The Difference Between a Financial Forecast and a Financial Projection

question 18

True/False

The difference between a financial forecast and a financial projection is that a forecast provides information on what is expected to happen, while a projection provides information on what might take place.

---

Definitions:

Human Resources Information System (HRIS)

A digital solution for managing and automating an organization's HR processes, from recruitment to retirement.

Enterprise Resource Planning (ERP)

A software system used by organizations to manage day-to-day business activities, such as accounting, procurement, project management, and supply chain operations.

HR Metrics

Quantitative measures used to assess and track the performance and efficiency of HR policies, procedures, and initiatives.

Workforce Analytics Applications

Tools and systems used to analyze employee data to improve HR decision-making, optimize workforce management, and enhance performance.