A financial forecast is an estimate of future financial outcomes for a company or project, usually applied in budgeting, capital budgeting and / or valuation; see Financial modeling § Accounting. Depending on context the term may also refer to listed company earnings guidance.
A financial projection shows the expected revenues, expenses, and cash flows of a business over a forecast period. This forecast may be used internally as the basis for a more detailed budget, or it may be presented to outsiders.
