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Unit 3: Financial Forecasting for Business

OCR Level 2 Cambridge Technicals in Business. Introduction to. Unit 3: Financial Forecasting for Business. What’s the link?. What do the following people have in common?. The answer is :. Michael Barrymore. Abraham Lincoln. Walt Disney. Elton John. Mike Tyson. John Barnes. Joe Swash.

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Unit 3: Financial Forecasting for Business

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  1. OCR Level 2Cambridge Technicalsin Business Introduction to Unit 3: Financial Forecasting for Business

  2. What’s the link? What do the following people have in common? The answer is : Michael Barrymore Abraham Lincoln Walt Disney Elton John Mike Tyson John Barnes Joe Swash George Best Kerry Katona They have all filed for bankruptcy!

  3. Planning ahead This is particularly true in business where over 60% of all new business start ups will fail in their first year! It is always difficult to plan for the future: it is by definition unknown! Even profitable companies and organisations can face unexpected circumstances which can threaten their business stability if not managed adequately.

  4. Why is financial forecasting important? The number one cause for business failure is often stated as being poor cash flow management and financial forecasting. Good cash flow management will help a business be prepared for those unexpected hiccups by knowing in advance where the more difficult periods are.

  5. What will you learn? After completing this unit you will: Know about costs, revenue and profit in a business organisation Be able to create a cash-flow forecast Be able to prepare a break even analysis

  6. Thank you for using this OCR resource. Other OCR resources are available at www.ocr.org.uk To give us feedback on, or ideas about, the OCR resources you have used e-mail resourcesfeedback@ocr.org.uk

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