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:

20 CoursesThe Controllership Series Certification

  1. The Controllership Series: The Controller Function - Elevating the Role
  2. The Controllership Series: The Controller Function - Strategic and Annual Planning
  3. The Controllership Series: The Controllers Role in Financial Forecasting
  4. The Controllership Series: Future Role of the Controller – Part 1
  5. The Controllership Series: Future Role of the Controller – Part 2
  6. The Controllership Series: The Controller Function - Cash and Investments
  7. ASC 842 Accounting for Leases - Deep Dive
  8. The Controllership Series: The Controller Function - Inventory Part 1
  9. The Controllership Series: The Controller Function - Inventory Part 2 - Inventory Valuation, Physical Inventory Methods and Inventory fraud
  10. The Controllership Series: Overhead, Direct and Indirect Costs and Allocation Methods
  11. The Controllership Series: Financial Statement Preparation and Presentation
  12. The Controllership Series: The Controllers Role in the Procurement Function
  13. The Controllership Series: The Role of The Controller in ESG
  14. The Controllership Series: The Controllers Role in Pro Forma Financials
  15. The Controllership Series: The Controllers Role in Data Analytics and Big Data
  16. The Controllership Series: Introduction to the Financial Close Process
  17. The Controllership Series: Managerial Accounting Basics and Cost Principles
  18. The Controllership Series: Sales, Collections and Customer Credit
  19. The Controllership Series: Addressing Cash Flow and Forecasting Uncertainty
  20. Tools for The Controllership Series Certificate
24 Reviews (150 ratings)

Reviews

5
Anonymous Author
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.

5
Anonymous Author
Interesting to understand the different forecasting methods that can be used. A couple of the questions were confusing regarding the qualitative vs quantitative methods.

3
Anonymous Author
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.

5
Member's Profile
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.

5
Anonymous Author
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

3
Member's Profile
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.

5
Member's Profile
A helpful course explaining the roles of controllers in forecasting. I enjoyed the points around the different methods of forecasting.

5
Anonymous Author
Very interesting course that broke down a very complicated process into simple to-understand explanations and examples

5
Anonymous Author
Great course to learn the basics of forecasting and budgeting. I found this to be a great introduction.

4
Member's Profile
Enjoyed learning about the role of the controller in the financial forecasting process. Good overview.

4
Member's Profile
this describes frameworks of financial forecasting without conducting real number crunching activities.

5
Anonymous Author
Great session. Clear and concise content and explanation of Financial Forecasting.

5
Anonymous Author
This was a great introduction course for controllers. I would definitely recommend.

5
Anonymous Author
I really like how the presenter makes her courses relatable in the real world.

5
Member's Profile
Complete, understandable & explained well in presentation with good examples.

5
Anonymous Author
This course help me understand the forecasting more for my own business.

5
Member's Profile
useful, helpful, good overview, practical and relevant for forecasting

4
Member's Profile
Excellent knowledge and teaching. Enjoyed the contents of this class.

5
Anonymous Author
Delphi method is really old but stiil alive in this area., I think.

5
Anonymous Author
The course was pretty basic, but a good, high-level refresher.

5
Member's Profile
Great slides and presentation. Easy to follow and understand

4
Member's Profile
very good course, good presentation and pertinent information

5
Anonymous Author
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5
Member's Profile
Love this as my passion in my field is the FP&A side

Prerequisites
Course Complexity: Foundational
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 .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to The Controllers Role in Financial Forecasting4:26
  Defining Financial Forecasting8:00
  Types of Financial Forecasting9:36
  Quantitative Method for Financial Forecasting6:06
  Quantitative Method for Pro Forma Using Percent Of Sales13:35
  Pro Forma using Straight Line and Moving Average9:05
  Qualitative Methods Financial Forecasts13:52
  Delphi Method10:22
  Summary1:30
CONTINUOUS PLAY
  The Controllership Series: The Controllers Role in Financial Forecasting1:16:32
SUPPORTING MATERIAL
  Slides: The Controllership Series: The Controllers Role in Financial ForecastingPDF
  The Controllership Series: The Controllers Role in Financial Forecasting Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam