Budgeting and forecasting are accounting and finance processes helpful for setting goals and measuring a company’s growth. Although the terms are often used interchangeably, they have some differences to be aware of.

Business is great: you’re growing, generating profits, and hiring more employees. You’re establishing a finance and accounting department to manage your forecasting, budgeting, and month-end close. But you still have a critical decision to make — which accounting method to use?

You have a solid product or service and a great business model. Securing investment capital can be a huge help in expanding operations and putting your product or service into the hands of more customers.

To acquire that investment, you’ll need to persuade investors with your pitch.