Forecasting and Budgeting

Financial Forecasting: Tools And Applications - Part 2

Business and financial forecasting is of extreme importance to managers at practically all levels. It is required for top managers to make long-term strategic decisions. Middle management uses sales forecasts to develop their departmental budgets. Every other plan such as a production plan, purchasing plan, manpower plan, and financial plan follows from demand forecasting. The critical element in any supply chain plan is the demand forecast.

The goal of this series of forecasting courses (Parts 1, 2, and 3) is to provide a working knowledge of the fundamentals of business forecasting that can be applied in the real world regardless of firm size. We walk you through basic forecasting methodology, and then practical applications. It encompasses a wide range of topics of major importance to practical managers in all functional areas, including cash flow forecasting, cost prediction, earnings forecasts, bankruptcy prediction, interest rate forecasting, and technological forecasting. Emphasis is placed on the use of computer technology such as spreadsheets and stand-alone forecasting software.

Learning Objectives:

  • Recognize life cycle stages for new products.
  • Identify assumptions use to forecast sales with the Markov model.
  • Understand the value of performing market surveys for forecasting.
  • Recognize methods of comparing a predicted forecast change with the observed change.
  • Identify how to measure and rank accuracy of forecasts.
  • Recognize different methods of performing economic forecasts.
  • Identify the value of a combination method of sale forecasting.
  • Recognize the use of different econometric models.
  • Identify some sources of economic data that can be used to improve forecasts.


Prerequisites/Advanced Preparation:

Basic Accounting


Speaker / Author:

Steve Spafford, MBA, CPA, has over 20 years’ experience as a CPA working with large public accounting firms, and in numerous executive roles at multinational public corporations. He is a member of DeltaCPE LLC, a leading publisher of continuing professional education courses for CPAs, and has edited CPA ethics courses provided to over 35 states.

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Price (USD)

Standard: $49.90

Details

Course Code : 99DEL59

Release Date : 12/16/2020
Expire Date : 12/31/2022
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Overview
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Finance

Theme : Forecasting and Budgeting

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