review Checklist ( FINANCE )

This checklist is designed to ensure that the financial forecasting process is thorough and accurate, allowing the organization to predict its future financial performance based on historical data and expected future conditions.

• Gather Historical Financial Data

  Collect all relevant historical financial data needed for the forecasting analysis, including revenue, expenses, and cash flow from the past 3-5 years.

• Identify Key Assumptions

  Determine the assumptions that will be used in the forecasting model, such as growth rates, market conditions, and inflation rates.

• Select Forecasting Methodology

  Choose an appropriate forecasting methodology (e.g., linear regression, time series analysis) based on the data and assumptions identified.

• Build Financial Model

  Create a comprehensive financial model incorporating the historical data, key assumptions, and selected methodology to project future revenues and expenses.

• Review and Revise Forecast

  Conduct a thorough review of the forecast with relevant stakeholders, revising any assumptions or methodologies as necessary.

• Document the Forecasting Process

  Document the entire forecasting process, including data sources, assumptions, methodologies, and any changes made during the review.

• Finalize and Present Forecast

  Finalize the forecast and prepare a presentation for stakeholders to communicate the findings and implications for future financial planning.