What is the difference between budgeting and forecasting? Actually, I need some good references for a paper that I've been preparing.

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Both are similar and mean estimates or plans for future. While forecasting is more general, budgeting is more particular to financial terms. While budgets are prepared for a specific tenure, forecasts are more flexible and often change.
 

Sources: http://en.wikipedia.org/wiki/Forecasting

http://en.wikipedia.org/wiki/Budgeting
 


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