Some alternative methods to predict future income and expenses include using financial forecasting models, such as the moving average model, exponential smoothing, or autoregressive integrated moving average (ARIMA). These models use historical data to predict future trends. Another method is scenario analysis, which involves creating different scenarios based on various factors that could affect income and expenses, such as changes in the market or economy. Sensitivity analysis, which examines how changes in one variable affect the outcome, can also be used. Lastly, companies can use budgeting software or hire a financial consultant for more accurate predictions.
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