1. A computer-implemented method carried out by a computer processing system for forecasting financial activity of a business entity, the method comprising: i) interacting with a user to define at least one entry and at least one impact group, wherein the entry includes at least a value pertaining to forecasted financial activity of the business entity, a date pertaining to the value of the entry, and an impact group associated with the entry, and wherein the impact group includes a time period type that specifies a time period relative to the date of an associated entry and at least one distribution factor that dictates allocation of the value of the associated entry over the time period specified by the time period type of the impact group; ii) storing data on the computer processing system, the data representing the at least one entry and the at least one impact group; iii) processing the data on the computer processing system to generate at least one analytical line corresponding to each given entry represented by the data stored in ii), the respective analytical line including a value and a date, wherein the value of the respective analytical line is based upon the value of the corresponding entry and the at least one distribution factor for the impact group that is associated with the corresponding entry, and wherein the date of the respective analytical line is based upon the date for the corresponding entry and the time period type for the least one impact group that is associated with the corresponding entry; and iv) processing the analytical lines generated in iii) on the computer processing system to simulate information that forecasts financial activity of the business entity, wherein the processing of the analytical lines involves grouping the analytical lines as dictated by the impact groups associated with the entries corresponding to the analytical lines.