| Financial Litigation Clinic: Forecasting and Modeling (1554Q)
Course CPE: 10 hours
Field(s) of Study: Finance–5; Statistics–5
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
A Certificate of Educational Achievement (CEA) will be awarded to course attendees who successfully complete and pass the exam.
Shipping Weight: 0lbs. 0oz.
|Recording Date: July 7, 2021
Presenter: Mark Shirley
Part 1—Day 1: Introduction to Financial Forecasting
Part 2—Day 2: Understanding and Applying Benford's Law
Part 3—Day 3: Regression Analysis: Construction and Interpretation
Part 4—Day 4: Financial Analysis and Modeling: Applying Statistical Measures to Financial Data
Part 5—Day 5: Statistics and Statistical Fallacies: An Introduction to Analytics
Financial modeling applies statistical analysis to the mathematical construct of financial accounting and reporting to develop a mathematical model to solve a specific prospective financial or accounting problem. The objective may include financial forecasting for merger/acquisition, strategic growth/expansion, asset or division divestiture, business valuation, or litigation. It requires a functional understanding of the mathematical relationships intrinsic to financial accounting, financial analysis, and applied statistics.
The purpose of financial modeling is to improve decision making, and the purpose of financial forecasting is to solve a specific prospective financial/accounting problem. Applied statistics assists in “making wise decisions in the face of uncertainty.” Forecasting is 80 percent science and 20 percent judgment, therefore the science must be properly applied.
After completing this course, you will be able to:
- Identify the three fundamental forecast models
- Identify the frequency distributions of data which conform to Benford's Law
- Recognize and construct a scatterplot graph of ordered pairs of data
- Determine and evaluate the probabilities of the financial model outcomes and identify the optimum and obtainable outcomes
- Identify statistical fallacies common to legacy approaches, methods, and data analysis
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