|Author :||Jae K. Shim, Ph.D., CPA|
|CPE Credits :||8.0|
|IRS Credits :||0|
|Passing Score :||70%|
|Course Type:||NASBA QAS - Text - Technical - NASBA Registry|
|Primary Subject-Field Of Study:||
Finance - Finance for Course Id 1756
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 course 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, foreign exchange forecasting, interest rate forecasting, and technological forecasting.
|Usage Rank :||0|
|Prerequisites :||Basic Accounting.|
|Experience Level :||Overview|
|Additional Contents :||Complete, no additional material needed.|
|Advance Preparation :||None.|
|Delivery Method :||Self-Study|
|Intended Participants :||Anyone needing Continuing Professional Education (CPE).|
|Revision Date :||05-Dec-2020|
|NASBA Course Declaration :||Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.|
|Approved Audience :||
NASBA QAS - Text - Technical - NASBA Registry - 1756
|Keywords :||Finance, Financial, Forecasting, Tools, Applications, Business, Forecasting, v10, cpe, cpa, online course|
|Learning Objectives :||
2. Recognize the value of sensitivity analysis.
3. Identify factors in the computation of business valuation.
2. Recognize smoothing techniques.
2. Recognize the steps to perform decomposition of time series.
2. Understand the value of performing market surveys for forecasting.
2. Identify how to measure and rank accuracy of forecasts.
2. Identify some sources of economic data that can be used to improve forecasts.
2. Recognize the implication of earnings forecasts and the Sarbanes-Oxley Act requirements.
3. Identify different sources provided from security analysts for earnings projections.
4. Identify benefits and methods of forecasting the cash collection pattern.
2. Recognize different methods for estimating costs.
2. Identify the trends that affect the future of forecasting.
|Course Contents :||
Chapter 1: Forecasting and Managerial Planning
Who Uses Forecasts?
Types of Forecasts
The Qualitative Approach
Common Features and Assumptions Inherent in Forecasting
Steps in the Forecasting Process
Chapter 1 Review Questions
Chapter 2: Forecasting, Budgeting, and Business Valuation
The Master Budget
Forecasting and Business Valuation
Chapter 2 Review Questions
Chapter 3: Moving Averages and Smoothing Methods
Chapter 3 Review Questions
Chapter 4: Time Series Analysis and Classical Decomposition
Forecasting Using Decomposition of Time Series
Chapter 4 Review Questions
Chapter 5: Forecasting With No Data
The A-T-A-R Model
Chapter 5 Review Questions
Chapter 6: Indirect Methods
Forecasting Sales with the Markov Model
Chapter 6 Review Questions
Chapter 7: Evaluation of Forecasts
Cost of Prediction Errors
Measuring Accuracy of Forecasts
Control of Forecasts
Chapter 7 Review Questions
Chapter 8: Sales and Revenue Forecasting
Dependent and Independent Demand
Purposes, Concepts, and Methods of Forecasts
Basic Forecasting Methods
Sales Forecasting: A Combined Process
Can You Manage Demand?
Chapter 8 Review Questions
Chapter 9: Forecasting the Economy
Economic Forecasting Services
Sources of General Economic Information:
Other Sources of Economic Data
Chapter 9 Review Questions
Chapter 10: Financial Forecasting
The Percent-of-Sales Method for Financial Forecasting
The CPA’s Responsibility for Prospective Financial Statements
Cash Flow Forecasting
Total cash receipts
Chapter 10 Review Questions
Chapter 11: Analysis of Cost Behavior and Cost Prediction
A Look at Costs by Behavior
Chapter 11 Review Questions
Chapter 12: Bankruptcy Prediction
The Need for Bankruptcy Prediction
Three Different Models
Neural Bankruptcy Prediction
Chapter 12 Review Questions
Chapter 13: Forecasting Foreign Exchange Rates
Why Forecast Exchange Rates?
Some Basic Terms and Relationships
A Framework for Evaluating Forecasts
Chapter 13 Review Questions
Chapter 14: Interest Rate Forecasting
Term Structure of Interest Rates
Interest Rate Fundamentals
Statistical Methodology and a Sample Model
Chapter 14 Review Questions
Chapter 15: Technological Forecasting
Accuracy of Technological Forecasting
S-Curve as a Guide for Technology Forecasting
Methodology of Technological Forecasting
Forecasting in the 21st Century
Chapter 15 Review Questions