Financial projection is an estimation of financial position and cash flows in business. Every business targeting on improving their profit, hence financial projection is the one which helps the business owner in getting more profit in their business by planning the future expenses.
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Financial projections are forecasts of future expenses and revenues for a business. It is important for a business as it helps the owner to know what he has made in terms of profits and losses. This process is also important as it helps a business to account for any money spent.