In today’s complex environment, businesses must reassess their planning, budgeting, and forecasting processes, and better assess historical trends and current performance. Financial forecasting captures relevant operational, statistical, and financial data in one place, and allows for better decisions. In addition, forecasting allows proper planning to occur, fosters common understanding, and stimulates creative thinking. A well-done financial forecast is essential to good strategic planning, and can be the basis for more detailed and effective budgeting.
Typical Course Outline
What is Financial Forecasting?
Objectives of Financial Forecasting
Creating a framework for financial forecasting
The Role of Assumptions in Making Financial Forecasts
Identifying data patterns and applying time series modelling techniques
Modelling and forecasting your key business drivers
Simulating a complete financial forecast: Drilling down to the bottom line
Dealing with uncertainty
Interest Rate Risk Models
Communicating the Forecast to Top Management: Data Visualisation
New Directions in Financial Forecasting