Corporate Finance #3 Forecasting & Budgeting

Master Financial Forecasting & Budgeting: Optimize Planning & Decision-Making with Accurate Projections & Strategies

Created by: Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI

What Will I Learn?

• Define the concept of financial forecasting and explain its importance in financial planning.
• Apply forecasting techniques to make accurate projections of future financial performance.
• Analyze past financial statements to identify relevant data for forecasting and budgeting purposes.
• Utilize Microsoft Excel to create and manipulate financial models for forecasting and budgeting.
• Construct sales projections as a foundation for other budgeting components.
• Develop a production plan based on sales projections to optimize resource allocation.
• Prepare a capital budget by evaluating investment opportunities and estimating future cash flows.
• Create a cash budget to ensure adequate cash flow management and liquidity.
• Construct a budgeted income statement to assess projected financial performance.
• Develop a projected balance sheet to evaluate the expected financial position at the end of the budgeted period.

Requirements

• Basic understanding of financial statements, including familiarity with balance sheets, income statements, and statement of cash flows.
• Access to a computer or laptop with internet connectivity to access course materials and complete practice exercises.
• Eagerness to learn and apply financial forecasting and budgeting techniques in practical scenarios.
• Openness to hands-on practice and willingness to work with Microsoft Excel or similar software to create financial models and projections.
• Curiosity and a desire to enhance financial planning skills and make informed decisions based on accurate projections.

Target audience

• Finance professionals and analysts who want to enhance their financial forecasting and budgeting skills to make more accurate projections and informed financial decisions.
• Accounting professionals seeking to expand their knowledge and capabilities in financial planning and budgeting processes.
• Business owners and entrepreneurs who want to develop the skills to create effective financial forecasts and budgets for their organizations.
• Financial managers and executives involved in financial planning and decision-making, looking to improve their proficiency in forecasting and budgeting techniques.
• Students pursuing degrees or certifications in finance, accounting, or related fields, who want to gain practical skills in financial forecasting and budgeting.
• Anyone with an interest in financial forecasting and budgeting, seeking to understand the techniques and strategies used to make informed financial decisions.