As circumstances change, a budget can quickly go stale. The original budget is static. A forecast is the revised budget, based on the nature of change in circumstances. The type of change in circumstances will drive the level and scope of the forecast process. Again, this is another tool to hold people accountable for spending that did or did not occur. Some years a forecast may not be necessary.
Other years, it might be required several times. At intheBlk, our goal is to help early-stage biotech organizations run efficient and effective LRP cycles to help achieve their financial and strategic goals.
We know that running this process in Excel is poses significant challenges to time-strapped accounting departments and biotech founders. To find out how our model can help your organization, please contact us below. The NetSuite Accountant. Paul Giese Jun 21, AM.
The business should drive the budget, not the budget driving the business. Recent Posts. Join Our Mailing List. Forgot your password? Retrieve it. Abbreviation » Term. Term » Abbreviation.
Word in Term. Term » Abbr. Filter by: Select category from list Couldn't find the full form or full meaning of LRP? Notify me of new comments via email. Dennis E Haysbert. Like Reply Report 1 year ago. Amarendra Mohanty. Like Reply Report 1 6 years ago. Cancel Report. Create a new account. Log In. Know what is LRP? Got another good explanation for LRP? Don't keep it to yourself! Add it HERE! Still can't find the acronym definition you were looking for? Use our Power Search technology to look for more unique definitions from across the web!
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