Budgeting is basically forecasting, and in most businesses it’s not much better than guesswork. There are ways that are arguably better, like bottom-up budgeti

Budgeting is basically forecasting, and in most businesses it’s not much better than guesswork. There are ways that are arguably better, like bottom-up budgeting, but they take a lot more work, and are arguably more subjective. Internal information systems can be so poor that the best prediction of next years budget is last years budget.