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: May 15, 2023

Included In Certifications

This course is included in the following Certification Programs:

19 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 Treasury Function Part 1: Cash, Liquidity and Investments
  5. The Controllership Series: The Controller Function - Cash and Investments
  6. ASC 842 Accounting for Leases - Deep Dive
  7. Revenue Recognition (ASC Topic 606) Standard Overview
  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: The Financial Close Process
  17. The Controllership Series: Managerial Accounting Basics and Cost Principles
  18. The Controllership Series: Sales, Collections and Customer Credit
  19. Tools for The Controllership Series Certificate
1 Review (7 ratings)

Reviews

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