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FP&A Interview Questions: Difference between Budget and Forecast?

In this video, I will be answering a typical FP&A Interview Question and provide some tips on how to answer the question : What is the difference between Budget and Forecast?

This is a common question asked in FP&A interviews. This video will show you the difference between budget and forecast, their main differences, and how they are used to making strategic decisions.

I'll show you how to confidently answer the question, provide some tips on how to answer the question and provide an example of what's the difference between forecasts and budgets.

We will cover the following points:
What is a Budget?
What is a Forecast?
What are the differences between a Budget and a Forecast?
Why both Budgeting and Forecasting are important Management tools?
and How are both connected?

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#Difference between Budget and Forecast