2.0 CPE Financial forecasting is an important part of any successful business. It enables businesses to plan for the future and anticipate scenarios based on strategy.
The controller helps forecast financials by calculating future revenue and income streams. In recent years, corporate finance has undergone many dramatic changes due to the growth of a number of high-tech tools. The responsibilities/competencies of the Financial Controller position (FC) has changed in recent years To maximize performance, Controllers must be aware of how the FC position is changing, and how they must adjust to these changes.
There are many types and methods of financial forecasting. This course will review the most prevalent forecasts and relative methods being used.
Learning Objectives
- Discover and define financial forecasting.
- Identify the types of financial forecasting.
- Recognize the quantitative steps to creating a pro forma statement.
- Pro forma forecasting using percent of sales.
- Forecasting using straight line and moving average.
- Recognize the qualitative steps.
- Financial forecasting using linear regression.
- Financial forecasting using the Delphi method.
Last updated/reviewed: March 18, 2024
Included In Certifications
This course is included in the following Certification Programs:
22 CoursesThe Controllership Series Certification
- The Controllership Series: The Controller Function - Elevating the Role
- The Controllership Series: The Controller Function - Strategic and Annual Planning
- The Controllership Series: The Controllers Role in Financial Forecasting
- The Controllership Series: Future Role of the Controller – Part 1
- The Controllership Series: Future Role of the Controller – Part 2
- The Controllership Series: The Controller Function - Cash and Investments
- ASC 842 Accounting for Leases - Deep Dive
- The Controllership Series: The Controller Function - Inventory Part 1
- The Controllership Series: The Controller Function - Inventory Part 2 - Inventory Valuation, Physical Inventory Methods and Inventory fraud
- The Controllership Series: Overhead, Direct and Indirect Costs and Allocation Methods
- The Controllership Series: Financial Statement Preparation and Presentation
- The Controllership Series: The Controllers Role in the Procurement Function
- The Controllership Series: The Role of The Controller in ESG
- The Controllership Series: The Controllers Role in Pro Forma Financials
- The Controllership Series: The Controllers Role in Data Analytics and Big Data
- The Controllership Series: Introduction to the Financial Close Process
- The Controllership Series: Managerial Accounting Basics and Cost Principles
- The Controllership Series: Sales, Collections and Customer Credit
- The Controllership Series: Addressing Cash Flow and Forecasting Uncertainty
- The Controllership Series: The Controller’s Skillset
- The Controllership Series: The Controllers Role in Internal Controls
- Tools for The Controllership Series Certificate
55 Reviews (298 ratings)
Reviews
michael Browne
(business consultant at DLC Group)
ghood insight to help accomplish my assignment:
Extensive experience at the corporate and divisional levels in all areas of financial planning, including preparation of annual operating plans, monthly forecasts and flash, mid- and long-range strategic plans, CAPEX planning, labor planning, operations improvement, KPI's and ad hoc analyses.
Managed Financial Planning and Analysis teams in support of manufacturing, services, and shared services business units of Fortune 50 public companies.
Performed Business Unit carve out, supporting the new CFO with cashflow forecasting, operational changes, and a new financial reporting package.
Anonymous
(VP of Accounting)
Defining financial forecasting
Types of financial forecasting
Quantitative steps to creating a pro forma
statement.
Pro forma forecasting using percent of sales
Forecasting using straight line and moving
average.
Qualitative steps
Financial forecasting using linear regression.
Financial forecasting using the Delphi method.
Anonymous
(Consultant)
The course is delivered through a combination of video lectures, reading materials, and interactive quizzes. The instructor's clear and engaging teaching style makes complex concepts accessible. The quizzes provide immediate feedback, reinforcing learning and ensuring comprehension.
BinhMinh Hill
(Corporate Controller at Nitrogen Wealth)
Good walk through course for financial forecasting. The course walked through several qualitative and quantitative methods that can be used in financial forecasting. I like to see more examples used in each of the method
Anonymous
()
This is an excellent course that gives you insights into the various forecasting methods. It enables you to think about your own organization and how you might use the various forecasting methods to provide value.
Jared Slack
(VP Finance at Fortress Solutions)
I enjoyed this course and the controllership series overall. It provides good ideas on how a controller can elevate their role and provide more value for their organization as well as upward advancement.
Anonymous
(Corporate Controller)
Lynn does a great job of missing definitions, methodologies, and her course in general with various real examples to help apply what is being taught. Her courses are really well done.
Anonymous
(Consultant)
Interesting to understand the different forecasting methods that can be used. A couple of the questions were confusing regarding the qualitative vs quantitative methods.
Anonymous
(Accountant)
It is an interesting discussion, but some of the summaries of concepts are more basic. I don't think the course discussed so much the controller's role in forecasting.
Jake Laptad
(Senior Associate at Grant Thornton)
Lynn does a great job of simplifying and defining all the different financial forecasting types used by controllers and why each is important. Very informative CPE.
Anonymous
()
Forecasting is an integral part of business at my company so this course was very helpful in understanding key concepts and learning others I was not familiar with.
Anonymous
()
This course explained various kinds of financial forecasting. There were forecasting types that I had never heard of so this course was helpful to understand.
Carol Sama
(None at None)
Good refresher on forecasting, including types as well as tips. Never actually heard of or used the Delphi method, so that was an interesting addition.
Anonymous
(Accountant)
A nice intro class into the concepts of financial forecasting. The instructor is easy to understand and adds more than simply reading off the slides.
Anonymous
()
Another great overview of the controllership position. If you have not taken this one or the others completed by Lynn - I would recommend to do so!
Anonymous
(CFO)
There is a lot of information provided in the course. It is a good starting point to determine what method you want to try to use for forecasting
Anonymous
(Controller)
This was a very interesting course. I have been tasked with forecasting the rest of year and this helped give me ways to go through the process.
Anonymous
()
I wasn't aware of the various financial forecasting methods that were discussed in this course. The information presented was very useful.
Inna Shmukler
(Controller at Fornetix LLC)
An OK course, but a bit too general. It is not focused on providing specific tips, it rather focuses on an overview of various methods.
James Starkey
(Assistant Controller at Squarespace)
A helpful course explaining the roles of controllers in forecasting. I enjoyed the points around the different methods of forecasting.
Anonymous
()
I really enjoy the instructor and the way she presents information, this was all just a little broader than what I was expecting
Anonymous
(Owner & CEO)
Interesting course, especially for someone who has historically practiced in technical and non-operational areas of accounting.
Craig Ward, CPA
(Chief Financial Officer at Geigerrig)
This is an area I have not studied. Likely something in my world that will not be used for forecasting. But interesting.
Anonymous
(CFO)
Very interesting course that broke down a very complicated process into simple to-understand explanations and examples
Anonymous
(International Finance Manager)
A very basic approach to forecasting with clear objectives of the different types of forecasting tools. Good course.
Anonymous
()
Thank you for this helpful look at controllership financial forecasting. The examples were well explained.
Anonymous
(Financial Operations Consultant)
Good overview, but did not go into specific examples. The last exhibit was just an overview and not useful.
Anonymous
()
Great course to learn the basics of forecasting and budgeting. I found this to be a great introduction.
Nicole Gordon
( at D&D Ingredients, LLC)
Enjoyed learning about the role of the controller in the financial forecasting process. Good overview.
TOMOAKI TOGO
( at Canadian Solar Japan)
this describes frameworks of financial forecasting without conducting real number crunching activities.
Anonymous
(Senior Accountant)
Excellent teaching on different methods of forecating, both qualitative and quantitative. Thank you!
Anonymous
(N/A)
This course was well-presented and easy to understand. The instructor provided good examples.
Anonymous
()
This is an excellent course that gives you insights into the various forecasting methods.
Anonymous
(SVP)
Great session. Clear and concise content and explanation of Financial Forecasting.
Anonymous
(CFO)
This was a great introduction course for controllers. I would definitely recommend.
Anonymous
(Senior Associate)
This was a great course. Clear, concise, and easy to understand. I recommend it.
Anonymous
(Accountant)
I really like how the presenter makes her courses relatable in the real world.
Douglas Aldridge
( at Morgan Properties)
Good course on some interesting subject matter. I again liked this instructor.
Kathleen Busk Varas
(Principal Financial Consultant at V Ventures Consulting)
Complete, understandable & explained well in presentation with good examples.
Anonymous
(Accountant)
Great course, clear and concise, would recommend others to take this course
Anonymous
()
Great information on a subject that many Controllers don't participate in.
Anonymous
(Corporate Controller)
Interesting course, was a good refresher to various forecasting methods.
Anonymous
()
Interesting discussion on Financial Forecasting methods and approaches.
Anonymous
(Managing Director)
This course help me understand the forecasting more for my own business.
Alice Jeanna Yu
(title at bank)
useful, helpful, good overview, practical and relevant for forecasting
Sergio Perez
(Controller at Not Applicable)
Excellent knowledge and teaching. Enjoyed the contents of this class.
Anonymous
(finance controller /Director)
Delphi method is really old but stiil alive in this area., I think.
Anonymous
(CPA)
The course was pretty basic, but a good, high-level refresher.
Anonymous
(Accounting Manager)
Good summary of forecasting in the time given. Would recommend.
Roanna Alahakkone
(accountant at ABC)
Great slides and presentation. Easy to follow and understand
Melissa Embry
( at TDI Fleet Services)
very good course, good presentation and pertinent information
Anonymous
(Accounting Manager)
Good course as I continue through the controllership series.
Anonymous
(Director)
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Anonymous
()
Great course, I recommend this everyone to take this course
Brad Sweetser
(Finance and Accounting Consultant at DLC Group)
Love this as my passion in my field is the FP&A side
Prerequisites
Knowledge Level: Basic
No advanced preparation or prerequisites are required for this course.
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Lynn FountainCPA, CGMA, CRMA, MBA, cPIA, Consultant, Author, Trainer
About Illumeo
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