|Author :||Jae K. Shim, Ph.D., CPA|
|Course Length :||Pages: 103 ||| Review Questions: 42 ||| Final Exam Questions: 40|
|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.|
|Additional Links :|
|Advance Preparation :||None.|
|Delivery Method :||QAS Self Study|
|Intended Participants :||Anyone needing Continuing Professional Education (CPE).|
|Revision Date :||25-Jan-2023|
|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, v12, 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.
3. Recognize life cycle stages for new products.
2. Understand the value of performing market surveys for forecasting.
3. Recognize methods of comparing a predicted forecast change with the observed change.
4. Identify how to measure and rank accuracy of forecasts.
2. Recognize the use of different econometric models.
3. 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.
3. Identify bankruptcy prediction models and the limitations of some methodologies.
2. Identify characteristics and accuracy of technological forecasting.
3. 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, Classical Decomposition, and Forecasting with No Data
Forecasting Using Decomposition of Time Series
Forecasting With No Data
Chapter 4 Review Questions
Chapter 5: Indirect Methods and Evaluating Forecasts
Forecasting Sales with the Markov Model
Evaluation of Forecasts
Chapter 5 Review Questions
Chapter 6: Sales and Revenue Forecasting, and Forecasting the Economy
Dependent and Independent Demand
Purposes, Concepts, and Methods of Forecasts
Basic Forecasting Methods
Sales Forecasting: A Combined Process
Forecasting the Economy
Chapter 6 Review Questions
Chapter 7: 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 7 Review Questions
Chapter 8: Cost Behavior, Cost Prediction , and Bankruptcy Prediction
A Look at Costs by Behavior
Chapter 8 Review Questions
Chapter 9: Forecasting Foreign Exchange Rates
Why Forecast Exchange Rates?
Some Basic Terms and Relationships
A Framework for Evaluating Forecasts
Chapter 9 Review Questions
Chapter 10: Interest Rate and Technological Forecasting
Interest Rate Fundamentals
Statistical Methodology and a Sample Model
Accuracy of Technological Forecasting
S-Curve as a Guide for Technology Forecasting
Methodology of Technological Forecasting
Forecasting in the 21st Century
Chapter 10 Review Questions