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This course prepares participants to make more accurate financial forecasts with standard format generally accepted accounting principles (GAAP) financial statements by using business intelligence (BI). Particular focus is on the difference between conventional financial forecasts based on simple growth assumptions and financial forecasts using growth rates derived from data. The course is intended as an applied primer in forecasting using new techniques resulting from the growth in Big Data and BI techniques.

***Please download and open all supporting materials before starting the course videos.***

Learning Objectives

  • Discover how to create a basic set of income statement, cash flow, and balance sheet forecasts
  • Recognize the linkages between different items across the financial statements
  • Identify how changes in growth assumptions impact financial forecasts
  • Explore the use of regression analysis to determine forecast growth rates using outside variables (e.g., GDP and inflation) 
Last updated/reviewed: October 17, 2018

Included In Certifications

This course is included in the following Certification Programs:

15 CoursesCDAP (Certified Data Analyst Professional)

  1. The Fundamentals of Business Intelligence (BI): What it Does and Why it's so Essential
  2. How is Industry Using Big Data? – A Case Study Reading
  3. Business Intelligence - Data Collection and Cleaning
  4. Business Intelligence - Structuring Data for Analysis
  5. Business Intelligence - Fundamentals of Data Analysis
  6. Business Intelligence - Using Big Data Analytics
  7. Doing Data Analytics In Excel (Hands-on module)
  8. Regressions in Excel (Hands-on module)
  9. Financial Forecasting
  10. Advanced Analytics – Omitted Variables
  11. Advanced Analytics – Fixed Effects
  12. Case Study in Data Analytics
  13. Using Regressions for Forecasting
  14. Financial Forecasting in Excel (Hands-on module)
  15. Blockchain for Business

36 Reviews (273 ratings)Reviews

5
Anonymous Author
This was one of my favorite CPE study cases to date. I trade stocks so I think financial forecasting is very important!
4
Anonymous Author
I thought the course was informative and think it would be helpful for someone who plans to be in a role where they will have to consistently look at data and forecast what the potential outcome will be for a company on sales, etc.
3
Anonymous Author
While the course made an effort to do examples of financial forecasting, it would have been helpful for the presenter to actually walk through a problem step by step, and to have a slide of what each variable in formulas mean.
5
Anonymous Author
I liked the use of examples with the regression models and time series forecasts. I think it could be useful to also talk more about the benefits of companies using financial forecasting.
4
Anonymous Author
Course was interesting, and I could have used some more in depth analysis on the math behind the concepts. I am guessing these are covered in another course. Covered the basics well.
Member's Profile
This course has a lot of complex data and calculations for preparing and measuring a forecast. This is a textbook lesson but not real helpful in developing a forecast.
4
Anonymous Author
Was not familiar with the topic and found it helpful. I believe one of the data points (Linear Regression Problem, x2 value for period 1) has an incorrect figure, 1024?
4
Anonymous Author
Good overview for theoretical forecasting principles --not sure that the statistical materials presented are practical for a typical finance manager creating a forecast
3
Anonymous Author
I liked that there was an opportunity to practice some of the mathematical formulas presented in the course but would have preferred some additional practice problems.
5
Anonymous Author
This course provided a good overview of different ways organizations can use financial forecasting. I thought it was interesting and helpful.
2
Anonymous Author
I found this module somewhat confusing and abstract compared to previous modules. Hands-on examples would've helped distill your points.
3
Member's Profile
Good overview of models and high level theories, but would have liked to see some of the examples actually done in Excel or another tool.
4
Anonymous Author
This is a great introduction class to financial analysis. It shows the most commonly used methods with great examples.
4
Anonymous Author
This course helped in understanding the principles of forecasting and explained the steps in the forecasting process.
5
Anonymous Author
great class Michael, very easy to navigate and get through. Test questions could be a little bit more difficult.
5
Anonymous Author
This course had good, relevant, and useful information which was provided in a concise and understandable way.
3
Member's Profile
Solution for problems - if you can show via formulas with data input or in excel that would be very helpful
3
Anonymous Author
This course covered interesting concepts, but requires sufficient resources to be able to put into practice
4
Member's Profile
A good introduction to forecasting methods. It was mostly basic information, but a good review overall.
5
Anonymous Author
Michael was clear and concise in his thorough descriptions on the importance on financial forecasting.
4
Anonymous Author
I appreciated his clarity. If he stumbled on words, he would pause and start over.
4
Member's Profile
Very good video, one of the better topics for discussion that's more interesting
4
Anonymous Author
Good overview of financial forecasting methods. Would recommend for beginners.
5
Anonymous Author
Course was informative and easy to navigate. I would recommend to a colleague.
5
Anonymous Author
Great stuff as always, Michael. This is a valuable program in data analytics
4
Member's Profile
revisit of regression analysis helpful and correlation aspects of analysis
5
Anonymous Author
Great course, easy to follow, and full of examples that are helpful.
5
Anonymous Author
this was a useful introduction to tools that I use on a daily basis
4
Member's Profile
Technical but presented well. Included much detailed information.
5
Anonymous Author
Good course. Would recommend to all interested in the topic.
5
Member's Profile
Good course.... does a good job of introducing basic concepts.
4
Anonymous Author
I thought it gave a good overview of the different models.
5
Anonymous Author
The modules were very helpful to understand the material.
3
Anonymous Author
The course helped to understand financial forecasting.
5
Member's Profile
Everything about this course was absolutely fantastic.
5
Anonymous Author
Very informative

Prerequisites

Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.

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 .
Course Syllabus
INTRODUCTION AND OVERVIEW
  2:49Introduction to Financial Forecasting
  11:48Module 1: Overview of Forecasting
  12:13Module 2: Quantitative Forecasting
  7:40Module 3: Dealing with Trends in Demand
  9:41Module 4: Evaluating Forecasts
CONTINUOUS PLAY
  44:11Financial Forecasting
SUPPORTING MATERIALS
  PDFSlides: Financial Statement Forecasting Using Business Intelligence
  PDFFinancial Statement Forecasting Using Business Intelligence Glossary/Index
REVIEW AND TEST
  quizReview Questions
 examFinal Exam