The first step in a corporation's financial forecasting process is the determination of the firm's financing needs.

Question

Quizplus · Accepted Answer

The first step in a corporation's financial forecasting process is typically the development of a sales forecast, which provides the foundation for all subsequent financial planning. Once the sales forecast is established, the firm can then determine its financing needs based on its projected expenses and revenue. Therefore, the determination of financing needs is not the first step in the financial forecasting process.

The First Step in a Corporation's Financial Forecasting Process Is