FINANCIAL FORECASTING IN N.G.O FINANCIAL MANAGEMENT. FINANCIAL FORECASTING AS A TOOL FOR PROPER FINANCIAL MANAGENMENT IN NGOs

      Аннотация: Analyzing past trends and predicting future movements is an important aspect of every organization. Knowing the future value makes an organization more efficient in planning, especially if it is related to financial factors. This can be achieved by analyzing the historical data of the organization and considering the future plans, especially as indicated in the costed work plans. Predicting or attempting to predict the future financials of an organization is achieved by means of financial forecasting. The main objective of this study was to examine the contributions of financial forecasting in the proper management of financial resources and my focus was the humanitarian or NGO industry. Both primary and secondary data were used in the analysis. Data was analyzed using SPSS. The results from the data analysis indicated that NGOs that are financially engaged forecast have a general proper grip on the management of their financial resources and hence, proper financial management, as opposed to NGOs that do not or that timidly carry out financial forecasting.

Ключевые слова: Financial Forecasting, Financial management, NGO finance