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The need to prepare financial forecasts can arise in various situations. In the artocle we will give examples of some of the most common situations where the company's management has to undertake the preparation of forecasts.

Grant Thornton Baltic's financial advisory team helped Kilingi-Nõmme Cooperative to prepare a financial model and forecast, which was the basis for the Net Present Value (NPV) scenario analysis.

Grant Thornton Baltic OÜ experts conducted an analysis of the energy networks belonging to public undertakings at the request of the Strategy Unit of the Government Office of Estonia and it was funded from measure no. 12.2 “Development of quality of policy-making” of priority axis no. 12 “Administrative Capacity” of the Cohesion Fund’s operational programme 2014-2020. The initiator and partner of the project is the Ministry of Economic Affairs and Communications.

Grant Thornton Baltic OÜ advised Milrem Robotics in preparing a business plan and financial forecasts for the new Type X robotic fighting vehicle during autumn of 2019.

There are different reasons for drawing up a business plan and the target groups can vary as well. Detailed business plans are compiled when starting a business or expanding it, entering the market with new services or products and raising capital from investors or lenders to execute your strategies. Grant Thornton Baltic financial advisers Mikk Mägi and Raili Ilves write about the importance of business plan and what are the key points in the plan.

Although planning and goal-setting takes place both in the long term and monthly (or at least quarterly) basis, the question becomes an urgent one for management at a time when the next year’s goals and action plans have to be drawn up. Budgeting is very closely connected to strategic planning. Through this manner, accountants and financial analysts have a direct role in the organisation’s development.

Most business leaders dream of rapid growth and fast success. Often it is said there is only one limiting factor, one bottleneck, but in fact there are several. Rapid growth does not always mean rapid profits and ultimate success.