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| Fundamentals of Financing Modeling and Forecasting (1477Q) |
Course CPE: 2 hour(s)
Field(s) of Study: Statistics–2 hrs;
Program Level: Basic
Prerequisites: Previous training or experience with the fundamentals of accounting, finance, economics, and business writing. These individuals are often at the staff or entry level in organizations, although such programs may also benefit a seasoned professional with limited exposure to the area.
Advanced Preparation: None
Delivery Method: QAS Self-Study
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Item
Number: 20FL1118FFMF
Shipping Weight: 0lbs. 0oz. |
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$147.00 |
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Recording Date: November 18, 2020
Presenter: Mark W. Shirley
Program Description:
Financial modeling is simply a mathematical model developed to solve a specific financial or accounting problem. Financial forecasting applies mathematical modeling methods to provide alternative probable quantitative outcomes for a specific proforma (historic) or prospective financial decision.
Financial modeling applied to forecasting is a sequential processing dependent on the defined objectives, development of valid assumptions, assembling sufficient data, model formulation, implementation, and testing. The three fundamental forecasting models include: times series analysis, cause-and-effect, and judgmental. Selecting the appropriate modeling method is based on the outcome objectives and assembled data. A systematic approach to assembling and evaluating the data based on the design objectives and assumptions is critical. Initial perceptions and observations may require revision during the process to achieve the design objectives.
After completing this course, attendees will be able to:
- Utilize financial modeling as an analytical tool to improve decision making
- Describe the structured process of developing a financial model
- Identify common errors occurring in financial models
- Recognize financial forecasting as a measure of the mathematical relationships intrinsic to financial accounting
- List elements of constructing a movable and scalable financial forecast which is an extension of the historic data
- Evaluate the calculation and minimization of forecasting errors
- Describe the evaluation of financial model outcomes in determining optimum and acceptable solutions to the decision problem
For more information regarding refund or concerns, please contact our offices at (800) 677-2009.
The Consultants’ Training Institute (CTI) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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